Regulatory Alerts2020-10-01
Added · Updated
Communiqué on Principles Regarding Joint-Stock Corporations Under Management Control of Cooperatives
The Capital Markets Board issued this Communiqué to regulate joint-stock corporations with annual sales of at least 50 million Turkish Liras that are under the management control of cooperatives or their unions. These entities are deemed publicly-held and must apply for inclusion within ten business days, after which they are subject to exchange-traded reporting standards, independent audits, and specific corporate governance requirements. The regulation also outlines procedures for exclusion from this scope and establishes a fee structure based on the nominal value of shares.
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