Changes regarding portfolio management companies and their activities

The circular regarding the amendments to be made regarding portfolio management companies and the activities of these companies was published in the Official Gazette. An amendment was made to the seventh paragraph of the 20th article of the circular regarding the principles regarding portfolio management companies and the activities of these companies. The circular regarding the amendments to be made regarding portfolio management companies and the activities of these companies was published in the Official Gazette. The statement reads, “If portfolio managers and fund service units are established within the Company, the fund manager shall be employed by the Company full-time and exclusively to perform these duties. Other specialized personnel assigned to the units that need to be established within the Company within the framework of the provisions of this Communiqué shall also be employed full-time and exclusively for the relevant duty, subject to the conditions specified in this Communiqué. Within the framework of the Board regulations regarding licensing, personnel working as assistants to the portfolio manager must have a Capital Market Activities Level 1 License. A maximum of three years can be worked as an assistant portfolio manager. If the licenses sought in the Board regulations for portfolio management are obtained, this period may be extended up to five years.” The article, “Companies that have obtained an investment consultancy activity authorization certificate as of the date of entry into force of this paragraph and where a research specialist is assigned as an investment consultant must comply with the seventh paragraph of Article 20 of this Communiqué by 30/6/2024 at the latest” has been added to the regulation.