ARTICLE
13 February 2023

Circular On Bank Client Confidentiality Regulation Published (Podcast)

EA
Esin Attorney Partnership

Contributor

Esin Attorney Partnership, a member firm of Baker & McKenzie International, has long been a leading provider of legal services in the Turkish market. We have a total of nearly 140 staff, including over 90 lawyers, serving some of the largest Turkish and multinational corporations. Our clients benefit from on-the-ground assistance that reflects a deep understanding of the country's legal, regulatory and commercial practices, while also having access to the full-service, international and foreign law advice of the world's leading global law firm. We help our clients capture and optimize opportunities in Turkey's dynamic market, including the key growth areas of mergers and acquisitions, infrastructure development, private equity and real estate. In addition, we are one of the few firms that can offer services in areas such as compliance, tax, employment, and competition law — vital for companies doing business in Turkey.
The BRSA previously published the Regulation on Disclosure of Client Information, which we analyzed in our legal alert dated 7 June 2021.
Turkey Finance and Banking
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Recent Developments

Article 73 of Banking Law No. 5411 ("Law") authorizes the Banking Regulatory and Supervisory Authority (BRSA) to determine the scope, form, procedures and principles regarding the sharing and transferring of client information. The BRSA previously published the Regulation on Disclosure of Client Information ("Regulation"), which we analyzed in our legal alert dated 7 June 2021. Accordingly, on 11 August 2022 the BRSA published the Circular on the Disclosure of Client Information No. 2022/1 ("Circular") to clarify the Regulation and to determine the procedures for the application processes stipulated in the Regulation. The Circular is available here in Turkish.

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