Capital Markets Board (“CMB”), is embarking on a digital era in its application procedures, aiming to shorten the processing time for applications with the “Electronic Application System (“e-Application”)” project, which is now ready for use. Starting from October 2, 2023, portfolio management companies and investment trusts will be able to submit their applications to the CMB electronically through the e-Application platform.
According to the CMB's announcement, starting from January 2024, all institutions, organizations, and partnerships subject to the CMB's regulations will begin submitting all their applications electronically. In cases where there is a need for additional documents, supplementary materials, or other documentation related to the application, CMB experts will be able to request these documents electronically, thus allowing for the entire application process to be tracked in digital media.
CMB's new e-Application system represents a significant step in the digitalization of capital markets and will herald upcoming changes in the near future.
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