January 6, 2021

Hamiline yazılı paylar Merkezi Kayıt Kuruluşu’na kaydedilmeye başlanacak.

31 Aralık 2020 tarihinde, 31351 sayılı Resmi Gazete’de yayınlanan 7262 sayılı Kitle İmha Silahlarının Yayılmasının ve Finansmanının Önlenmesine İlişkin Kanun (“Kanun”) ile anonim şirketlerde hamiline yazılı paylar ve hamiline yazılı pay sahiplerinin Türkiye’de Merkezi Kayıt Kuruluşu’na – Merkezi Kayıt Kuruluşu A.Ş. (“MKK”) bildirilmesi ve kayıt altına alınması yükümlülüğü getirilmiştir.
January 6, 2021

Bearer shares will start to be recorded to Central Registry Agency in Turkey.

With the Law on Prevention of Distribution and Financing of Weapons of Mass Destruction numbered 7262, published in the Official Gazette dated 31 December 2020, numbered 31351 (“Law”), bearer shares and bearer shareholders in joint stock companies are obliged to be notified and recorded to the Central Registry Agency in Turkey - Merkezi Kayıt Kuruluşu A.Ş. (“MKK”).
January 5, 2021

Communiqué on squeeze-out and sell-out rights in public companies has been published

Recently, CMB published the Communiqué on Squeeze-Out and Sell-Out Rights numbered II-27.3 (“New Communiqué”) in the Official Gazette dated 31 December 2021 numbered 31351.
January 4, 2021

Recent amendments on the Repo Communiqué has been published

The Capital Markets Board of Turkey (“CMB”) adopted the recent amendments on the Draft Amendment Communiqué on Principles Regarding Repo and Reverse Repo Transactions of Intermediary Institutions numbered III-45.2.a (“Draft Communiqué”), to the Communiqué on Principles Regarding Repo and Reverse Repo Transactions of Intermediary Institutions numbered III-45.2 (“Repo Communiqué”). The amended Repo Communiqué is published in the Official Gazette dated 31 December 2020, numbered 31351.
December 1, 2020

BRSA loosened the limits toward Turkish Banks’ TRY transactions with Foreign Financial Institutions

This time, on 27 November 2020, with its decision numbered 9273, BRSA loosened the limits on Turkish banks’ TRY transactions engaged with FFIs and raised the afore-mentioned ratio from 0,5 percent (0.5%) to 2,5 percent (2,5%).
November 25, 2020

BDDK, bankaların aktif rasyo hesaplama zorunluluğunu sona erdirdi.

Bankacılık Düzenleme ve Denetleme Kurumu (“BDDK”), 24 Kasım 2020 tarihinde 9271 sayılı bir karar alarak, Kovid-19 salgının ekonomiye ve piyasaya olan negatif etkilerinin azaltılması ve bankaların kredi kullandırmasının teşvik edilmesi ve kaynaklarını daha verimli kullanmasını sağlamak amacı ile, 1 Mayıs 2020 tarihinden itibaren yürürlükte olan Türkiye’deki bankaların haftalık olarak aktif rasyolarını hesaplamalarını zorunlu tutan uygulamasına son vermiştir.
November 25, 2020

BRSA abolished the obligation of banks to calculate their active ratio.

On 24 November 2020, with its decision numbered 9271, Banking Regulation and Supervision Agency (“BRSA”), has removed the obligation of Turkish banks to calculate their active ratio on a weekly basis
November 6, 2020

Draft Communiqué on Squeeze-Out and Sell-Out Rights decreases the shareholding threshold for the exercise of such rights in public companies

on 28 October 2020, Capital Markets Board of Turkey (the “CMB”) has announced the draft Communiqué on Squeeze-Out and Sell-Out Rights numbered II-27.3 (the “Draft Communiqué”) and presented the Draft Communiqué to public consultation.
September 9, 2020

Sermaye Hareketleri Genelgesi’nde döviz kredilerinde kredi bakiyesi hesaplamasına ilişkin yeni bir kural getirildi.

Türkiye Cumhuriyeti Merkez Bankası (“TCMB”) 2 Mayıs 2018 tarihli Sermaye Hareketleri Genelgesi’ne (“Genelge”) “Kredi Bakiyesinin Hesaplanması” başlıklı 16/A sayılı yeni bir madde eklemiştir.
September 9, 2020

A new rule regarding loan balance calculation of FX loans is adopted to Capital Movements Circular

Central Bank of the Republic of Turkey (“CBRT”) adopted a new provision numbered 16/A titled
January 5, 2021

Communiqué on squeeze-out and sell-out rights in public companies has been published

Recently, CMB published the Communiqué on Squeeze-Out and Sell-Out Rights numbered II-27.3 (“New Communiqué”) in the Official Gazette dated 31 December 2021 numbered 31351.
January 4, 2021

Recent amendments on the Repo Communiqué has been published

The Capital Markets Board of Turkey (“CMB”) adopted the recent amendments on the Draft Amendment Communiqué on Principles Regarding Repo and Reverse Repo Transactions of Intermediary Institutions numbered III-45.2.a (“Draft Communiqué”), to the Communiqué on Principles Regarding Repo and Reverse Repo Transactions of Intermediary Institutions numbered III-45.2 (“Repo Communiqué”). The amended Repo Communiqué is published in the Official Gazette dated 31 December 2020, numbered 31351.
November 6, 2020

