NEW AMENDMENT TO ADDRESS REWARD-BASED CROWDFUNDING AND WHAT TO EXPECT:

The new amendment regulates reward-based crowdfunding in Turkey.

BORSA ISTANBUL IS READY TO OFFER ITS SHARES TO THE PUBLIC:

THE DECREE ON THE INITIAL PUBLIC OFFERING (“IPO”)OF BORSA ISTANBUL ANONIM SIRKETI (ISTANBUL STOCK EXCHANGE MARKET) (“BORSA ISTANBUL”) SHARES ISSUED BY THE COUNCIL OF MINISTERS HAS BEEN PUBLISHED IN THE OFFICIAL GAZETTE ON NOVEMBER 14, 2014.

NEW COMMUNIQUE ON SECURITY INVESTMENT COMPANIES:

THE COMMUNIQUÉ ON PRINCIPLES REGARDING SECURITY INVESTMENT COMPANIES (“COMMUNIQUÉ”) HAS BEEN PUBLISHED IN THE OFFICIAL GAZETTE DATED AUGUST 29, 2013 AND NUMBERED 28750, REPLACING THE FORMER COMMUNIQUÉ DATED AUGUST 5, 2011 AND NUMBERED 28016 (“REPELLED COMMUNIQUÉ”).

NEW CIRCULARS ON (I) SUBSCRIPTION OF RECEIVABLES AS SHARE CAPITAL CONTRIBUTION AND (II) QUORUM FOR DISMISSAL OF A SHAREHOLDER FROM THE PARTNERSHIP:

THE GENERAL DIRECTORATE OF DOMESTIC TRADE (“GENERAL DIRECTORATE”) HAS RECENTLY ISSUED TWO CIRCULARS WITH RESPECT TO THE TURKISH COMMERCIAL CODE (“TCC”).