The Capital Markets Board ("CMB") announced that the electronic application system ("E-Application") was ready to be used by the applicants1. Subsequently, the CMB published a user guide on February 5, 2024, for institutions, organizations, and partnerships to use the E-Application. The CMB also provided important details pertaining to submissions via the E-Application in the CMB bulletin dated March 28, 2024 ("Bulletin").
According to the Bulletin, issuers, institutions, organizations, and partnerships registered under MERSİS (central registration system) will apply to the CMB electronically via E-Application as of April 15, 2024. On the other hand, pursuant to the CMB's Public Disclosure Platform Communiqué No. VII-128.6 ("Communiqué"), if existing circumstances prevent electronic application and such circumstances are listed in the Communiqué, the relevant applicants can submit physical applications to the CMB with wet signatures.
The CMB also published the application procedure and the important considerations regarding the application in the Bulletin. Pursuant to the CMB's Bulletin, the E-Application can be accessed via the E-Government platform. Additionally, users can (i) save their applications any time before submitting them to the CMB, and then they can continue their application via saved application feature, (ii) can review the CMB's requests, and (iii) can send information and documents requested by the CMB during the application process.
The CMB is not only introducing a fast and digital application system but also an environmentally friendly one, as it reduces paper wastes and courier expenses.
Footnote
1. For detailed information, please see our article at https://www.kecolegal.com/en/post/beginning-of-digital-era-in-cmb-applications
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