Draft Communiqué on Squeeze-Out and Sell-Out Rights decreases the shareholding threshold for the exercise of such rights in public companies

on 28 October 2020, Capital Markets Board of Turkey (the “CMB”) has announced the draft Communiqué on Squeeze-Out and Sell-Out Rights numbered II-27.3 (the “Draft Communiqué”) and presented the Draft Communiqué to public consultation.
July 10, 2020

Turkish Regulator published New Communiqué on Significant Transactions and Right to Exit

Capital Markets Board of Turkey (“CMB”) published the Communiqué on Significant Transactions and Right to Exit (II-23.3) in the Official Gazette dated 27 June 2020 and No. 31168 (“New Communiqué”) as the secondary legislation of the changes recently adapted to Article 23/1 and Article 24 of Capital Markets Law No. 6362 . Upon publication of the New Communiqué, the predecessor Communiqué on Common Principles regarding Significant Transactions and Right to Exit (II-23.1) dated 24 December 2013 and No. 28861 (“Abolished Communiqué”) has been abrogated.
July 2, 2020

Regulator removed the ban on short sale transactions initially for BIST-30 Index stocks

Capital Markets Board of Turkey (“CMB”) decided to partially end the ban on short sales transactions taking place in the equity market of Istanbul Stock Exchange (Borsa Istanbul) that had been in place since October 2019. This has been announced in CMB’s Weekly Bulletin No. 2020/40 on 30 June 2020 (“Board Decision”).
June 14, 2020

Kurul, İpotek Finansman Kuruluşlarının Borçlanma Aracı ve VİDMK ihraçlarına bir takım kolaylıklar getirdi.

Sermaye Piyasası Kurulu tarafından 13 Haziran 2020 tarihli ve 31154 sayılı Resmi Gazete’de VII-128.8 sayılı Borçlanma Araçları Tebliği’nde Değişiklik Yapılmasına İlişkin Tebliğ (VII-128.8.a) ile III-58.1 sayılı Varlığa veya İpoteğe Dayalı Menkul Kıymetler Tebliği’nde Değişiklik Yapılmasına Dair Tebliğ (III-58.1.b) (“Değişiklik Tebliğleri”) yayınlandı. Değişiklik Tebliğleri, 11. Kalkınma Planı (2019-2023) ve 2020 Cumhurbaşkanlığı Yıllık Programı çerçevesinde alınan tedbirlere uyumlu olarak, ipotek finansman kuruluşlarının (“İFK”) borçlanma aracı ve varlığa veya ipoteğe dayalı menkul kıymet (“VİDMK”) ihraçlarının daha aktif hale gelmesini ve artmasını amaçlamaktadır. Buna bağlı olarak, İFK’ların ihraç limitinin sermayesinden bağımsız hale getirilmesi ve ihraç maliyetlerinin azaltılmasına yönelik değişiklikler Değişiklik Tebliğleri’nin yayımı tarihi itibari ile yürürlüğe girmiş bulunmaktadır.
June 1, 2020

Kamu kurum ve kuruluşlarının yönetim hakimiyetine sahip olduğu ve payları borsada işlem gören halka açık ortaklıkların birleşme işlemlerine yeni kolaylıklar getirildi.

Sermaye Piyasası Kurulu, 30 Mayıs 2020 tarihli 31140 sayılı Resmi Gazete’de II-23.2.b sayılı Birleşme ve Bölünme Tebliği’nde (II-23.2) Değişiklik Yapılmasına Dair Tebliği (“Değişiklik Tebliğ”) yayınlamıştır. Kurul, bu değişikliğin gerekçesi olarak, yönetim hakimiyeti kamu kurum ve kuruluşlarında olan ve payları borsada işlem gören halka açık ortaklıkların (“Kamu HAO”) birleşme işlemlerine taraf olmalarının ve yeniden yapılandırılmalarının önünü açmak istediğini açıklamıştır.
May 24, 2020

BRSA obliges the settlement of gold purchases equal to or more than 100 gram to be on the value date

On 21 May 2020, Banking Regulation and Supervision Agency (“BRSA”), with its decision numbered 9033, publicly announced that the daily gold purchases of real persons and legal entities, as of 22 May 2020, equal to or more than 100 gram, will be posted to the purchaser’s account and/or be available for immediate use on the value date which is 1 (one) business day after the trade date. The legal ground of BRSA for this decision is to enhance the sustainability of the financial markets and support the effective credit system.
May 17, 2020

Turkish Regulator eases covered bond issuance for mortgage finance institutions

April 23, 2020

CMB published the Draft Communiqué on Debt Instrument Holders Board

In accordance with Article 31/A of Capital Markets Law No. 6362, Capital Markets Board of Turkey (“CMB”) published the Draft Communiqué on Debt Instrument Holders Board No. III-31/A.1 dated 22 April 2020 (“Draft Communiqué”). CMB expects all the related authorities, entities and parties to share their comments and suggestions regarding the Draft Communiqué with CMB until 15 May 2020.