Aggregated News From Investment Management Regulators

Israel

The outline of the ISA trust funds reform is launched

תוכן דף The funds managers have adopted the outline for reduction of the number of similar trust funds simultaneously, the investment advisors will be required to give weight to appraising long term performances of trust funds for no less than three years as part of the considerations in the process of matching the most appropriate fund for the investor. The Chairwoman of the Israel Securities Authority, Anat Guetta: "Trust funds are a distinct public investment product and one of the most commonplace investment tools among the public. Today we are announcing a reform which will simplify the procedure of making an...

The Israel Securities Authority defines the principles and terms for the issue of a SPAC in Israel

תוכן דף Ms. Anat Guetta, Chairwoman of the Israel Securities Authority: "The terms and principles formulated by the ISA are intended to align the interests of the entrepreneur and the investors, in order to strengthen the mechanisms for protecting investors. We stress that the ISA continues to monitor the lively activity and developments in the market, and we will act to update the investor protection mechanisms, wherever and whenever necessary."  In recent months, several companies have submitted requests to the ISA to publish a prospectus of a SPAC – Special Purpose Acquisition Company. According to this model, the SPAC issues shares...

Remarks by Anat Guetta, Chairwoman of the Israel Securities Authority, at the 10th Conference on Administrative Enforcement

תוכן דף Remarks by Anat Guetta, Chairwoman of the Israel Securities Authority, at the 10th Conference on Administrative Enforcement of the Heth Academic Center for Research of Competition and Regulation, the College of Management Good afternoon to all of the participants who honor us with their presence at this Conference. As you are aware, the role of the Israel Securities Authority is to protect the interests of the investing public. Protecting the interests of the investing public is expressed in all of the activities led by the ISA - regulation, of existing areas of activity as well as new activities in the capital...

ISA Chairwoman Appoints Two Committees on Digital Asset Trading and Clearing Settlement Platforms and Supervised Investments in Digital Assets

- The Digital Asset Committee will develop policy on supervised investments that include digital assets - The Digital Markets Committee will clearing and settlement platforms for digital markets The area of digital assets has gained significant momentum in recent years, reflected in the development of digital assets and trading platforms for these assets, and in the development of investment products that offer exposure to these assets. Therefore, ISA Chairwomen, Anat Guetta, appointed two committees to study the developments that occurred in the sphere of digital assets and their effects on the ISA's main areas of focus (infrastructure, supply,...

ISA Chairwoman Anat Guetta Appoints Inbal Polak as Director of the ISA’s Investment Department

תוכן דף The Hiring Committee, headed by ISA Chairwoman Anat Guetta, selected Mrs. Inbal Polak for the position of Director of the Investment Department of the ISA. Mrs. Inbal Polak brings more than 20 years of experience in the capital market, including experience from leading international firms. She worked with financial regulators in Israel and has deep understanding of regulation and compliance issues. Over the years, Mrs. Polak established and managed a range of organizational units in the field of investment management, analysis of financial funds, the development of new investment instruments, fund rating and marketing. In her first position in the...

Update for the public with respect to the investigation regarding Michael Ben-Ari and EFGE Israel

תוכן דף The Israel Securities Authority (ISA) has recently opened a criminal investigation regarding Michael Ben-Ari and EGFE Israel, on suspicion of violating the Israeli Joint Investment Trust Law, Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, the Penal law and the Prohibition on Money laundering Law. This is a large scale Ponzi scheme that was uncovered by the ISA.  As part of this investigation, Ben-Ari spent time under house arrest, and after that the Tel Aviv Magistrate Court ordered that he will be put under restrictive conditions, including a ban on him leaving the country, depositing his passports...

Update for the public with respect to the opening of a criminal investigation regarding Michael Ben-Ari and EFGE Israel

תוכן דף Following numerous inquiries from investors, the Israel Securities Authority (ISA) wish to update the public that it has recently opened a criminal investigation regarding Michael Ben-Ari and EGFE Israel, on suspicion of violating the Israeli Joint Investment Trust Law, Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, the Penal law and the Prohibition on Money laundering Law. As part of this investigation, Ben-Ari was released by the Tel Aviv Magistrate Court under restrictive conditions. The ISA works tirelessly to protect the investing public interests, and to uncover the truth as quickly as possible. According to law, the ISA...

The comment of Adv. Eyal Offir, Director of the International Affairs and Business Development Department at the Israel Securities Authority, on the dual listing...

תוכן דף The following is the comment of Adv. Eyal Offir, Director of the International Affairs and Business Development Department at the Israel Securities Authority, on the dual listing of the first ETF of Lyxor on the Tel Aviv Stock Exchange: “We congratulate Lyxor, the first ETF under the management of the European Fund Manager, on its registration for trade on the Tel Aviv Stock Exchange under the Dual Listing Arrangement. Connecting the Israeli capital market to the global capital market is a strategic goal of the ISA. The Dual Listing Arrangement is a key mechanism for implementing this strategy. Therefore it has...

The Israel Securities Authority is extending the dual-listing arrangement for ETFs to additional stock exchanges around the world

תוכן דף The Israel Securities Authority (ISA) is extending the dual-listing arrangement for Exchange Traded Funds (ETFs) to additional leading stock exchanges around the world. Extending this arrangement is a major part of the ISA market developing efforts to open Israel's capital market to leading international participants and to diversify the investment instruments available to the private investors in Israel. Today, the ISA issued a call for public comments on expanding the list of exchanges to be included in the dual-listing arrangement for ETFs. The ISA intends to define a separate list of global stock exchanges whose traded ETFs may also...

ADGM FSRA and Israel Securities Authority sign landmark Innovation and FinTech MOU

תוכן דף Abu Dhabi, UAE, 18 November 2020 – The Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA) and the Israel Securities Authority (ISA) have entered into an Innovation and FinTech cooperation MOU, marking an important step in promoting a collaborative regional environment for FinTech to thrive in. Besides providing a framework to facilitate information sharing, it seeks to achieve greater connectivity and market access for start-ups, talent and investment between the two jurisdictions. With this new partnership, the ADGM FSRA and the ISA will undertake initiatives to promote economic growth in financial services by adopting new technology and strengthening...

The Israeli Securities Authority and the Hong-Kong Securities and Futures Commission signed today an MoU for collaboration on FinTech issues

תוכן דף 11.17.2020 The Israeli Securities Authority ("ISA") and the Hong-Kong Securities and Futures Commission ("SFC") signed today an MoU for collaboration on FinTech issues. The MoU establishes the principles of cooperation and information sharing, with the aim of promoting and cultivating innovation in the financial service sector. This will enable the SFC and the ISA to exchange information on innovation and FinTech trends in their respective markets. The two regulators intend to support innovative companies in their international development, by helping them to better understand the regulations in each of the two countries and the statutes essential to carry out their...

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