The Capital Markets practice team offers traditional and innovative services and specific transactional and regulatory advice on products and finance structures. Clients are all leading players in the sector.
The team handles the full range of transactions in capital markets field, including debt issuances (notes and bonds), derivatives, structured products and equities, approvals for product issuances with the Capital Markets Board (CMB) and the Banking Regulation and Supervision Agency (BRSA) and the Islamic finance. We also advise banks, investment firms, and public companies in regards to the investigations of the CMB and the BRSA.
The team has also expertise in first-of-a-kind regulated companies. The team provided the legal structure for and incorporated the first regulated companies in Türkiye such as;
- first BRSA representative office approval upon a Swiss Merger Act transfer,
- first guaranteed bond issuance,
- first asset management company,
- first bank incorporation after twelve years,
- first conversion of a foreign bank branch to a wholly owned subsidiary,
- first merger of a foreign bank branch with a foreign bank subsidiary,
- first registration of a foreign mutual fund with the CMB.
The team provides banks, investment firms, and public companies with highest quality advice in regards to their major regulatory issues which is an outcome of wide experience and highest level of government affairs capabilities.The team also advises on a range of non-traditional capital markets projects, such as obtaining regulatory approvals from the BRSA and the CMB in M&A where one party is a local bank/investment firm/publicly traded company via privatization/private sale, etc.
The team provides clients with legal assistance on a wide range of matters including but not limited to:
- Brokerage Operations and Investment Services
- Cryptoasset Products
- Debt Capital Markets
- Derivatives & Swaps
- Employee Share Plans
- Equity Capital Markets
- Equity, IPOs & Secondary Offerings
- Finance Sector M&As & Company Incorporations
- Financial Services and Markets
- Foreign Exchange Regulations
- Green Bond Issuances
- Investment Funds and Pension Funds
- ISDA Documentation
- Product Registration with the CMB
- Regulatory Investigations
- Regulatory Services
- Repo Transactions
- Securities Lending
- Structured Products
The derivatives practice is central to the expertise of the team. Advice is available on all types of derivatives including OTC derivatives, FX products, credit derivatives, equity derivatives, commodities and cryptoassets. As the exclusive local advisor to ISDA, the team provides annual netting and collateral opinions for Turkey, and is therefore heavily involved in drafting ISDA documentation, netting and collateral documentation, and advising on the marketing and regulatory aspects of derivative products. In addition, the team focuses on local derivative market regimes and advises clients on the principles related to Turkish derivative exchange rules, as well as drafting, negotiating and finalising derivative agreements with local counterparties.
The Regulatory practice team provides clients subjects to Capital Markets Board and Banking Regulatory Supervision Agency legislation on a range of issues:
- Compliance with the complex regulatory environment
- Structuring and filing public offerings in the Turkish market
- Offerings of Turkish companies in international and European markets
- Launching Turkish and foreign funds and the registration of the same with the CMB and all necessary follow-up procedures
- Commercial and investment banking, and investment advice
- Asset management brokerage and custody business
- Licensing and registration requirements
The team is also heavily involved in regulatory filings and cross-border direct and indirect M&As ad splits where one of the parties is a local bank or financial institutions.
The Scope of work generally extends to:
- Filing and preparing regulatory applications and notifications
- Obtaining the necessary permissions, approvals and concerns
The incorporation of financial institutions and banks is also within the scope or the Firm. Pekin & Pekin has incorporated many first-of-a-kind regulated companies, and has been retained to advise on the conversation and acquisition of nearly all Turkish brokerage companies.