חוק ניירות ערך (תיקון מס' 59), התשע"ו-2016Securities Law (Amendment No. 59), 2016 · automatic translation · suggest a correction

Official summary of the law (Knesset)

Securities Law (Amendment No. 59), 2016 (hereinafter - the Amendment), was passed in second and third reading on 28 March 2016. The Amendment amends the arrangement set out in the Securities Law, 1968, regarding the transfer of information between the Israel Securities Authority and foreign securities authorities, and adapts it to changes made over the years in other laws relating to the Securities Authority. It was clarified that assistance to foreign authorities also relates to the supervision of the implementation of securities laws, and the Authority's powers in the context of supervision as part of assistance to a foreign authority were eased, in accordance with the powers granted to the Authority in administrative supervision. In addition, a parallel authorization was established, similar to the authority of the Supervisor of Banks and the Commissioner of the Capital Market, Insurance and Savings, to disclose to those regulators information or a document required for the performance of their duties - as these are disclosed to the Chairman of the Israel Securities Authority. Additional amendments include authorizing the Minister of Finance to establish provisions under which the Israel Securities Authority will be authorized to establish rules regarding the implementation, in a prospectus or in reports, of an international financial reporting standard before the mandatory effective date of the standard.

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