269:
32:
260:'s Kela Fund, and a boom in unregulated activity due to harsh regulation on the one hand and the low interest rate on the other, the ISA has taken steps to prevent unregulated offerings to the public. These including warning the public of risks and prohibiting publication of financial details, including expected return, on any unregulated investment without issuing a prospectus.
239:
In 2016, Binary options were prohibited from being offered locally to
Israelis, and the ISA has submitted a draft law seeking a blanket binary options ban to offerings to all investors, the legislation is required as the ISA doesn't currently have jurisdiction over offerings outside of Israel. In
130:
of Israel. Established by law in 1968, the Israel
Securities Authority sees its mandate as a way to ensure an efficient capital market based on transparency and fairness. The ISA works to fight against securities fraud, insider trading, questionable accounting practices and other activities which
268:
233:, expressed dismay at the binary options scandal which he called repugnant, describing the industry as one which โuses immoral methods to entice innocent victimsโ. He appealed for the ISA to close it down 'with all its power'.
197:โs directives and rules, and amendments to them. In addition, the authority is engaged in the supervision of trade on the exchange, and in addressing inquiries by the public pertaining to the exchangeโs operations.
557:
240:
October 2017, the law was passed by the
Knesset to forbid offering of binary options trading services to foreign customers. In January 2018, the parliamentary decision has been upheld in the
162:
passed the
Securities Law, which officially established the Israel Securities Authority, which became the modern regulatory framework for the Tel Aviv Stock Exchange and its operations.
647:
438:
680:
158:(TASE). Ten years later, a group of members of the Exchange created the TASE Clearing House. The Clearing House also acted as the central security depository in Israel. In 1968, the
587:
527:
497:
304:
Director of the
Securities Department of the Israel Securities Authority in the Tel Aviv District Attorney's office (taxation and economy) - Mrs. Judith Tirosh-Gross, Adv.
467:
337:
205:
Reports from Israel and overseas have expressed concern that despite repeated calls, the ISA has not taken robust action over multimillion-dollar activity in
209:, which are reported to be often fraudulent. Canada and Australia have warned of 11 such binary trading firms, most if not all of which are Israel-based.
617:
223:
According to the same source, there is widespread expectation within the binary trading industry that the ISA will take firm action to regulate them.
213:
He said the goal is to make them lose as much money as possible. He tried to justify it by saying that people are dumb and this is what they want. -
895:
639:
428:
672:
579:
170:
The ISA closely models its practices on the basic principles established by US securities laws. These laws took shape in the wake of the
751:
489:
905:
702:
549:
890:
236:
The chair of the ISA, Professor Shmuel Hauser, also expressed his shame and disgust at the frauds and says they are working on it.
357:
880:
519:
459:
181:
Israel's sole exchange is the Tel Aviv Stock
Exchange. The authority reviews proposals to amend the stock exchanges'
143:
was established in 1948, but securities trading had already begun there in 1935. Some leading pre-state banks, the
178:
that followed in its wake. The overriding objective of securities legislation is the protection of the investor.
900:
825:
609:
405:
186:
726:
286:
Senior
Advisor to the chairman and Director of the International Affairs Department - Mr. Offir Eyal, Adv.
151:, and brokers traded on what was at the time an unofficial exchange, the Exchange Bureau for Securities.
800:
885:
865:
384:
171:
295:
Director of the stock
Exchange and Trading Platforms Supervision Department - Mr. Ithzik Shurki, CPA
276:
Anat Guetta has served as chair of the ISA since 2018. Other officials within the agency include:
241:
155:
313:
Investigations, Intelligence, and Market
Surveillance Department Director - Mrs. Zippi Gez, Adv.
775:
76:
332:
144:
127:
8:
429:"Israeli binary options firm inadvertently tries to sell to Canadian fraud investigator"
292:
Head of
Administrative Enforcement Department Director - Dr. Ilana Lipsker-Modai, Adv.
175:
31:
673:"Sharansky to Israel's regulators: Shut down 'repugnant, immoral' binary options"
640:"Though fearing closure, the Wolves of Tel Aviv enjoy the party 'while it lasts'"
433:
226:
215:
140:
803:[ISA forbids publication of details on unregulated investment schemes].
194:
859:
874:
230:
206:
580:"Australia, Canada warn about 11 binary options firms, most of them Israeli"
490:"The wolves of Tel Aviv: Israel's vast, amoral binary options scam exposed"
253:
257:
200:
131:
could harm Israel's capital marketplace and Israel's investor community.
94:
550:"News Headline Alert: Israel's vast, amoral binary options scam exposed"
460:"Securities investigator randomly contacted by illegal investment firm"
280:
148:
307:
Director of the Information Systems Department - Mr. Natan Hershkovitz
80:
319:
Spokeswoman and Head of Investor Education Unit - Ms. Hadar Horen
190:
159:
301:
Corporate Finance Department Director - Mrs. Dorit Kadosh, CPA.
