Recently, the Competition Board (the Board) had imposed administrative fines on banks and financial institutions for failing to respond to the request for information within the scope of a preliminary investigation. The request for information that lays the groundwork for the administrative fine imposed by the Board was related to the submission of correspondances on Bloomberg and Reuters platforms in a given time period, between the top 10 traders with the highest TL quoted transaction volume among whom were employed in the USA and the UK and made transactions in Turkish Lira.
In the appeal against the Board’s decision brought by the banks, the Ankara III. Administrative Court (the Court) annulled the Board’s decision finding that the principle of economic integrity specific to competition law could not be applied in terms of notifications that concern a procedural issue and that the notification should be made to the subsidiaries in Turkiye instead of the parent company abroad. Thereupon, the request made by the banks for the deletion of the correspondences of their traders submitted by them within the scope of the unlawfully notified request for information was rejected by the Board. The Board's assessments regarding the request to the return/deletion of the data submitted by the undertakings, which became controversial with the Court's annulment decision will be discussed in this article.
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