ERDEM-NEWSLETTER-2018-metin

215 CAPITAL MARKETS LAW Management of Information Systems* Att. Nezihe Boran Demir Introduction As stated under Article 128 of Capital Markets Law No. 6362 1 (“Capital Markets Law”), one of the duties of the Capital Markets Board (“CMB”), among others, is to determine the procedures and principles for the supervision and operation of the management of the information systems of capital markets institutions, publicly held companies, stock exchanges and self-regulatory establishments. To this end, based on the provisions of the Capital Markets Law, Com- muniqué on the Management of the Information Systems (VII-128.9) (“Management Communiqué”), together with the Communiqué on the Independent Auditing of Information Systems (III-62.2) (“Auditing Communiqué,” Management Communiqué, and the Auditing Com- muniqué, shall collectively be referred to as the “Communiqués”) have been published in the Official Gazette dated 5 January 2018 and numbered 30292 . Both the Management Communiqué and the Audit - ing Communiqué have entered into force with their publication in the Official Gazette. While the procedures and principals applicable to the management of the information systems for the listed establish - ments therein are determined under the Management Communiqué , independent auditing of information systems is further regulated under the Auditing Communiqué. This article will mainly focus on the scope of the Management Communiqué, innovations introduced thereunder, especially the obligation to keep the systems in the Republic of Turkey and, finally, the sanctions . * Article of March 2018 1 Capital Market Law No. 6362, OG, 30.12.2012, No. 28513.