182:
65:
520:"Ex-binary options salesman: Here's how we fleece the clients"
109:
322:
ISA Chief Economist and Strategic Advisor - Mr. Ilan Gildin
852:
752:"Israelis flock to overseas real estate investment funds"
338:
List of financial regulatory authorities by jurisdiction
801:"ืจืฉืืช ื ื"ืข ืืืกืจืช ืคืจืกืื ืคืจืืื ืขื ืืืืื ืืฉืงืขื ืื ืืคืืงืืื"
703:"ISA to extend binary options ban to foreign customers"
776:"ISA :: Kela Fund โ Clarifications to the Public"
201:
Concerns about ISA inactivity in binary trading frauds
154:On December 1, 1953, official trading began on the
247:
671:Horovitz, David; Weinglass, Simona (2016-08-15).
670:
518:Weinglass, Simona; Horovitz, David (2016-04-07).
517:
427:Weinglass, Simona; Horovitz, David (2016-05-04).
426:
316:Deputy General Counsel - Mrs. Sarah Kandler, Adv.
872:
252:In 2015โ2017, following the collapse of alleged
298:Investment Department Director - Mr. Dudu Lavi
610:"What kind of person would rob an old woman?"
379:
377:
818:
219:quote from a trainer of binary fund traders
374:
289:General Counsel - Mr. Amir Wasserman, Adv.
30:
607:
577:
547:
487:
310:Secretary General - Mr. Oded Spirer, Adv.
193:Finance Committee. It also approves the
637:
398:
272:Anat Guetta, chair of the ISA since 2018
267:
896:Government agencies established in 1968
16:National securities regulator of Israel
873:
798:
749:
700:
666:
664:
283:, former chairman, appointed in 2002.
185:and recommends their adoption to the
631:
256:, namely Hilik Tapiro's Or Fund and
727:"Binary Options Legal Status Guide"
601:
511:
481:
420:
13:
661:
541:
97:, Chairperson (since January 2018)
14:
917:
906:Organizations established in 1968
844:
452:
891:Financial regulatory authorities
608:Weinglass, Simona (2016-07-06).
578:Weinglass, Simona (2016-07-07).
488:Weinglass, Simona (2016-03-23).
134:
792:
768:
743:
719:
694:
683:from the original on 2016-09-07
650:from the original on 2016-08-12
620:from the original on 2016-07-09
590:from the original on 2016-07-06
560:from the original on 2016-05-04
530:from the original on 2016-05-02
500:from the original on 2016-05-02
470:from the original on 2016-05-10
441:from the original on 2016-05-05
263:
248:Combating unregulated offerings
638:Wootliff, Raoul (2016-08-12).
571:
464:Manitoba Securities Commission
350:
1:
881:1968 establishments in Israel
805:ืืืืืืกื - www.calcalist.co.il
548:Cleveland, Tom (April 2016).
343:
861:ISA bid for IOSCO Conference
7:
799:ืืื ืืื, ืจืืื (2016-07-07).
750:Magen, Hadas (2017-02-02).
326:
120:Israel Securities Authority
49:; 56 years ago
20:Israel Securities Authority
10:
922:
165:
701:Stein, Ron (2017-02-23).
358:"ISA :: Anat Guetta"
172:Wall Street Crash of 1929
104:
87:
71:
61:
43:
38:
29:
24:
242:Supreme Court of Israel
156:Tel Aviv Stock Exchange
273:
221:
207:binary trading schemes
77:Kanfei Nesharim Street
731:www.binarytrading.com
333:Securities Commission
271:
211:
147:, which later became
901:Regulation in Israel
554:Forex Fraud, website
145:Anglo-Palestine Bank
128:securities regulator
187:Minister of Finance
21:
826:"ISA-Senior Staff"
274:
126:) is the national
19:
886:Finance in Israel
385:"Role of the ISA"
116:
115:
913:
862:
856:
855:
853:Official website
838:
837:
835:
833:
822:
816:
815:
813:
812:
796:
790:
789:
787:
786:
772:
766:
765:
763:
762:
747:
741:
740:
738:
737:
723:
717:
716:
714:
713:
698:
692:
691:
689:
688:
668:
659:
658:
656:
655:
635:
629:
628:
626:
625:
605:
599:
598:
596:
595:
575:
569:
568:
566:
565:
545:
539:
538:
536:
535:
515:
509:
508:
506:
505:
485:
479:
478:
476:
475:
456:
450:
449:
447:
446:
424:
418:
417:
415:
413:
402:
396:
395:
393:
391:
381:
372:
371:
369:
368:
354:
176:Great Depression
112:
88:Agency executive
57:
55:
50:
34:
22:
18:
921:
920:
916:
915:
914:
912:
911:
910:
871:
870:
860:
851:
850:
847:
842:
841:
831:
829:
824:
823:
819:
810:
808:
797:
793:
784:
782:
774:
773:
769:
760:
758:
748:
744:
735:
733:
725:
724:
720:
711:
709:
699:
695:
686:
684:
677:Times of Israel
669:
662:
653:
651:
644:Times of Israel
636:
632:
623:
621:
614:Times of Israel
606:
602:
593:
591:
584:Times of Israel
576:
572:
563:
561:
546:
542:
533:
531:
524:Times of Israel
516:
512:
503:
501:
494:Times of Israel
486:
482:
473:
471:
458:
457:
453:
444:
442:
434:Times of Israel
425:
421:
411:
409:
404:
403:
399:
389:
387:
383:
382:
375:
366:
364:
356:
355:
351:
346:
329:
266:
250:
227:Natan Sharansky
216:Times of Israel
203:
168:
141:State of Israel
137:
108:
100:
53:
51:
48:
39:Agency overview
25:ืจืฉืืช ื ืืืจืืช ืขืจื
17:
12:
11:
5:
919:
909:
908:
903:
898:
893:
888:
883:
869:
868:
857:
846:
845:External links
843:
840:
839:
817:
791:
780:www.isa.gov.il
767:
742:
718:
693:
660:
630:
600:
570:
540:
510:
480:
466:. 2016-04-20.
