Regulatory Alerts2021-09-01
Added · Updated
Communiqué on Corporate Governance
The Capital Markets Board of Turkey issued Communiqué II-17.1 to establish mandatory corporate governance principles and procedures for related party transactions for corporations listed on the National Market. The regulation categorizes companies into three groups based on market value to determine specific compliance obligations, requiring annual disclosure of governance and sustainability practices. It further mandates independent board member appointments, third-party appraisals for significant related party deals, and grants the Board authority to enforce compliance through court actions or ex officio appointments.
Topics
Share