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News & Insights

November 5, 2018

Turkish Financial Restructuring – International Banks Back in the Game!

Legal Alerts
Banking & Finance

Recent Developments The Banking Regulatory and Supervisory Authority (the “BRSA”) distributed to the members of The Turkish Banks Association (the “TBA“) an amendment regulation (the “Draft Regulation“) to the Regulation Regarding the Restructuring of Debts Owed to the Financial Sector (the “Regulation“) on November 1, 2018. What’s New? If the Draft Regulation is published in […]

November 5, 2018

Zoning Peace Application Date Extended

Legal Alerts
Real Estate

Recent Development The Decree No. 257 on the Extension of the Building Registration Certificate Application Date for Buildings Constructed Before December 31, 2017 Without a License or In Violation of Their Licenses (“Decree”) was published in the Official Gazette No. 30581 and dated October 31, 2018. What Does the Decree Say?  The Decree extends the […]

November 2, 2018

Major Structural Changes to Turkish Development Bank

Legal Alerts
Banking & Finance

Recent Developments The Law No. 7147 on the Turkish Development and Investment Bank Joint Stock Company (the “Law“) entered into force with its publication in the Official Gazette dated October 24, 2018. What’s New? Established in 1999, the Turkish Development Bank Joint Stock Company will continue its operations as a development and investment bank under […]

October 26, 2018

TİTCK Publishes Application and Registration Guideline

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK“) published the Application and Registration Guideline (“Guideline“) on October 17, 2018. The Guideline was drafted based on the feedback provided by companies operating in the cosmetics sector regarding problems they encountered while utilizing the application and tracking systems. What’s New? The Guideline will facilitate companies’ […]

October 25, 2018

Ministry of Trade Conducts Inspections for Unfair Increase in Product Prices

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Trade (“Ministry“) continues its inspections on the unfair price increases of consumer goods and services following the recent amendments to the Regulation on Commercial Advertising and Unfair Commercial Practices (“Regulation“) adopted based on Law No. 6502 on the Protection of Consumers (“Consumer Protection Law“). What’s New? According to the recent […]

October 24, 2018

Turkish Supreme Court Rules Spousal Consent Not Required in Avals

Legal Alerts
Banking & Finance

Recent Developments The Turkish Supreme Court (Yargıtay) (“Supreme Court“) ruled that obtaining spousal consent is not required for avals. The Grand General Assembly of Case Law Unification’s decision dated April 20, 2018 was published in the Official Gazette dated October 16, 2018 and numbered 30567 (the “Supreme Court Unification Decision”). What does the law say? […]

October 23, 2018

Comprehensive Amendments to Payment Services and Electronic Money Issuance Legislation

Legal Alerts
Banking & Finance

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 […]

October 23, 2018

Ministry of Environment and Urban Planning Publishes Regulation on Ecolabels

Legal Alerts
International Commercial and Trade

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 […]

October 19, 2018

FX Payment Ban on License and Service Agreements for Software and Hardware Developed in Turkey Clarified

Legal Alerts
IT & Communications

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. […]

October 18, 2018

Turkey Publishes Draft Regulation on Medical Devices

Legal Alerts
Healthcare

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. […]

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