Israel Securities Authority

Resilience Amidst Conflict: Israeli Capital Market's Response to the Swords of Iron War 🆕 In April, our Economic Research Department published a review titled "The 'Iron Swords' War as Reflected in the Israeli Capital Market." The department, led by Chief Economist Ilan Gildin, revealed several key findings: ➡️ The initial market shock following the October 7 attack was brief, with investors quickly adopting a longer-term outlook. ➡️Analysis of past crises demonstrates Israel's adeptness at navigating economic turbulence. ➡️The @Tel Aviv Stock Exchange remained operational throughout, underlining its vital role in the economy. ➡️Swift recovery was facilitated by investor experience and agile responses from business and government sectors. While long-term impacts are yet to unfold, the Israeli market has shown remarkable resilience. As ISA Chairman Seffy Zinger notes, "The Israeli economy has maintained stability, but a prolonged conflict presents new challenges." This review highlights not just the strength of Israel's financial ecosystem, but the nation's enduring spirit in adversity. Read the full review >> https://bit.ly/45Zu8SF Ilan Gildin  Guy Sabbah Nathan Goldman Alon Zilburg Ariel Joshua Liza Teper

Yesterday, the IPO conference of the Israeli Association of Publicly Traded Companies was held. It was attended by the Chairman of the Israel Securities Authority, Seffy Zinger, and the Head of the International Department, Offir Eyal. The Chairman spoke about the recovery in the capital market after a challenging period, promoting securitization in Israel by removing regulatory barriers such as the double rating requirement, a new legislative memorandum to promote public offerings, including amendments such as section 46b and the development of ABSs, strengthening enforcement and supervision by integrating advanced and AI-based technologies, and improving service to supervised entities which the Israel Securities Authority views as customers. Additionally, the Head of the International Department emphasized the advantages of dual listing for companies and its importance for the Israeli capital market, as well as the moves the Israel Securities Authority is promoting on this issue, such as allowing companies with multiple share classes to list. Israeli Association of Publicly Traded Companies Tel Aviv Stock Exchange - הבורסה לניירות ערך Seffy Zinger Offir Eyal

Yesterday, the Chairman of the Israel Securities Authority, Seffy Zinger, and its CEO, Oded Spirer, rang the bell at the opening of trading on NASDAQ. This emotional moment symbolized the robust economic partnership between Israel and the United States.           The Israel Securities Authority is dedicated, even in these challenging times, to promoting and moving the capital market forward. Our thoughts and prayers are always with the kidnapped held in Gaza. Seffy Zinger Oded Spirer

The Ministry of Finance and the Israel Securities Authority are promoting steps to accelerate the economy and develop the capital market following the “Swords of Iron” war. A memorandum of law was published, with measures aim to stimulate the capital market, broaden investment opportunities, and streamline financial services by adapting regulations to meet evolving market needs. Among the key points: expanding opportunities for dual-listing companies to register on the Tel Aviv Stock Exchange; steps to increase competition in business credit by easing regulations on the commercial paper market; developing an equity research market in Israel; and establish the Infrastructure for “private equity investment trusts”.   Chairman of the Israel Securities Authority, Adv. Seffy Zinger: "The ongoing conflict is expected to significantly impact the Israeli economy and capital market. I believe we must prepare ourselves to the day after the war and proactively work to accelerate economic activity. The steps we are proposing now are part of a series of initiatives by the Israel Securities Authority to develop the capital market while continuing to protect investors."                                                              For the full memorandum of law in Hebrew >> https://shorturl.at/alnw4

The Israel Securities Authority wishes you a happy Hanukkah!

Join us today❕ Thursday 30.11.23 | At 17:00 for the virtual lecture (in Hebrew) "Swords of Iron War - review of the local markets and activities of the Israel Securities Authority”, by Ilan Gildin, Chief Economist, Israel Securities Authority.  👉The lecture will be broadcast on the Israel Securities Authority's Facebook and YouTube, today at 17:00 (no link required to join) 👈 Join us now >>> https://lnkd.in/dxWNfz5Y Ilan Gildin

