The Current Legal Landscape and Major Areas of Risk Exposure Based on Practical Experience
Communique Regarding the Amendments ("Amendment Communique") (II-26.1.b) to the Communiqué on Takeover Bids (II-26.1) (“Communique) announced by the Capital Markets Board (“CMB”) has been published in the Official Gazette dated 05.06.2018 numbered 30442 and entered into force at the date of its publication.
The Turkish Competition Board (the “Board”) has recently published its reasoned decision with respect to its ex officio preliminary investigation on (i) the validity of the non-compete obligation in the articles of association (“AoA”) of a joint venture company, namely WKS Istanbul Tekstil Kalite Kontrol Hiz. Ltd. Şti. (“WKS Istanbul”), which is active in quality control of textiles and (ii) the parties’ request for negative clearance of the relevant non-compete obligation.
Linklaters has advised Turkey’s Garanti Bank on its issue of USD 75 million of so-called "gender bonds," focused on financing small enterprises and companies owned or managed by women in Turkey. The issue — the first such in an emerging market — was subscribed by the IFC, a member of the World Bank Group.
Turkey carries its position of attraction from the foreign direct investments despite the temporary volatility from time to time. In line with the trends different sectors shine out and consequently different instruments attract investors. Real Estate sustainably carries its prominent investment instrument position due to functions and consistent yields.
Under the Turkish data protection law (“DPL”), data subjects have the right to learn who processes their personal data, the purposes and legal bases of these processing activities, and to whom and for what purposes such personal data are transferred. These rights arise from the data controllers’ obligation to inform data subjects about their processing activities. During the collection of personal data, the data controller or any other person authorized by the data controller is obliged to provide data subjects with certain information, such as the identity of the data controller and of his representative (if any), the purposes of the processing, to whom and with what purpose the processed personal data can be transferred, and the method and legal reason/basis of collection. The same article of the DPL further requires data controllers to provide information to data subjects about certain other rights, as discussed below.