Capital Markets Board of Turkey ("CMB" or "Board") decided to end the ban on short sales transactions taking place in the BIST-50 Index equity market of Istanbul Stock Exchange ("BIST").
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The Financial Conduct Authority (FCA) has recently
reiterated that 2021 is the critical year for firms to
complete their transition away from
LIBOR .
1
LIBOR).
In this article, we discuss the current state of play and the
measures governments and institutions are taking to aid this
transition, including the development of overnight risk-free rates
(
RFRs), recommended transition milestones and
proposed legislative reform.
Development of RFRs
The European Central Bank commenced publishing the Euro Short
Term Rate on 2 October 2019, and since then RFRs for all LIBOR
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The Investment Funds Act 2006 (IFA) has been amended by the
Investment Funds Amendment Act 2021 (Amendment Act 2021), which
became operative on 27 January 2021 (Operative Date).
The Amendment Act 2021 introduces, amongst other things,
requirements for registered funds to ensure consistency across the
different classes of funds. Notably there are: provisions targeted
at Private Funds; a requirement to appoint a local registrar for
registered funds; amendments to filing requirements for all
registered funds and overseas funds; and a widening of the
definition of company fund to include incorporated
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Members of the BI Board of Governors Regulation No.
22/33/PADG/2020 dated December 1, 2020, regarding the
Third Amendment of Members of the BI Board of Governors Regulation
No. 20/15/PADG/2018 regarding the Organization of Immediate Fund
Settlement Through BI s System - Real Time Gross Settlement
(
RTGS ). This Regulation amends
policies on fee determination and the evaluation of the arrangement
of priority numbers for the settlement of automatic funds through
BI-RTGS. It came into effect on the date of its enactment.
COMMUNICATION AND INFORMATICS
Minister of Communication and Informatics Regulation No.