The Securities Authority does not have the same powers as the police.
Wrong. ISA investigators and police investigators have similar powers, including the authority to conduct searches and make arrests.
The Investigations Department decides whether or not to file an indictment.
Wrong. After concluding an investigation, the Investigations Department transfers the investigation file and its conclusions to the prosecution. The prosecution examines the evidence in the case and decides whether or not to file an indictment.
Violations of the Securities Law are misdemeanors that are not punishable for jail time.
Wrong. Some securities violations are criminal offenses that carry a penalty of imprisonment for up to five years. Bear in mind that there are also powers to investigate serious criminal violations under the Penal Code.
If an investigation continues for a long time, this implies that the ISA has no evidence in the case.
Wrong. ISA investigations are sometimes complex and wide-ranging, and may entail the use of special technologies or inquiries in foreign countries.
Securities investigators only investigate corporate officers and securities officials.
Wrong. Investigators have statutory powers to interrogate any person connected to an investigation.