ARTICLE
5 September 2025

Amendment To The Communiqué On Licensing And Registration Of Those Operating In The Capital Markets

PB
Pekin Bayar Mizrahi

Contributor

Pekin Bayar Mizrahi is a leading top-tier law firm located in Istanbul, Türkiye.

The firm was founded by Mr. Fethi Pekin, who was a former judge, in 1946. Ms. Sefika Pekin and Ms. Selin Bayar subsequently joined the firm. In time, the firm has broadened its areas of expertise and the sectors it advises; thereby becoming a “full-service” firm with a global reach. In 2021, its dispute resolution partner, Mr. Ergin Mizrahi, became a name partner and the firm changed its corporate name as Pekin Bayar Mizrahi.

With its local and international experience of 75 years, Pekin Bayar Mizrahi is now one of the largest law firms in Türkiye in both size and volume, employing around 60 fee earners. The firm also has liaison offices and affiliate counsels in numerous cities in Türkiye. The firm has international practice and its clients include States, large financial institutions, and transnational corporations from various sectors.

With the Communiqué Amending the Communiqué on the Principles Regarding Licensing and Registration of Those Operating in the Capital Markets...
Turkey Finance and Banking

With the Communiqué Amending the Communiqué on the Principles Regarding Licensing and Registration of Those Operating in the Capital Markets (VII-128.7) (VII-128.7.ğ) (“Communiqué”), published by the Capital Markets Board of Turkey (“CMB”) in the Official Gazette No. 33000 dated 28 August 2025, additional regulations have been introduced concerning the licensing processes of people, employed as assistant personnel in investment firms. This amendment introduces a transitional period, valid until 31 January 2026, particularly for assistant personnel who have not yet obtained the required license.

According to the previous regulation, people who were permitted to work as assistants until 31 January 2025 may, under the new regulation, continue their duties until 31 January 2026. Two main conditions have been introduced for this purpose:

  • Participation, at least three times, in the trainings to be determined by the Capital Markets Licensing, Registry and Training Agency (“CML”) within the period of 31 January 2025 – 31 January 2026,
  • Taking the relevant licensing examination at least three times within the same period.

For those who successfully obtain the required license during this period, the additional training and examination requirement shall cease to apply.

In addition, people who complete their three-year assistant personnel service period after 31 January 2025, but have not yet obtained the required license, may also continue to serve as assistant personnel until 31 January 2026 at the latest.

The Communiqué entered into force on 28 August 2025, which is the date of its publication in the Official Gazette, and its provisions shall be executed by the CMB.

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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