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Article: Turkish law may spark talent hunt; Country may make risk management mandatory for public companies.(International News)
- Article from:
- Business Insurance
- Article date:
- October 27, 2008
- Author:
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: MICHAEL BRADFORD
ISTANBUL, Turkey-Risk management at publicly traded companies will become mandatory in Turkey if legislation is passed by the country's lawmakers.
This change could spark a search for talent in a market where such resources already are scarce, say local experts.
"Listed companies would have to have a risk management function, and this would be a direct obligation of the board,'' said Atin Yilmaz, managing director at Marsh Sigorta ve Reasurans Brokerliyi A.y. in Istanbul. The Grand National Assembly-Turkey's parliament-is expected to take action on the proposed law soon, he said.
Mr. Yilmaz said the change ...