The Israel Securities Authority imposed monetary fines in the amount of NIS 700,000 on three regulated entities and an investment project
The Israel Securities Authority imposed a fine of NIS 705,122 on three regulated entities and an investment project.
A monetary fine in the amount of NIS 576,000 was imposed on the trading arena Atrade Ltd. for two violations: failure to perform mandatory adjustments and controls, and failure to obtain a special report from the auditing accountant as required by law.
By imposing this monetary fine on Atrade, the ISA stresses the significance of the regulatory regime applicable to trading arenas, including compliance with all the obligations related to properly protecting clients’ money.
A monetary fine in the amount of NIS 94,958 was imposed on Capital Point Ltd for two violations of failure to disclose material evaluations in the Company’s periodic reports for the years 2016-2017.
By imposing this monetary fine on Capital Point, the ISA stresses the significance of proper reporting procedures, including compliance with mandatory reporting requirements.
A monetary fine in the amount of NIS 23,664 was imposed on Lehava Investment Portfolio Management Ltd for a violation of the duty of confidentiality toward a client and violation of the provisions of ISA under the Advising Law.
A monetary fine in the amount of NIS 10,500 was imposed on SDB, an investment project, for issuing a publication that constitutes an offer to the public to purchase securities without a prospectus.
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