Regulatory Alerts2013-07-02
Added · Updated
Communiqué on Principles Regarding Portfolio Management Companies and Activities of Such Companies
The Capital Markets Board of Turkey issued this Communiqué to regulate the establishment, operating conditions, and activities of portfolio management companies under the Capital Market Law. It mandates strict eligibility criteria for founders and shareholders, including minimum capital requirements and integrity checks, while defining the necessary organizational structures and specialized personnel for operations. The document further outlines licensing procedures, internal control obligations, and specific provisions for companies with limited activities or foreign client bases.
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