Published Circular Regarding Amendments to (VII-128.7)
Communication on the Principles Regarding Licensing and Registration for Those Operating in the Capital Markets (VII-128.7)" ("Communication")[1] , significant changes have been made to Provisional Article 10. This regulation, as it stands, contains new provisions regarding the employment status of support staff working at investment institutions and undergoing the licensing process.
Pursuant to the amendment, the period during which personnel who, under the previous regulation, could work in an auxiliary capacity until January 31, 2025, at the latest, has been extended until January 31, 2026. However, this extension is subject to certain obligations being fulfilled. In this context, it is mandatory to complete at least three training programs with content to be determined by the Capital Markets Licensing Registry and Education Institution Inc. ("SPL") during the period from January 31, 2025, to January 31, 2026, and to participate in the licensing exam required for the position at least three times.
Furthermore, within the scope of the obligations set forth in the Communiqué, at least one of the training programs or exams must be completed by June 30, 2025. For assistant personnel who become eligible for a license within the relevant time periods, these training and exam obligations will automatically cease to apply.
Furthermore, personnel who have completed three years of service in an assistant capacity at investment institutions after January 31, 2025, but who have not yet acquired the necessary license as of the effective date of the Communiqué, may continue to serve in an assistant capacity until January 31, 2026, at the latest.
Finally, the aforementioned Circular entered into force on August 28, 2025, and the provisions regarding its implementation will be enforced by the Capital Markets Board.