TAIEX seminar on “European Legislation on Reinsurance and Insurance Groups” will be held on 8 February in Istanbul

One-day seminar on “European Legislation on Reinsurance and Insurance Groups” organized in  cooperation with Association and TAIEX (Technical Assistance and Information Exchange Unit of DG Enlargement) will be held on 8 February 2008 at Best Western Eresin Taxim Hotel in Istanbul. The seminar will host 130 participants registered from insurance and reinsurance companies, public authorities and universities

During the seminar, Directive 2005/68/EC on reinsurance and Directive 1998/78/EC on supplementary supervision of insurance undertakings in an insurance group will be discussed in detail. 
 

Regulation on the Measurement and Evaluation of the Capital Requirements of Insurance and Private Pension Companies is published

Regulation on the Measurement and Evaluation of the Capital Requirements of Insurance and Private Pension Companies is published on 19 January 2008 in the Turkish Official Gazette No: 26761 and entered into force. 
 

Regulation on Measures for Prevention of Laundering Proceeds of Crime and Financement of Terrorism is published

Regulation on Measures for Prevention of Laundering Proceeds of Crime and Financement of Terrorism is published on 9 January 2008 in the Turkish Official Gazette No: 26751. The Regulation is expected to enter into force on 1 April 2008.
 

The Association participated to the Seminar on “The Effects of New Corporate Tax Law”

On 15 January 2008, the Association participated to the Seminar on “The Effects of the New Corporate Tax Law” held by TUSIAD (Turkish Industrialists’ and Businessmen’s Association).

During the seminar, the legislation on controlled foreign corporation, transactions regarding sale or purchase of goods and services with related parties (transfer pricing) and the arm’s length principle have been discussed in detail. 
 

The Association participated to the Turkish Grand National Assembly Justice Commission Meeting

On 23 January 2008, the Turkish Grand National Assembly Justice Commission held a meeting on “Draft Law on Enforcement and Implementation of Turkish Commercial Code”. The Association was represented at the meeting by Legal Counsel Tolga Ceylantepe.

During the meeting, the draft law was evaluated in general and a sub-commission appointed for the preparation of a detailed report. The Justice Commission will complete its work in February. In the coming months, the draft law is expected to be on the agenda of the General Assembly besides Turkish Commercial Code. 
 

The Association participated to the Seminar on “Agenda 2008 for Turkey-EU Membership Negotiations”

On 25 January 2008, the Association participated to the Seminar on “Agenda 2008 on Turkey-EU Membership Negotiations” held by IKV (Economic Development Foundation).

During the seminar, speakers presented their opinions and concerns on the current situation in EU-Turkey relations, the slow-down in the pace of reforms and steps to be taken during the accession negotiations. 
 

The Association published a booklet on the European Union Solvency II Project

The Association published “The European Union Solvency II Project” booklet as an attempt to inform the sector about “Solvency II” within the context of the harmonization process of Turkish insurance sector with the EU acquis.

The booklet, written by Mr. Onur Acar, Fiscal and Financial Affairs Specialist, covers details about the three pillar system of Solvency II, its aim, its benefits for insurers, consumers and the whole economy and its implications on European and Turkish insurance sectors in a question-answer format.

The European Union Solvency II Project booklet was dispatched to all member companies as well as any other parties operating in the sector. The booklet will also be accessible through the Association’s website.