24 October 2016
Reforms to the Law on Pledges of Movable Property: Business Enterprises in Turkey Expected to Enjoy Easier Access to Finance Sources:
The Draft Law on Pledges of Movable Property in Commercial will introduce significant changes to the current legal regime on pledges of moveable property by (i) establishing a specific registry for pledges of movable property, (ii) expanding the scope of the pledge, (iii) allowing for pledges to be established without transferring the possession of movable property from pledgors to pledgees, and (iv) accomodating alternate routes to foreclosure.
18 October 2016
07 October 2016
Data Protection Law is now fully effective, the Parliament elects the first members of the Data Protection Board:
The Law on the Protection of Personal Data is fully effective as of today. This means that the articles relating to (i) transfer of personal data, (ii) rights of the data subject, (iii) data controllers’ registry, (iv) administrative fines, and (v) criminal penalties are now in force.
03 October 2016
28 September 2016
Data Protection Law becomes fully effective in just over a week, administrative fines can reach as high as TRY 1,000,000:
As of 7 October 2016, the Data Protection Law shall be fully effective. Although the supervisory data protection authority is yet to be established, we highly recommend our clients to take the necessary steps towards full compliance with the Data Protection Law.