PUBLICATIONS

RECENT DEVELOPMENTS REGARDING DEBT INSTRUMENTS AT TURKISH CAPITAL MARKETS

Capital Markets Board of Turkey (“CMB”) has introduced its Amendments on the Communiqué on Debt Instruments Serial No. II-31.1a on 18 February 2017 with the Official Gazette numbered 29983 (the “Amendment”). The Amendment aims to ease the debt instrument issuance process and provides, amongst others, the following changes:

CAPITAL MARKETS BOARD’S RECENT AMENDMENT ON THE COMMUNIQUÉ ON MARKET ABUSE (VI-104.1)

The Capital Markets Board of Turkey has introduced its Amendment on the Communiqué on Market Abuse Serial No. VI-104.1.a, which was published on 18 February 2017 in the Official Gazette numbered 29983 (the “Amendment”). In the Amendment, Article 6 (Market Abuse Actions through Communication or Correspondence) and Article 8 (Actions Which Are Not Deemed as Market Abuse Actions) of the Communiqué on Market Abuse VI-104.1(the “Communiqué”) are amended.

RECENT DEVELOPMENTS ON THE DISCLOSURE REQUIREMENTS BY THE CAPITAL MARKETS BOARD

Turkish Capital Markets Board (CMB) has announced major amendments to the Communiqué on Material Events Disclosure No. II-15.1 and the Communiqué on Public Disclosure Platform No. VII 128.6 in order to meet the changing market needs and ensure the market activities being in line with the international standards for the sake of CMB’s main project, Istanbul Finance Centre. These amendments are published in the Official Gazette on 10 February 2017 with the gazette number 29975. 

RECENT AMENDMENTS ON INVESTMENT SERVICES AND ACTIVITIES LEGISLATION

The Capital Markets Board (“CMB”) introduced new rules and obligations with the new communiqués amending Communiqué on Principles Regarding Investment Services Activities and Ancillary Services No. III-37.1 and Communiqué on Principles of Establishment and Operation of the Investment Firms No. III-39.1 for the investment companies and investors regarding derivatives and leveraged transactions and also introduced new incentives to encourage investment banks to acquire brokerage firms in order to expand their scope of activities to act as intermediaries in trading of shares listed on Borsa Istanbul.