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October 11, 2018

Turkey Publishes Draft Regulation Regarding RTÜK Supervision of Internet Content

Legal Alerts
Intellectual Property
IT & Communications
Tax

Recent Development Subsequent to the recent amendments to the Law No. 6112 on the Establishment of Radio and Television Enterprises and Media Services (“Broadcasting Law“), the Radio and Television Supreme Council (“RTÜK“) and the Turkish Telecommunications Authority (“BTK“) have been working on the draft Regulation on the Presentation of Radio Television and On-Demand Publications on […]

October 10, 2018

FX Payment Ban for Resident and Roofed Workplace Lease Agreements Explained in Eight Questions

Legal Alerts
Real Estate

Recent Development The Ministry of Treasury and Economy (“Ministry”) Communiqué No. 2008-32/34 on the Decree No. 32 Regarding Protection of the Value of the Turkish Currency (“Communiqué”) with regard to the Decree No. 32 Regarding the Protection of the Value of the Turkish Currency introduced a ban on FX payment (“Decree No. 32”) was published […]

October 7, 2018

Exemptions to FX Payment Ban Announced

Legal Alerts
Banking & Finance

Recent Development The amendments to the Decree No. 32 Regarding the Protection of the Value of the Turkish Currency (the “Decree No. 32“) published in the Official Gazette on September 13, 2018 introduced a ban on FX and FX-indexed payments for certain agreements between Turkish residents. The Ministry of Treasury and Economy (the “Ministry“) was […]

October 4, 2018

Turkey Publishes Draft Regulation on Authorization of Traditional Herbal Medical Products

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK“) recently published on its website the draft Regulation on Authorization of Traditional Herbal Medicinal Products (“Regulation“). Within the scope of harmonization with EU legislation, the Regulation is based on the EU Directives No. 2001/83/EC and 2004/24/EC. What’s New? The Regulation sets out the procedures and […]

October 4, 2018

Turkey Publishes Draft Regulation on Foods for Medical Purposes

Legal Alerts
Healthcare

Recent Development The Turkish Medicines and Medical Devices Agency (“TİTCK“) recently published on its website the draft Regulation on Foods for Medical Purposes (“Regulation“). Within the scope of harmonization with EU legislation, the Regulation is based on the EU Directive 609/2013/EC. What’s New? The Regulation sets out the labelling rules, procedures and principles for the […]

October 2, 2018

CMB Warns Investors About Initial Coin Offerings

Legal Alerts
Capital Markets

Recent Developments The Capital Markets Board (“CMB“) warned investors about the risks of initial coin offerings (“ICOs“) in its bulletin dated September 27, 2018, stating that ICOs will not be subject to its regulations. What Does the Announcement Say? ICOs, also described as “cryptocurrency sales” or “token sales,” aim to procure funding by using block […]

September 28, 2018

Amendment to Natural Gas Tariff Regulation

Legal Alerts
EMI

Recent Development The Energy Market Regulatory Authority (“EMRA“) amended the Natural Gas Tariff Regulation (“Regulation“). The amendment was published in the Official Gazette No. 30548 dated September 27, 2018 (“Amendment“) and entered into force on the same date. What’s New? The current practices as to the tariff revisions set out under the procedures and principles […]

September 27, 2018

Court of Cassation Delivers Jurisprudential Unification Decision Subjecting All Domestic Arbitral Awards Rendered Following Effective Date of Code of Civil Procedure No. 6100 to Annulment Actions

Legal Alerts
Dispute Resolution

Recent Development The General Assembly of Civil Chambers for Jurisprudential Unification of the Turkish Court of Cassation rendered a decision providing that all domestic arbitral awards delivered after 1 October 2011, the effective date of the Code of Civil Procedure No. 6100 (“New CCP”), will be challenged with an annulment action, regardless of the date […]

September 26, 2018

New Exemption to FX Loan Restrictions

Legal Alerts
Banking & Finance

Recent Development The Capital Movements Circular introduced a new exemption to FX loan restrictions. The amendment allows the Technology Development Foundation of Turkey (Türkiye Teknoloji Geliştirme Vakfı) to extend FX loans from its funds received from the Ozone Projects Fund. The loans can be extended to Turkish residents meeting certain criteria set out in the […]

September 25, 2018

Framework Agreement on Financial Restructurings Entered into Force

Legal Alerts
Banking & Finance

Recent Developments The financial restructuring framework agreement (“Framework Agreement“) prepared by the Banks Association of Turkey (“BAT”) under the Regulation on the Restructuring of Debts Owed to the Financial Sector (“Regulation”) was signed by banks and other financial institutions (“Creditors“). The Framework Agreement entered into force with the BRSA’s approval. What’s New? The Framework Agreement […]

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