April 17, 2020

BRSA and CMB imposed restrictions on derivative transactions carried out with foreign parties in response to Covid-19 Outbreak

Due to Covid-19 Outbreak, as a measure to protect the financial stability, Banking Regulation and Supervision Agency (“BRSA”) and Capital Markets Board (“CMB”) imposed certain restrictions on derivative transactions to be carried out with foreign counterparties.
April 17, 2020

Covid-19 Salgını Nedeni ile BDDK ve SPK yurtdışı ile yapılan türev işlemleri kısıtladı

Covid-19 salgını nedeniyle, finansal istikrarın korunması amacıyla Bankacılık Düzenleme ve Denetleme Kurumu (“BDDK”) ve Sermaye Piyasası Kurulu (“SPK”) arka arkaya basın açıklamaları yaparak yurtdışı yerleşikler ile yapılacak türev işlemlere ilişkin kısıtlamalar getirmiştir.
April 7, 2020

Crowdfunding Models in Turkey

Capital Markets Board of Turkey ("CMB"), authorized with the Capital Markets Law No. 6362 (the "Law"), legally accepted crowdfunding in Turkey in December 2017 by making amendments on the Law and following that, issued a communiqué concerning equity-based crowdfunding model that took effect on 3 October 2019, Communiqué on Equity Based Crowdfunding No. III-35/A.1 (the "Communiqué").
March 25, 2020

CMB Adopts Measures In Response to Covid-19 Outbreak

Due to the negative impact of Covid-19 on human health and physical working environment, CMB adopts regulatory and operational relief measures in response to Covid-19 Outbreak as announced with CMB Bulletin No. 2020/19 dated 23 March 2020.
March 3, 2020

Recent Changes to Capital Markets Law No. 6362 through Law No. 7222

Significant amendments are made in Capital Markets Law of Turkey No. 6362 (the “CML”) through Law No. 7222, amending the Banking Law and Other Codes, published in the Official Gazette dated 25 February 2020 and No. 31050 (“Law No. 7222”). Below, you may find an outline of these changes within the scope of the referred Law.
March 2, 2020

Ban on Short Sale Transactions

On 28 February 2020, Capital Markets Board of Turkey (“CMB”) announced a ban on short sales transactions taking place in the equity market of Istanbul Stock Exchange (Borsa Istanbul) with CMB’s Weekly Bulletin No. 2020/14. This ban also applies for the positions that are opened and closed within the same trading day without clicking the short sell button. In its announcement, CMB clarified once again that investment institution itself is responsible and liable to control and monitor its compliance with CMB’s decision.