Recent development The Turkish Public Procurement Authority recently amended the standard contracts annexed to the Regulations on the Implementation of Public Procurements effective as of 19 January 2018. What do the amendments say? Instead of referring to Turkish courts, public administrations may choose arbitration for disputes arising out of the execution of a procurement agreement. […]
Recent Development The Regulation on Data Controllers Registry (the “Regulation”), prepared by the Data Protection Authority (the “Authority”), was published on December 30, 2017. The Regulation entered into force on January 1, 2018. Background The Regulation establishes the obligation to register with the Data Controllers Registry (the “Registry”) provided in Article 16 of the Law […]
Recent Development Based on the new Industrial Property Law No. 6769 (the “IP Law”), the new Regulation on Employee Inventions, University Inventions and Inventions Created in State Funded Projects (the “Employee Inventions Regulation”) entered into force on September 29, 2017. With the provisions clarifying employee remuneration amounts and the calculation of such remuneration, as well […]
Recent Development In our recent alert dated October 10, 2017, we mentioned that the Capital Markets Board (the “CMB”) will regulate crowd funding. A draft bill submitted to the Parliament sheds light on the details. What’s new? The Capital Markets Law No. 6362 (the “Law”) will define crowdfunding, thereby introducing a new type of funding […]
Recent Development The Ministry of Health (“MoH“) Communiqué on the Pricing of Medicines for Human Use (the “Pricing Communiqué“) entered into force on September 15, 2017, repealing the previous communiqué of June 15, 2015. The new Pricing Communiqué sets out the implementation principles of the Council of Ministers ‘ Decision No. 2017/9901 on the Pricing […]
Recent Development The Labor Courts Code (the “Code“) was published in the Official Gazette on October 25, 2017 and entered into force. The Law abolished the Law No. 5521 on Labor Courts (“Abolished Law“) and brought numerous amendments. What Changes Does the Code Bring? 1. Mediation as a Pre-Condition to a Lawsuit Starting from January 1, […]
Recent Development The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently published on its website various new or updated guidelines (collectively the “Guidelines“) regarding the cosmetics sector based on the Cosmetics Law and the Cosmetics Regulation. What’s new? The TİTCK recently published the following Guidelines: the Guidelines on Cosmetotextile Products Version 3.0 (available here […]
Recent Development The Capital Markets Board (“CMB”) published the Communiqué Amending the Communiqué on the Principles of Investment Services, Activities and Ancillary Services No. III-37.1 in the Official Gazette dated October 20, 2017 and No. 30216. The changes will be effective as of December 25, 2017. What’s new? The communiqué defines “Gross Asset” as a […]
Recent Development In our recent alerts dated August 8 and 18, 2017, we explained the implications of the recent changes to the listing requirements of Borsa İstanbul A.Ş. (“Borsa Istanbul”) and its product range. On October 13, 2017, a new amendment to the Borsa Istanbul Listing Directive (the “Directive”) entered into force further relaxing the […]
Recent Development The Turkish Medicines and Medical Devices Agency (the “TİTCK”) recently announced updates to the Guidelines on the Regulation on Package Information, Manuals and Tracking of Medicinal Products for Human Use (the “Guidelines”). The updates concern the requirement to include animal sources in product manuals. Background In April of 2017, the TİTCK published the […]
