TCMA 2020 ANNUAL REPORT

REGULATORY FRAMEWORK Amendment to Circular Regarding Engagement in the Rating and Ranking Activities of Collective Investment Schemes Circular no. 43 communicated the amendments to the Circular to our members. Accordingly, the listing fee and the annual fee for remaining in the list will not be charged until further announcement by the Association, with the purpose of informing the investors about risks and returns fully and accurately and of supporting the growth of the market within a fair competitive environment within the context of the proliferation and increased recognition of rating and ranking activity. Draft Amendments to the Communiqué on Principles regarding Venture Capital Mutual Funds and the Communiqué on Financial Reporting Principles of Mutual Funds The Association submitted to Capital Markets Board of Turkey (CMB) its feedbacks and suggestions prepared based on the opinions and suggestions of our members and in line with the needs and demands of the sector in relation to the draft amendments to; • The Communiqué on Principles Regarding Venture Capital Mutual Funds • The Communiqué on Financial Reporting Principles of Mutual Funds drafted by the CMB. Working together with representatives from the capital market institutions, non- governmental organizations and publicly-held companies, we carried out comprehensive studies to improve the capital market legislation. TCMA 2020 ANNUAL REPORT 31