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 […]
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 […]
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. […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
