Turkey:
Circular On Bank Client Confidentiality Regulation Published (Podcast)
13 February 2023
Esin Attorney Partnership
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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.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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To The Point: Financial Regulation | 03/2024
Schoenherr Attorneys at Law
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