Purchases from relatives' companies, holdings in competitors and related party transactions are typical examples. Annual declarations, abstaining from votes and approval mechanisms are the main safeguards, and the Turkish Commercial Code prohibits board members from participating in such deliberations.
Source: Kurumsal yönetim ilkeleri, TTK md. 393
Related terms
Related partyA person or entity that has a relationship of control, joint control or significant influence with the reporting entity.Corporate governance principlesPrinciples set by the CMB for listed companies concerning shareholders, public disclosure, stakeholders and the board of directors.Ethics hotlineA channel through which employees and third parties can report suspected irregularities, ethical breaches or fraud, confidentially or anonymously where needed.Anti-bribery and corruptionThe set of policies, controls and training designed to prevent the offering or acceptance of undue advantages to or from public officials or private sector employees.Application controlsAutomated or IT-dependent manual controls embedded in a software application that ensure transactions are processed completely, accurately and with authorisation.Business continuity planA plan to keep critical activities running at an acceptable level and return to normal within set timeframes after a disruption, disaster or cyber attack.
Last updated: November 8, 2026 · This definition is for general information only.