The Capital Markets Board (“CMB”) of Turkey started the year with numerous developments. Vedat Akgiray, the president of the CMB, announced that the CMB will continue efforts to change capital markets legislation to ease public offering procedures, aiming to serve as an incentive for private companies to become public companies. Mr. Akgiray also stated that regulation of the FOREX market and new capital markets laws are planned for enactment before the end of 2010.