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

The new amendment regulates reward-based crowdfunding in Turkey.

THE COUNCIL OF MINISTERS INTRODUCES IMPORTANT CHANGES TO INCENTIVES IN CERTAIN INVESTMENTS:

THE COUNCIL OF MINISTERS HAS IMPLEMENTED SOME CHANGES TO ITS DECREE DATED JUNE 06, 2012 REGARDING STATE INCENTIVES WHICH WILL BE PROVIDED TO CERTAIN INVESTMENTS (“DECREE”) THROUGH ITS DECREE PUBLISHED IN THE OFFICIAL GAZETTE DATED APRIL 08, 2015 (“AMENDING DECREE”).

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 COMMUNIQUÉ ON REAL ESTATE INVESTMENT COMPANIES:

THE CAPITAL MARKETS BOARD OF TURKEY (“CMB”) HAS RECENTLY PUBLISHED A NEW COMMUNIQUÉ ON THE PRINCIPLES REGARDING REAL ESTATE INVESTMENT COMPANIES (III-48.01) (“COMMUNIQUÉ”).