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News & Insights

November 4, 2019

New Market Structure of Borsa Istanbul

Legal Alerts
Capital Markets

Recent Developments Borsa Istanbul A.Ş. (“BIST“) Board of Directors’ Decision No. 2019/182 dated September 27, 2019 and the Capital Markets Board’s (the “CMB“) Decision No. 52 dated September 19, 2019 amended the Equity Market Directive and Listing Directive (the “Amendment“). The Amendment entered into force on November 4, 2019. What’s New? The new market structure […]

November 1, 2019

Artificial Intelligence Used in Customs Controls

Legal Alerts
International Commercial and Trade

Recent Development On October 22, 2019, the Ministry of Trade (“Ministry“) announced the launch of the Surveillance Network Project (tr. Tarama Ağı Projesi). The Ministry will set up a technical substructure that will identify crime and threat risks relating to vehicles and goods passing through customs through artificial intelligence systems. What’s New? All vehicles and […]

November 1, 2019

Data Protection Board Publishes Decision on Notification of Data Subjects After Data Breaches

Legal Alerts
IT & Communications

Recent Development The Personal Data Protection Board (“Board“) published its decision (“Decision”) dated September 18, 2019 and No. 2019/271 on its website. The Board ruled that data breach notifications made to data subjects must include certain information such as the time the data breach occurred, the likely consequences of the data breach and the measures […]

November 1, 2019

Update: Financial Restructuring vs. Konkordato/Composition (Turkish Scheme of Arrangement)

Publications

Our report “Financial Restructuring vs. Konkordato/Composition (Turkish Scheme of Arrangement)” dated March 2019 is updated! The report is presented as a reference source to give all market participants a schematic comparison of these two financial restructuring techniques available to Turkish debtors in light of the fast moving legal and market developments in Turkey. We hope that you […]

October 31, 2019

Employers Cannot Terminate Employment Agreements Due To Whatsapp Messages Between Employees

Legal Alerts
Employment
IT & Communications

Recent Development The 9th Civil Chamber of the Supreme Court issued a decision on January 10, 2019 and with No. 2018/10718 E. – 2019/559 K. stating that employees are allowed to create message groups and communicate with other employees through these groups, provided that these communications do not disrupt their work flow or affect their […]

October 31, 2019

Turkey’s Stance – Blockchain Technology and Cryptocurrencies

Publications
Banking & Finance
IT & Communications
Tax

While blockchain technology touches upon number of fields and this number continues to grow, our article aims to discover the effects of the technology in monetary transactions. Therefore we aim to shed light to the legal spectrum around the cryptocurrencies under Turkish Law. Please click below to read the full article.

October 30, 2019

Turkish Payment Services, E-Money and Open Banking Reform

Legal Alerts
Banking & Finance
IT & Communications

Recent Developments The Draft Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions (the “Payment Services and Electronic Money Law“) and Amendments to Certain Laws (the “Draft Law“) was submitted to the Presidency of the Grand National Assembly of Turkey on October 17, 2019 and proposes to reform payment services and […]

October 30, 2019

Significant Amendments To The Code Of Criminal Procedure Under The First Package Of The Judicial Reform

Legal Alerts
Dispute Resolution

Recent Development The first package of the Judicial Reform Strategy Document, The Amendment to the Code of Criminal Procedure and Certain Laws (the “Law“), was  published in the Official Gazette on October 24, 2019. The Law amends the Code of Criminal Procedure (the “CCP“) in line with the purposes and aims determined within the scope […]

October 30, 2019

Changes to Verification of FX Transfers

Legal Alerts
Banking & Finance

Recent Development The Central Bank of Turkey amended the Capital Movements Circular (the “Amendment“). What’s New? As explained in our Client Alert dated July 12, 2019, in case of an unidentified FX transfer from abroad worth USD 50,000 or more, Turkish account bank is required to obtain the account holder’s written declaration, in addition to […]

October 25, 2019

New Amendments to the Private Hospitals Regulation

Legal Alerts
Healthcare

Recent Developments The Ministry of Health (“Ministry“) amended (“Amendment“) the Private Hospitals Regulation (“Regulation“). The Amendment entered into force with its publication in the Official Gazette No. 30902 dated September 28, 2019. What’s New? Provided that the requirements of the Regulation are met, licensed and operating private hospitals that have less than 100 beds will be […]