ERDEM-NEWSLETTER-2018-metin

216 NEWSLETTER 2018 The Scope of the Management Communiqué Both of the Communiqué s are applicable to Borsa Istanbul A.S., other market places organized with the stock exchanges and market operators, pension mutual funds, Istanbul Takas ve Saklama Bankasi A.S., Merkezi Kayit Kurulusu A.S., portfolio depository establish- ments, Sermaye Piyasasi Lisanslama Sicil ve Egitim Kurulusu A.S., capital markets organizations, publicly held companies, Capital Mar- kets Union of the Republic of Turkey, and the Appraisers Association of the Republic of Turkey. Banks and insurance companies, financial leasing, factoring and financing companies, from amongst the afore- mentioned institutions, establishments and associations would comply with the requirements of their specific legislation in respect of the management of the information systems. Compliance with such spe- cific legislations would be regarded as satisfaction of the requirements of the Communiqué s. Information Systems: Primary and Secondary Systems TheManagement Communiqué defines the primary systemas “ the complete system comprising of the infrastructure, hardware, software and data, ensuring to save and use the information required for the institutions, establishments and associations to perform their obliga - tions stated under the legislation, if and when required, and enabling the access to such information in a secure manner. ” It is set forth in the Management Communiqué that the secondary system means “ the primary system backups, which enable uninterrupted access to all information in the event of any interruption to the activities carried out by the primary systems, and if and when required for institutions, establishments and associations to perform their obligations stated under the legislation with an aim to keep the activities in a sustainable manner within the interrupted periods. ” In light of the above, the legislator defines the information sys- tems in a broad manner so as to include all information systems used for the performance of the activities within the scope of the Capital Markets Law, or as required by the CMB.