New corporate principles

Cem Davutoglu, cem.davutoglu@davutoglu.av.tr; Duygu TanIsIk, duygu.tanisik@davutoglu.av.tr. Davutoglu Attorneys at Law.

The Capital Markets Board of Turkey (CMB) issued a Communiqué[1] regarding determination and implementation of Corporate Governance Principles (CGP) on 30 December 2011 and issued an amendment communiqué[2] on 11 February 2012. While its predecessor made reference to the CGP issued by the CMB in 2003, the Communiqué introduces more extensive principles by incorporating these, in form of an exhibit, into its own text.