law consultancy office
t&p hukuk danışmanlık bürosu | tüketici hukuku danışmanlığı

tokbaş & partners

consumer law in stock and capital market sector

Stock and Capital Market Sector is sector which has recently started to be discussed in terms of consumer law and will remain highly controversial over the next periods. In order to seek elements of consumer law within the capital market law the first requirement is to have knowledge about the basic logic of capital market law and then to have command of the dynamics of consumer law.

 

Looking at the history of capital market law we see that this branch of law started to develop primarily in the UK but then the US took the lead in this field. In the US the power to regulate was first given to states and then it was rendered at a federal level as per two codes introduced by the federal government in 1933 and 1934, and the second code resulted in the establishment of SEC (Securities and Exchange Commission). The development of capital market was essentially undertaken by SEC. US Supreme Court and US Court of Appeals also contributed to the theory and implementation of the capital market law. The US law is taken as an example in our country to improve the capital market law which is a branch of law covering issues regulated under Capital Market Law. In general terms it can be regarded as the sub-branch of Commercial Law. Publicly traded companies, stock exchanges, brokerage houses, investment fund, real estate value assessment, housing financing system, retirement funds and a wide range of other issues can be addressed as part of capital market law.

 

However, we think of the issues started to be discussed under the leadership of a small group including tokbaş & partners about whether small stock holders will be regarded as investors or consumers, or those who are engaged in trading at the virtual stock exchange platform forex and other similar markets can be consumers or not as well as issues such as transactions made or agreements established with housing financing organizations outside the banking sector and investment funds undertaken in a way not to serve business purposes, as containing the elements of consumer law rather than commercial law.

 

tokbaş & partners provides consumer law service to publicly traded companies, capital market intermediary institutions and other companies and persons operating in the capital market industry thanks to its command of consumer law in stock and capital market industry. These services are detailed individually for companies and persons. We also defined individual subcategories for our services for companies, namely  “protective/preventive advocacy, process consultancy and official attorneyship”. Services offered by tokbaş & partners in this area can be detailed as follows: 

Protective / Preventive Advocacy Services:

 

1.       Conduct trainings for company managers and relevant personnel on "consumer law and practices in stock and capital market sector"

2.      Organize consumer law training for company branches and provide personnel training across Turkey

3.      Draft capital market agreements subject to the field of Consumer Law as per the legislation and practices

4.      Draft capital market documentation used in consumer transactions as per the legislation and practices

5.      Provide opinions and create legal reports on new capital market practices

6.      Ensure legal control of trade advertisements and announcements prior to publication as per consumer and advertisement legislation as well as administrative practices

7.      Ensure legal control of commercial practices under the scope of  the provisions relating to "unfair commercial practices"

8.      Due diligence

9.      Ensure compliance check of open joint stock companies against consumer law legislation

10.   Legislation review and weekly legislation report on the stock and capital market sector

11.    Review the decisions of administrative and regulatory committee; weekly report on the decisions of administrative and regulatory committee related to stock and capital market sector

 

 

 

Process Consultancy Services:

 

1.       Monitor Capital Market agreements and express opinions on contractual discrepancies

2.      Monitor stock and capital market practices and other documents and express opinion on the discrepancies resulting therefrom

3.      Express opinion on discrepancies relating to trade advertisements and announcements

4.      Express opinion on the resolution of issues encountered in consumer law legislation

5.      Give response to requests for verbal and written legal opinion

6.      Take initiatives and express opinion required for resolution of differences in interpretation or problems resulting from consumer law between relevant administrative bodies and the company

7.      Provide mediation-reconciliation services between the company and consumers

8.      Establish and maintain a consumer compliant hotline

9.      Create templates for pleas to be written to Consumer Courts and Consumer Arbitration Boards considering different problems and possibilities

10.   Control and compliance check for the pleas written to the attention of Consumer Courts and Consumer Arbitration Boards

11.    Control and compliance check for the pleas to be written and documents to be submitted about consumer law to administrative bodies

12.   Management of the process of inspector audit by the Ministry of Customs and Trade

 

 

Official Attorneyship Services:

 

1.       Ensure representation of the company and follow-up of its files at Consumer Arbitration Boards

2.      Ensure representation of the company and follow-up of its files at Consumer Courts

3.      Ensure representation of the company and follow-up of its files at administrative bodies

4.      Actions for nullity for administrative fines imposed as part of  TKHK

5.      Follow-up of company's debts and receivables

 

 

 

 

1.       Follow-up of lawsuits arising from stock agreements

2.      Follow-up of lawsuits arising from transactions entered with housing financing institutions

3.      Follow-up of lawsuits arising from leasing agreements

4.      Follow-up of lawsuits arising from transactions performed in forex and similar markets

5.      Lawsuits arising from transactions entered with real estate value assessment companies

6.      Lawsuits arising from investment fund transactions

7.      Lawsuits for monetary and spiritual damages arising from stock and capital market transactions

8.      Follow-up of debts and receivables to and from capital market institutions

9.      Claims for damages arising from acts in breach of competition law in the stock and capital market sectors

10.   Claims for damages arising from manipulative ads and unfair commercial practices in the  stock and capital market sector

for companies :

for persons :