Capital Markets Board (“CMB”) has increased the financial conditions for initial public offerings, based on the re-evaluation ratio, with its Decision dated 26 December 2024 and numbered 66/2058, announced in the CMB Bulletin dated 31 December 2024. Some of the significant changes are highlighted below:

12 Mart 2024 tarihinde yayımlanan Resmi Gazete ile 6698 sayılı Kişisel Verilerin Korunması Kanunu’nun (“Kanun”) “Kişisel verilerin yurt dışına aktarılması” başlıklı 9. maddesinde değişiklik yapılmıştı. Ardından, 10 Temmuz 2024 tarihli Resmi Gazete ile Kişisel Verilerin Yurt Dışına Aktarılmasına İlişkin Usul Ve Esaslar Hakkında Yönetmelik

Article 9 of the Law on the Protection of Personal Data No. 6698 (“Law”) titled “Cross-border transfer of personal data” was amended by the Official Gazette published on March 12, 2024. Subsequently, the Regulation on the Procedures and Principles Regarding the Cross-Border Transfer of Personal Data

The Draft Regulation on Sustainability Audit (“Draft Regulation”), which will regulates (i) the sustainability audit to be conducted mainly within the framework of the Turkish Commercial Code No. 6102, the Decree Law No. 660 on the Organization and Duties of the Public Oversight, Accounting and Auditing Standards Authority (“Authority”) or on a voluntary basis, (ii) the authorization and responsibilities of independent audit firms and independent auditors who will operate in the field of sustainability, (iii) supervision and audit by the Authority and (iv) the administrative sanctions to be with respect thereto, is submitted to public’s view.

The Capital Markets Board (“CMB”) published the Communiqué Amending the Communiqué on Principles Regarding Venture Capital Investment Funds (III-52.4.c) (“Amendment Communiqué”), which regulates the principles regarding the establishment of venture capital investment funds, operating norms and rules, issuance of participation shares and their sale to qualified investors, issuance documents, investor information, liquidation and termination, in the Official Gazette No. 32669 on 21 September 2024, which came into force as of the date of publication.

Sermaye Piyasası Kurulu (“SPK”) tarafından 21 Eylül 2024 tarihinde 32669 sayılı Resmî Gazete ile girişim sermayesi yatırım fonlarının kuruluşları, faaliyet ilke ve kuralları, katılma paylarının ihracı ile bunların nitelikli yatırımcılara satış, ihraç belgesi, yatırımcılarının bilgilendirilmesi, tasfiye ve sona ermelerine ilişkin esasları düzenleyen Girişim Sermayesi Yatırım Fonlarına İlişkin Esaslar Tebliği

The Climate Change Presidency (“Presidency”) has submitted the draft Regulation on Türkiye Green Taxonomy Regulation (“Draft Regulation”) to public’s view. The Draft Regulation aims to regulate the principles and procedures of the Green Taxonomy of Türkiye to (i) support economic activities aligned with sustainable development goals, (ii) promote the flow of financing toward sustainable investments, and (iii) prevent greenwashing in the market. The authority to enforce the Draft Regulation lies with the Minister of Environment, Urbanization, and Climate Change.

Due to the difficulties for certain sectors to reach the increased financial thresholds while considering an initial public offering (IPO), on 28.03.2024, the Capital Markets Board (Board) has announced a principle decision regarding the decrease of the monetary thresholds, which was increased at the end of 2023 for certain companies operating in the

The Public Oversight, Accounting and Auditing Standards Authority (Authority) has determined the scope of application of the Turkish Sustainability Reporting Standards (TSRS) while preparation of sustainability reports by businesses, companies and institutions through the decision of its Board (Board) dated 27 December 2023.

The Draft Regulation on the Operation of Carbon Markets (“Draft Regulation”) as a part of secondary legislations to Draft Climate Law is submitted to public’s view.