כניסה

Administrative Enforcement Department
Since 2011 in addition to the criminal enforcement mechanism, the ISA has an administrative enforcement one. According to the Securities Law, administrative enforcement proceedings against violators are opened following a decision by the ISA's Chairman. Thus, the ISA established an Administrative Enforcement Department, which develops administrative claims for the ISA, following the findings of administrative probes forwarded by the Investigations, Intelligence and Market Surveillance Department. ‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎ The procedures submitted to the Administrative Enforcement Committee's approval include enforcement procedures due to administrative violations of the Securities Law, the Investment Advice Law and the Joint Investment Law. The Administrative Enforcement Department then handles the case for the ISA, before the Administrative Enforcement panels.
 
The Department develops the enforcement settlements, representing the Chairman of the ISA in the negotiations with the violating parties as well as before the panel of the Administrative Enforcement Committee in the enforcement settlement approval process. ‎‎‎‎‎‎‎‎‎‎
 
The Committee also discusses suspension and revocation of individual licenses on the grounds of a license holder's unreliability, under the Investment Advice Law. ‎‎‎‎‎‎‎‎‎‎‎
‎‎‎‎‎‎‎‎‎‎‎In addition to the administrative proceedings held before the Administrative Enforcement Committee, the Securities Law and Regulations have included an administrative proceeding of Financial Sanctions imposed by the ISA. The Administrative Enforcement Department is responsible for managing those proceedings also. The financial sanctions are imposed on supervised entities which commit violations of the Securities Law and Regulations. The ISA is authorized to reduce financial sanction amounts in accordance with the causes and percentages prescribed by the Securities Regulations.‎‎‎‎‎‎‎‎‎‎‎ ‎‎‎‎‎‎‎‎‎‎‎for this purpose, the ISA's plenum authorized the establishment of an internal committee, which includes the Chairman of the Israel Securities Authority and two members of the plenum. In addition, the Department is responsible for managing financial sanction procedures under the Prohibition on Money Laundering Law, regarding non-banking members of the Stock Exchange, as well as portfolio managers.
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22 Kanfei Nesharim St., Jerusalem 95464. Tel: 02-6556555, Fax: 02-6513646
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