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This legal alert aims to set out the terms of General Letter No. 808 released by Central Registry Agency in Turkey on December 12, 2017 regarding “SWIFT Balance Notification” to be disclosed to foreign custodians.
On December 7, 2017, we have released our legal alert “Recent Amendment Enabling Foreign Custodians Receive Statement of Holdings of Their Clients Registered At Central Registry Agency in Turkey” (our Legal Alert of December 7, 2017 can be accessed from here), concerning the amendment adopted by Capital Markets Board of Turkey on the Communiqué on Principles Regarding Record Keeping of Dematerialized Capital Markets Instruments numbered II-13.1 wherein foreign custodians are enabled to receive statement of holdings of their clients from Central Registry Agency (“Merkezi Kayıt Kuruluşu” or “MKK”) in Turkey.
Following this legislation amendment, MKK has published the General Letter No. 808 dated December 12, 2017 on “SWIFT Balance Notification” and set out the terms as follows: