The EU Twinning Project

The EU Twinning Project "Assisting the Capital Markets Board of Turkey (CMB) to comply fully with European Union capital markets standards" commenced in the context of pre-accession assistance, with the support of the Federal Ministry of Finance of Germany, the Federal Financial Supervisory Authority (BaFin), and the Deutsche Bundesbank (Germany's Central Bank). The project launched in January 2006 and ceased in December 2007. The objective of the project is to complete the alignment of capital markets legislation with the EU acquis and its proper implementation. This will improve the availability of investment via capital markets and boost investor confidence. The project consists of several components, the most notable of which is the preparation of drafts of capital markets legislation in accordance with the EU acquis. Furthermore, the project includes important initiatives in several other areas such as training and administration. The CMB is confident that the EU Twinning Project will provide the Turkish capital markets an enormous advantage in complying with EU legislation and practices.