TSPB ANNUAL REPORT 2019

22 TCMA 2019 ANNUAL REPORT INITIATIVES Changes to the Regulatory Framework To develop the capital markets; • We have tried to simplify the legislation, • We have worked to determine the execution complications encountered in line with the Capital Markets Law and Ancillary regulations in-force and have provided clarification towards the problematic issues, • A study was initiated in 2018, regarding innovations that can be put into practice for the development of capital markets, concerning the Capital Markets Law and the necessary legislative amendments to be effected in the current Ancillary regulations in-force. The member opinions and recommendations regarding the entire content of the capital markets legislation were compiled under task forces to be referenced to. In line with the opinions and suggestions of our members, 4 different task forces were conducted based on their area of implementation: 1. Intermediary Activities Legislation, 2. Companies’ Financing Legislation, 3. Institutional Investors Legislation, 4. Other Legislation Within the scope of capital markets development under the co-ordination of our Association and with the participation of representatives of non-governmental organizations, capital market institutions, and public companies, the assessment for the improvement and updating of capital markets legislation has been completed, pursuing the balance between investors and issuers. The studies were carried out from December 2018 to April 2019 with the active participation of 67 members from 45 different institutions. The results were submitted to the Capital Markets Board of Turkey on 12 April 2019 to be evaluated in detail at the workshop held on the subject. Promotion Campaigns Under the Capital Markets Board of Turkey (CMB) regulations, promotion campaigns to be carried out by the intermediary institutions and banks for capital markets activities are notified to our Association in writing before the implementation to be approved. Regarding the promotion campaigns in 2019, 45 member applications were examined and evaluation results were reported to the related authorities. OUR INNOVATIVE EFFORTS AIMED AT DEVELOPING AND STRENGTHENING OUR SECTOR CONTINUED, IN 2019.