TCMA Annual Report 2021 28 INITIATIVES TCMA Public Offering Principles Update A working group, formed of our willing member representatives from amongst the participants of Brokerage Firms Professional Committee under our Association and Borsa İstanbul officials, carried out a study to update the “TCMA Public Offering Principles” published in 2013 with the Association’s Circular no. 13 so as to reflect the current conditions and regulatory changes. With the aim of contributing to successful completion of issues and sales by structuring public offering processes, protection of investors’ rights, and operation of markets amid a setting of trust and stability, the updated draft “TCMA Guidelines for Public Offering (Equity Issue) Intermediation Principles” were submitted to the Capital Markets Board of Türkiye (CMB) for its approval. Opinions and Suggestions Regarding Public Offering Processes Within the scope of the Economic Reforms announced by the Presidency of the Republic of Türkiye and its action plans published by the Republic of Türkiye Ministry of Treasury and Finance, the Capital Markets Board of Türkiye (CMB) requested our opinions regarding improvement areas in current practices and in the legislation, potential changes and suggested activities with the aim of facilitating and encouraging public offering processes of companies with purpose of strengthening the capital market. We have conveyed to the CMB our opinions and suggestions for facilitation and encouragement of public offering processes that would affect the growth of capital markets under the current conditions where equity public offerings intensified and investor interest increased. Draft Guidelines on Principles and Procedures for Informing Customers on Commissions, Fees and Charges A study was carried out for our members to post on their websites the current maximum amounts and rates of commissions, fees and charges to be charged to their customers in table format with its minimum content and model determined in a clear and understandable manner that can allow customers to do their own calculations, and for setting the principles and procedures to be followed when informing customers. The resulting “Draft Guidelines on Principles and Procedures for Informing Customers on Commissions, Fees and Charges” were submitted to the Capital Markets Board of Türkiye (CMB) for its approval.
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