ARTICLE
11 March 2021

BRSA Now Authorized To Render Content Removal/Access Blocking Decisions

EA
Esin Attorney Partnership

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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 amendments to the Law No. 6361 on Financial Leasing, Factoring and Financing Companies ("Law No. 6361") entered into force by publication in the Official Gazette No. 31416 on March 7, 2021.
Turkey Finance and Banking

Recent Developments

The amendments to the Law No. 6361 on Financial Leasing, Factoring and Financing Companies ("Law No. 6361") entered into force by publication in the Official Gazette No. 31416 on March 7, 2021. Accordingly, the amendments authorized the Banking Regulatory and Supervisory Authority ("BRSA") to render access blocking/content removal decisions for unauthorized financial leasing, factoring and savings financing activities.

What's New? 

According to Article 46 of Law No. 6361, persons who
(i) carry out financial leasing, factoring, financing and savings financing activities, or
(ii) use statements or wordings that give the impression that they operate as a company in their tradenames, documents, announcements, advertisements or disclosures made to the public without obtaining the necessary authorizations under the Law No. 6361 are subject to criminal sanctions.

Further to the amendments, the BRSA is now authorized to render content removal and/or access blocking decisions for the foregoing non-compliances conducted on the internet. The BRSA's decision will be communicated to the Information and Communication Technologies Authority for implementation.

Conclusion

The BRSA was granted authorization to render content removal and/or access blocking decisions for the online publications of companies that do not have the necessary authorizations under the Law No. 6361 regarding financial leasing, factoring, financing and savings financing activities. The relevant companies should monitor how these access blocking decisions will be implemented in practice. 

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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