The Israel Securities Authority was established under the Securities Law-1968, which defines its function as protecting the interests of the investor public. To this end, the ISA is active in the following areas, among others:
A. Supervision of corporations that offer their securities to the public, including issuance of permits to publish prospectuses that are the basis for public securities offerings, and inspection of the corporations’ reports.
B. Supervision of mutual fund managers, including issuance of permits to publish prospectuses that are the basis for mutual funds’ offerings of their units to the public, and regulation of their operations.
C. Licensing of portfolio managers, investment advisers, and investment marketers, and regulation and oversight of their operations.
D. Oversight of compliance of portfolio managers and non-bank exchange members with their obligations under the Prohibition against Money Laundering Law.
E. Supervision of the proper and fair management of the stock exchange.
F. Licensing of trading platforms to their own account, and regulation and oversight of their operations.
G. Licensing of offering coordinators and oversight of their operations.
H. Oversight of underwriters’ operations; I. Licensing of rating companies, and regulation and oversight of their operations.
J. Inspections of the supervised entities’ compliance with the Securities Law, the Joint Investments Law, the Investment Advice Law, and other laws under the ISA’s responsibility.
K. Investigations of violations of the Securities Law, the Joint Investments Law, the Investment Advice Law, and other laws related to such violations.
L. Administrative enforcement proceedings, ranging from inquiries concerning administrative offenses under the Securities Law, the Joint Investments Law, and the Investment Advice Law, to the commencement of administrative proceedings before the Administrative Enforcement Committee, at the order of the ISA Chair.
M. The ISA, jointly with the Institute of Certified Public Accountants in Israel, participates in funding and operating the Israel Accounting Standards Board.