NEWSLETTER-2019-metin

193 CAPITAL MARKETS LAW announcement period for the financial reporting is seventy days fol- lowing the end of the financial year. For those companies that announce solo statements, the announcement date for the financial reporting is sixty days following the end of the financial year. The Compliance Report and the Information Form are to be an- nounced together with the board of directors’ resolution, whereby the board of directors resolves to approve the content of the Compliance Report and the Information Form, and decides to make public disclo- sure, accordingly. The audit committee or the member of the board of directors must further issue a responsibility statement, under which it is to be stated that the templates have been reviewed, and that they incorporate true and complete information. A further decision is to be obtained by the corporate governance committee resolving that the in- vestigation of the Compliance Report and the Information Form have been monitored and completed by it. Finally, a clear link to the Compliance Report and the Information Form should be inserted into the compliance statement that is attached to the activity report. Since 2019 is the initial year for this application, the Board has decided to proceed with two alternatives. On the one hand, the com- panies will comply with the new procedure, and will use the recently introduced templates for corporate governance compliance reporting. On the other hand, the companies are allowed to proceed with the previous application for the compliance reporting, but in any event, the new reporting templates should be completed and announced, at the latest, within the period for the financial reporting. If any change occurs on the disclosed corporate governance com- pliance between the two notification periods, then the companies are to make an announcement concerning the respective update. Conclusion Although the templates require public disclosure of corporate governance compliance, making it appear to be a new practice, only a procedural change has been made, in actuality. The Board has an- nounced its decision, whereby it has resolved that the corporate gov-