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News & Insights

October 23, 2018

Comprehensive Amendments to Payment Services and Electronic Money Issuance Legislation

Legal Alerts
Banking & Finance

Recent Developments The Banking Regulatory and Supervisory Authority (“BRSA“) amended the Regulation on Payment Services, Electronic Money Issuance, Payment Institutions and Electronic Money Institutions (the “Regulation”). The amendments were published and entered into force on October 12, 2018. What’s New? In accordance with the previous amendments to the Law No. 6493 on Payment and Securities […]

October 23, 2018

Ministry of Environment and Urban Planning Publishes Regulation on Ecolabels

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Environment and Urban Planning (“Ministry”) introduced the Regulation on Ecolabels (“Regulation”), which entered into force by publication in the Official Gazette on October 19, 2018. The Regulation sets out the principles and procedures regarding the use of ecolabels to promote products or services with reduced environmental impact. What’s New? The […]

October 19, 2018

FX Payment Ban on License and Service Agreements for Software and Hardware Developed in Turkey Clarified

Legal Alerts
IT & Communications

Recent Development The Ministry of Treasury and Finance (“Ministry“) published a press release regarding agreements denominated in foreign currencies or indexed to foreign currencies, which included answers to frequently asked questions (“FAQs“). The press release clarified the details of the FX payment ban on license and service agreements regarding software and hardware developed in Turkey. […]

October 18, 2018

Turkey Publishes Draft Regulation on Medical Devices

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK“) recently published on its website the draft Regulation on Medical Devices (“Regulation“). Within the scope of harmonization with EU legislation, the Regulation is based on the EU Directive No. 2017/745 (“Directive“). The TİTCK will collect public opinion for the Draft Regulation until December 16, 2018. […]

October 17, 2018

Details of Conversion into Turkish Lira in Employment Agreements Clarified

Legal Alerts
Employment

Recent Development The Ministry of Treasury and Finance (“Ministry”) published a press release regarding agreements denominated in foreign currencies or indexed to foreign currencies. The press release includes answers to frequently asked questions (“FAQs”). The press release clarified the currency conversion process for employment agreements. The FAQs provide a sample calculation for the conversion of […]

October 17, 2018

Data Controllers’ Registry Open for Registrations

Legal Alerts
IT & Communications

Recent Developments The Data Protection Authority launched the Data Controllers’ Registry (“VERBİS“) on October 1, 2018, enabling data controllers subject to the registration requirements under the Regulation on the Data Controllers’ Registry to fulfill their obligations through the online system. What’s New? Pursuant to Article 16 of Law No. 6698 on the Protection of Personal […]

October 16, 2018

Ministry of Trade Publishes Communiqué on the Use of Domestic Production Logos on Product Price Tags

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Trade (“Ministry“) published the Communiqué on the Use of Domestic Production Logos on Product Price Tags (“Communiqué“) in the Official Gazette on October 5, 2018. The Communiqué requires the use of domestic production logos on the labels and price lists of the goods that are produced in Turkey and offered […]

October 15, 2018

Changes to the Administrative Sanctions Regulation of the Information Technologies and Communication Authority

Legal Alerts
IT & Communications

Recent Development The Information and Communication Technologies Authority (“BTK“) made several amendments to the Regulation on Administrative Sanctions (“Regulation“). The amendments were entered into force and published in the Official Gazette No. 30550 on 29 September 2018. What’s New? Before the amendment, administrative fines for Calling Line Identification (CLI) violations were limited to a maximum […]

October 15, 2018

Ministry of Treasury and Finance Publishes Turkish Lira Conversion Calculation for Agreements Denominated in Foreign Currency

Legal Alerts
Real Estate

Recent Development The Ministry of Treasury and Finance (“Ministry”) published a press release regarding agreements denominated in foreign currencies or indexed to foreign currencies. The press release includes answers to frequently asked questions (“FAQs”). The FAQs provide a sample calculation for the conversion of foreign currency payments into Turkish lira including the calculation of the […]

October 15, 2018

FX Payment Ban in Employment Agreements

Legal Alerts
Employment

Recent Development The amendments to the Decree No. 32 Regarding the Protection of the Value of the Turkish Currency (“Decree No. 32“) published in the Official Gazette on September 13, 2018 introduced a ban on FX and FX-indexed payments for employment agreements executed between Turkish residents. Following the entry into force of these restrictions, the […]

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