MAGNA is an internet based system for receiving and distributing the information related to all the reports submitted by entities supervised by the ISA, including: public companies, fund managers, trustees, underwriters, investment advice companies and portfolio management companies. The project combines electronic and internet communications and puts them to the service of the investing public, as well as various other entities under the ISA supervision, by immediately displaying the aforesaid information on the internet site and providing investors with equal access to the reported data, as well as saving the reporting entities significant financial expenses related to wide distribution of hard copies containing the aforementioned information.
MAGNA processes all types of reports submitted by reporting corporations, including prospectuses, annual reports, quarterly reports, immediate reports, reports regarding changes in the holdings of principal shareholders, details of purchase offers, conflicts of interest reports, private allocations reports and as well as the reports of the dual-listed corporations. The system also processes prospectuses, immediate and monthly reports submitted by mutual funds, underwriters, portfolio managers and investment advice companies.
MAGNA allows all the reporting entities to submit their reports to the ISA via internet, through the ISA "reporting site", while the public can review these reports through a separate "distribution site". Reports submitted through MAGNA include – prospectuses, financial reports, immediate reports, various drafts, principal shareholders reports, etc.
The main purpose of MAGNA is to improve investors' confidence in the capital market and to bring them closer to it.
MAGNA is protected by the most advance IT security systems and, for the first time in Israel, uses an electronic signature within the meaning thereof under the Electronic Signature Regulations.