Regulatory Alerts2020-10-01
Added · Updated
Communiqué on Foreign Capital Market Instruments and Depository Receipts and Foreign Investment Funds
The Capital Markets Board of Turkey issued Communiqué VII-128.4 to establish regulatory principles for the issuance of foreign capital market instruments, depositary receipts, and the sale of foreign investment funds within Turkey. The document mandates Board applications for public offerings and private placements, defines eligibility criteria such as investment-grade ratings, and requires the appointment of local representatives to ensure investor protection. It further standardizes operational procedures including prospectus content, payment mechanisms, and public disclosure obligations aligned with domestic listing requirements.
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