Recent development On January 12, 2016, the Capital Markets Board (the “CMB”) introduced new disclosure requirements to its equity offering prospectus format and specified disclosure requirements regarding taxation and material agreements to obtain equivalency from the European Securities and Markets Authority: • Institutions preparing expert reports (e.g., audit reports, valuation reports and rating reports) must […]
Recent development On December 26, 2015, the Banking Regulation and Supervision Agency (the “BRSA”) amended the Regulation on Payment Services, Electronic Money Issuance, Payment Institutions and Electronic Money Institutions, relaxing certain requirements foreseen for companies providing payment services and e-money issuance (“Institutions”). What the BRSA did • Institutions are no longer obligated to appoint a […]
Recent development Effective January 15, the use of animals to test cosmetic products in Turkey will be restricted. Background Globally, there is a continuing trend of introducing policies to limit animal testing of cosmetics by prohibiting the sale of products tested on animals. The European Union has prohibited the sale of any cosmetic or personal […]
Recent development In our client alert of October 2015, we announced upcoming reforms that would have, for the first time in Turkey, allowed advertisers to suggest the superiority of their products and services using direct references to a competitor’s trademark or name beginning from January 10, 2016. However, in the Regulation on the Amendment of […]
