On November 16, 2019, the Ministry of Trade (“Ministry“) announced the launch of the Customs Guidelines (“Guidelines“). The Guidelines aim to provide guidance and inform individuals and companies of customs procedures. What’s New? The Guidelines are for individuals wishing to carry out customs procedures for their personal belongings and for companies involved in international trade. […]
Did you know that within the last quarter century, intellectual property (IP) and intellectual capital have emerged as leading assets? In fact, the majority of technology companies’ assets are intangible ones, such as IP and intellectual capital. Given the profitability and prominence of IP and intellectual capital, undesirable IP due diligence findings can make investors […]
Recent Developments The Regulation Regarding the Intellectual Property Academy (“Regulation“) was published and entered into force on November 14, 2019. Drafted by the Turkish Patent and Trademark Office and the Ministry of Tourism and Culture, the Regulation determines the working procedures and principles of the Intellectual Property Academy. What’s New? The Intellectual Property Academy is […]
Recent Development On November 8, 2019, the Turkish Data Protection Authority (“DPA“) published a public announcement on its website providing further guidance on data controllers’ obligation to inform data subjects about data collection provided under Article 10 of Law No. 6698 on the Protection of Personal Data (“Data Protection Law“). What Does the Decision Say? […]
Recent Development The Turkish Data Protection Board (“Board“) published four decisions regarding data subjects’ applications to data controllers, the conditions for processing personal data, and the data security obligations of data controllers on its website on November 6, 2019. What Are the Decisions? The Board’s first decision concerns a data subject’s complaint regarding the use […]
Recent Development The Central Bank of Turkey amended the Capital Movements Circular (“Amendment“). The Amendment entered into force on 4 November 2019. What’s new? The Amendment foresees that any proceeds a foreign shareholder provides to a Turkish company for a future capital increase must be converted into capital within three months. According to Articles 345 […]
Recent Development The Law on Amending the Code of Criminal Procedure and Certain Laws (the “Law“) was published in the Official Gazette No. 30928 on October 24, 2019. The Law introduces significant amendments to the information technologies and communication laws. What’s New? Publications on the Internet With the new Law, Article 8 the Law No. […]
Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced the results of its cosmetics sector market surveillance and inspection conducted between July and September 2019. Of the 295 cosmetic products inspected by the TİTCK’s Cosmetics Supervision Department, 134 were non-compliant and 12 were unsafe. A total fine of TRY 398,654 (approximately USD […]
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 […]
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 […]
