Delivering Correct Information to Our Clients
On Time is Among Our Priorities

SRP-Legal

Delivering Correct Information
to Our Clients On Time
is Among Our Priorities

SRP-Legal

Updates

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Within the framework of the Regulation on the Amendment of the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism which entered into force through the Presidential Decision dated 30.04.2021 and numbered 3941 published in the Official Gazette dated 01.05.2021 and numbered 31471, the crypto asset service providers have been specified among the “Obliged Parties” stated under the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism (“Regulation”).

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Influencers also known as social media celebrities are people who have large number of followers on social media and have the capacity to influence this audience and thus have the effect of changing the purchasing decisions of their followers. Viral marketing method is mostly made by the "Influencer". However, in advertising activities, it is especially necessary to act in accordance with the competition law and to comply with the newly introduced tax regulation. Some of legal regulations regarding advertising and marketing activities carried out through influencers are as follows:

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The Regulation on the Amendment of the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism (“Amending Regulation”) entered into force through the Presidential Decision dated 30.04.2021 and numbered 3941 published in the Official Gazette dated 01.05.2021 and numbered 31471.

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The Regulation on Active Co-Operation for Discovery of Cartels, ("Leniency Regulation") has been published in the Official Gazette dated 15.02.2009 and numbered 21142. The purpose of the regulation is to regulate the procedures and principles regarding the prevention of the imposed fines specified in the Law No. 4054 on the Protection of Competition ("Law"), or the reduction of penalties to be imposed to the undertakings, and the directors and employees of the undertakings who are actively cooperating with the Competition Authority ("Authority") in order to reveal the cartels prohibited by Law.

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The period for the prohibition of employment contract termination due to Covid-19 pandemic is extended through the Presidential Decision dated 29.04.2021 and numbered 3930 (“Decision no. 3930”) published in the Official Gazette dated 30.04.2021 and numbered 31470, starting from 17.05.2021 until 30.06.2021, within the frame of the provisional article 10 of the Labour Act no. 4857 (“Labour Law”).

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"Laying Down Harmonised Rules on Artificial Intelligence and Amending Certain Union Legislative Acts" ("Proposal") regulation has been proposed on 21.04.2021, by the European Union Commission ("EU Commission"). The regulation in question is a legal regulation that includes the framework of rules regarding artificial intelligence. The approval of the European Parliament and member states is required for the regulation proposal to enter into force. When the regulation is adopted, the activities of other countries’ technology companies operating in EU countries will also be restricted.

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“The Regulation on Remote Identification Methods and Establishment of Contractual Relations in Electronic Environment to be Used by Banks”, ("Regulation") has been drafted by the Banking Regulation and Supervision Agency (“BRSA”) and has been published in the Official Gazette dated 01.04.2021 and numbered 31441.

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Turkey’s Competition Authority has launched an investigation into online advertising sector on March 6, 2021, after the Board’s meeting on January 21, 2021. It is aimed to find out the structure and functioning of the sector, the structural and / or behavioral competition problems in the sector and discuss the adequacy of existing competition law instruments and possible new instruments, in order to establish an effective competition. In this respect, it is planned to meet with policy makers, enterprises and association of undertakings in order to find out market failures and competition problems and to propose solutions in the process.