A draft Turkish bill, inspired by the European Data Protection Directive 95/46/EC, contains the building blocks for a privacy regime which would introduce such concepts as prior notification of data subjects, registration with the data protection regulator and restrictions on data transfers. In this article, Begüm Yavuzdoğan Okumuş, Bentley James Yaffe and Alp Turan, Senior Associate, Associate and Trainee respectively at Gün + Partners in Istanbul, discuss the relevant…
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Beril Yayla Sapan and Neslisah Borandı of Gün + Partners examine the Turkish International Arbitration environment.
November 20, 2014 saw the long-awaited Law on the Istanbul Arbitration Centre passed in Turkey, coming into force in early 2015. The law forms part of the government’s over arching plan to support the economy through financial reforms – all with the aim of promoting Turkey as an attractive international financial centre.
The new law establishes the Istanbul…
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If a party had followed such a strategy before a recent decision issued by the Re-Examination and Evaluation Board of the TPI, the opposition against the new application would most probably have been rejected by the TPI on the ground that the application was based on a valid earlier registration and that the TPI does not have any legal obligation to wait for the finalisation of a court action. Further to such decision, the party would probably have waited for the registration…
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1 Regulatory
1.1 Which government bodies/agencies regulate insurance (and reinsurance) companies?
The insurance regulatory agency in Turkey is the Insurance Undersecretariat of the Treasury (the “Undersecretariat”). As it is positioned under the Prime Ministry, it is not an independent body.
1.2 What are the requirements/procedures for setting up a new insurance (or reinsurance) company?
An insurance company in Turkey can only operate in the form of a joint-stock company or…
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A global pharmaceutical company filed a patent infringement action against a local generic pharmaceutical company on the grounds that the generic company had been granted an abridged marketing authorisation referring to the original pharmaceutical’s dossier. The generic company also applied for inclusion on the Social Security Institution (SSI) reimbursement list. The originator company claimed that its original pharmaceutical was protected via a patent, and thus there was a…
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Foreign investment has been considered as an important driving force of stable economic growth in the last few decades in Turkey. Especially in the last ten years, we have seen a considerable increase in the foreign investment in Turkey through large or medium sized M&A deals, joint ventures of Turkish and foreign investors and start-up foreign investments in all sizes and in various sectors. Although total foreign direct investment inflows to Turkey prior to 2003 were…
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