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The U.S. Foreign Corrupt Practices Act (“FCPA”) criminalizes the bribery of foreign officials anywhere in the world for the purposes of preventing corruptly influencing of an official governmental decision in order to obtain a business benefit.

Akol Law has advised Turkish candy producer Kervan Gida on the initial public offering of its shares and their listing on the Istanbul Stock Exchange. Akol Law also advised Oyak Yatirim, which acted as the broker on the deal. 

The Regulation on Processing and Privacy of Personal Data in Electronic Communications Sector (“Regulation”) has been published on the Official Gazette of December 4, 2020. The Regulation will enter into force within six (6) months following its publication date (i.e. June 4, 2020). The Regulation revokes the Regulation on Processing and Privacy of Personal Data in Electronic Communications Sector which was published on the Official Gazette of July 24, 2012.

On November 11, 2020, CEE Legal Matters reported that the Apak Uras Law Firm had advised Teknoser on its acquisition of 100% of the shares of Fujitsu Technology Solutions Bilisim from shareholders Fujitsu Technology Solutions GmbH and Fujitsu Technology Solutions Holding B.V. CEEIHM spoke with Doruk Ozdemir, Legal Counsel at Hitay Holdings, to learn more about the deal.

The economic effects of the Covid-19 pandemic continue to resonate in Turkey, says Cetinkaya Partner Altug Ozgun from Istanbul. Ozgun reports that Turkey’s economy has been “shaken because of the reduction in productivity during the lockdown.” In particular, he says, “tourism as a whole was impacted severely … affecting the overall economic condition.” 

In 2015 the Organization for Economic Cooperation and Development created 15 base erosion and profit shifting (BEPS) action plans to equip governments to address tax avoidance by means of domestic and international rules and instruments. The purpose of the action plans is to ensure that profits are taxed where economic activities generating the profits are performed and where value is created.

Istanbul's Durukan+Partners and Skadden Arps have advised LetterOne on the recent restructuring of Turkcell’s shareholding structure. Milbank and Turkey's Aksu Caliskan Beygo Attorney Partnership advised the Turkey Wealth Fund and Ziraat Bank, Sullivan & Cromwell and Herguner Bilgen Ozeke advised Telia Finland, and White & Case and the Kabine Law Firm advised Cukurova on the deal.

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