Turkey: Corporate Governance

Turkey's Green Taxonomy Regulation establishes a comprehensive framework for classifying economic activities based on environmental sustainability criteria. How will this new regulatory system impact corporate reporting obligations, access to sustainable finance, and the role of financial institutions in Turkey's transition to a low-carbon economy?

Turkey's Capital Markets Board has lowered the disclosure threshold for shareholding changes in publicly traded companies from 5% to 3%, effective September 11, 2026. This regulatory update requires earlier public disclosure of ownership structure changes and introduces new transparency requirements for both direct and indirect shareholdings through the Central Registry Agency.

Abstract This article examines the legal transition from private ownership to a public offering and continuing listed-company regulation in Turkey.

13.08.2026 tarihli ve 2026/51 sayılı Sermaye Piyasası Kurulu (“Kurul”) Bülteni’nde, Kurul Karar Organı’nın 13.08.2026 tarihli ve 49/1489 sayılı kararı uyarınca yapılan duyuru (“Duyuru”) ve i-SPK 128.29 (13.08.2026 tarihli ve 49/1500 s.k.) sayılı İlke Kararı (“İlke Kararı”) yayımlanmıştır. Duyuru ile özel durum açıklamalarının İngilizce yayımlanması yükümlülüğünün kapsamı genişletilmiş; İlke Kararı ile sürdürülebilir finans araçlarına ilişkin mevcut düzenleme iki ayrı rehber altında yenilenerek sosyal ve sürdürülebilirlik bağlantılı sermaye piyasası araçları düzenleme kapsamına alınmıştır.

In the Bulletin of the Capital Markets Board (the “Board”) dated 13 August 2026 and numbered 2026/51, the announcement (the “Announcement”) made pursuant to the decision of the Board’s Decision-Making Body dated 13 August 2026 and numbered 49/1489, and Principle Decision i-SPK 128.29 (decision dated 13 August 2026 and numbered 49/1500) (the “Principle Decision”) have been published.

Corporate fraud cases can rapidly escalate from financial losses to board-level governance crises, regulatory sanctions, and severe reputational damage. The Association of Certified Fraud Examiners' 2026 report reveals that organizations worldwide lose approximately 5% of annual revenue to fraud, with Turkey-based cases showing median losses of $170,000—significantly above the global average. How can legal and compliance teams detect irregularities, preserve evidence, and address control weaknesses be

Turkey's Constitutional Court has struck down provisions requiring general assembly approval for expulsion lawsuits in two-partner limited companies, fundamentally altering how partnership disputes can be resolved when one partner systematically obstructs company operations. The ruling addresses a critical deadlock where the partner facing expulsion could block the very vote needed to initiate legal proceedings, effectively preventing judicial review of legitimate grievances.

Joint ventures are never formed with the expectation of problems and failure. That kind of mentality would go against both the spirit of a joint venture and the realities of commercial life. In the early stages, the parties usually share a common, commercial goal, built on a foundation of trust. However, while joint ventures typically begin with high expectations, their long-term success depends less on optimism and but more on how well they are structured from a legal and organizational perspective.

Radical steps have long been taken in the Turkish commercial landscape to increase transparency, reduce bureaucratic hurdles, and integrate digital transformation with corporate governance principles. The Turkish Commercial Code No. 6102 (TCC) historically regulated the maintenance, notary certification, and retention of corporate books within a traditional, physical framework.