451:
419:
397:
373:
362:www.isa.gov.il
348:
347:
345:
342:
341:
340:
335:
328:
325:
324:
323:
320:
317:
314:
311:
308:
305:
302:
299:
296:
293:
290:
287:
284:
265:
262:
249:
246:
229:, head of the
202:
199:
195:stock exchange
167:
164:
136:
133:
114:
113:
106:
102:
101:
99:
98:
91:
89:
85:
84:
73:
69:
68:
63:
59:
58:
45:
41:
40:
36:
35:
27:
26:
15:
9:
6:
4:
3:
2:
918:
907:
904:
902:
899:
897:
894:
892:
889:
887:
884:
882:
879:
878:
876:
867:
863:
858:
854:
849:
848:
827:
821:
806:
802:
795:
781:
777:
771:
757:
753:
746:
732:
728:
722:
708:
704:
697:
682:
678:
674:
667:
665:
649:
645:
641:
634:
619:
615:
611:
604:
589:
585:
581:
574:
559:
555:
551:
544:
529:
525:
521:
514:
499:
495:
491:
484:
469:
465:
461:
455:
440:
436:
435:
430:
423:
407:
401:
386:
380:
378:
363:
359:
353:
349:
339:
336:
334:
331:
330:
321:
318:
315:
312:
309:
306:
303:
300:
297:
294:
291:
288:
285:
282:
279:
278:
277:
270:
261:
259:
255:
254:Ponzi schemes
245:
243:
237:
234:
232:
231:Jewish Agency
228:
224:
220:
218:
217:
210:
208:
198:
196:
192:
188:
184:
179:
177:
173:
163:
161:
157:
152:
150:
146:
142:
135:Establishment
132:
129:
125:
121:
111:
107:
103:
96:
93:
92:
90:
86:
82:
78:
74:
70:
67:
64:
60:
46:
42:
37:
33:
28:
23:
832:23 September
830:. Retrieved
828:. ISA.gov.il
820:
809:. Retrieved
804:
794:
783:. Retrieved
779:
770:
759:. Retrieved
755:
745:
734:. Retrieved
730:
721:
710:. Retrieved
706:
696:
685:. Retrieved
676:
652:. Retrieved
643:
633:
622:. Retrieved
613:
603:
592:. Retrieved
583:
573:
562:. Retrieved
553:
543:
532:. Retrieved
523:
513:
502:. Retrieved
493:
483:
472:. Retrieved
463:
454:
443:. Retrieved
432:
422:
412:23 September
410:. Retrieved
408:. TASE.co.il
400:
388:. Retrieved
365:. Retrieved
361:
352:
275:
264:Senior staff
251:
238:
235:
225:
222:
214:
212:
204:
180:
169:
153:
138:
123:
119:
117:
72:Headquarters
62:Jurisdiction
807:(in Hebrew)
390:18 February
258:Amir Bramly
189:and to the
95:Anat Guetta
875:Categories
811:2019-09-23
785:2019-09-23
761:2019-09-23
736:2019-09-23
712:2019-09-23
687:2019-09-23
654:2019-09-23
624:2019-09-23
594:2019-09-23
564:2019-09-23
534:2019-09-23
504:2019-09-23
474:2019-09-23
445:2019-09-23
367:2019-09-23
344:References
281:Moshe Tery
149:Bank Leumi
110:isa.gov.il
406:"History"
81:Jerusalem
681:Archived
648:Archived
618:Archived
588:Archived
558:Archived
528:Archived
498:Archived
468:Archived
439:Archived
327:See also
174:and the
83:, Israel
866:YouTube
191:Knesset
183:by-laws
166:Mandate
160:Knesset
105:Website
52: (
756:Globes
707:Globes
66:Israel
44:Formed
834:2019
414:2019
392:2014
139:The
118:The
54:1968
47:1968
864:on
124:ISA
75:22
877::
778:.
754:.
729:.
705:.
679:.
675:.
663:^
646:.
642:.
616:.
612:.
586:.
582:.
556:.
552:.
526:.
522:.
496:.
492:.
462:.
437:.
431:.
376:^
360:.
244:.
79:,
836:.
814:.
788:.
764:.
739:.
715:.
690:.
657:.
627:.
597:.
567:.
537:.
507:.
477:.
448:.
416:.
394:.
370:.
122:(
56:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