At the beginning of October 2023, the International Organization of Securities Commissions (IOSCO) and its members celebrated, for the seventh year running, World Investor Week (WIW).  WIW campaign is designed to rais awareness of the importance of financial education, and of the financial regulators role in promoting responsible and informed financial practices. We in Israel did not celebrate. At that time, the State of Israel was under a murderous terror attack, and since that time, has been fighting to protect our homeland, Israeli citizens, and to bring back home the kidnaps and hostages currently in hands of war criminals.   Since the outbreak of the war, we at the Israel Securities Authority continue to perform our duty to preserve the financial stability and integrity of the capital market, for the public at large. This week we decided to join our colleagues at IOSCO in recognizing World Investor Week 2023, with important messages, which are no less relevant in times of war. We are always pleased to take our part in international organizations that promote significant activities, and to cooperate with our partner states to promote capital market development and investor protection. It goes without saying that in these difficult days, we are strengthened by the knowledge that our friends in the developed world, who believe in justice and humanity, stand at our side throughout these times. #WorldInvestorWeek #IOSCOWIW2023

Offir Eyal, Director of International Affairs and Business development Department, spoke at the OECD Corporate Governance Committee, which took place yesterday in Paris: "I want to say a few words about the situation in Israel. I know that currently everybody talks about a ceasefire. Let me remind you that there was a ceasefire, until October 7 at 6:28 AM, when Hamas terror organization broke it and opened a war on Israel. 3,000 fully armed terrorists invaded to Israel, entered specifically to villages, cities and a nature party, and slaughtered innocent civilians. Children were murdered in front of their parents. Parents were murdered in front of their children. Women were raped and then shot. Houses were burned, and entire families just vanished. Hamas terrorists brutally and intentionally murdered that way 1,400 Innocent women, men, children, and older people. They acted in brutality and sadism like ISIS does. Actually, it is worse than ISIS. The killing itself was the goal.   In addition, more than 240 Israelis were kidnapped to Gaza, including a 9-month-old baby; 10 children under the age of 5; and some Holocaust survivors in their eighties.  And it all happened 55 km from the ISA Tel Aviv offices. Not in the outer space. Since October 7, Israel has also been subjected to continuous rocket attacks by Hamas. More than 9,500 rockets have been launched. Many of them to major cities like Tel Aviv; almost all of them were directed intentionally to city centers, aiming to kill civilians. All of the above forced 250K Israelis to leave their houses, and to be refugees in their own country. This is terror.  And condemning this slaughter is not a matter of political view; it is a matter of humanity. Israel – the only democracy in the Middle East - has, of course, the fundamental right and duty to defend its civilians against such an ISIS-like terror organization. And that's exactly what we are doing. This is what every rational country would have done in the same circumstances. Democracies don't like to fight; but sometimes they must.  But they fight for freedom; out of necessity; according to the international laws; and for creating prosperity and good lives.    Israel is fully committed to the international laws. Although Hamas does everything it can against the same laws: fighting from hospitals and schools; forcing children to stand in front of his terrorists when they shoot us; using women as human shields; using ambulances to transfer weapons; and more.  I hope - both for us and also for the civilians of Gaza who also suffer from the ruling of Hamas - that the war will end soon. I also want to thank you for the unified backing we receive from the international leadership of almost all liberal democracies, including the European Union, the UK, France, Italy, and our best ally - the USA." #standwithisrael #standwithus

Yesterday, we issued a document articulating guidelines and issues to be emphasized when releasing interim financial statements for the third quarter of 2023 and immediate reports to maintain high standards of timely and quality disclosure.   This document will assist companies in focusing on issues for which public disclosure of practical, accurate, and timely information is necessary regarding the implications of the war as it unfolds. Such disclosure will provide greater certainty to the information that is likely to be delivered to investors - in terms of disclosures in immediate reports as well as in terms of disclosures of industry data and data on financial and business conditions anticipated in the publication of quarterly reports for Q3/ 2023.

Opportunities like this don't come every day. This is a chance to join a team of technological experts in a role with a significant impact on the financial market integrity - Data and Forensic Lab Manager - Digital Investigations & Intelligence.    Matan Loren is the Director of the Forensic Technology, eDiscovery and Analytics unit at the Investigations and Intelligence Department, and we asked him to tell us a bit about the role:   "Our department is dedicated to uncovering high-profile financial crimes involving fraud and economic misconduct in the capital market. Every day, we deal with vast amounts of digital data from various sources in many shapes, which are a crucial evidence providers of every investigation, we process and analyze the data using state-of-the-art technologies, discover the truth and act on it.   The unit focuses on developing and integrating innovative data-driven, cyber, and artificial intelligence solutions that automate and streamline the investigation workflow and provide quick insights.”   Interested in being part of the team? For more details about the position, click on the link > https://lnkd.in/djvQgSwZ