The last quarter of 2010 was very active for the capital markets. According to a new draft law, which includes various amendments regarding financial provisions, the headquarters of the Capital Markets Board (the “CMB”) will be moved from Ankara to Istanbul as part of the Istanbul International Financial Centre project. A new communiqué on foreign capital market instruments has been enacted, and the communiqué regarding public disclosures has been amended. Two draft communiqués have also been announced by the CMB regarding the establishment of short-term funds and funds supermarket.