Media Centre

Client Update | Prohibition on Offering Securities-Trading Services

23 October 2017

On July 6, 2017, Amendment 63 to the Securities Law, 5728-1968 (the “Amendment” and the “Law”, respectively), was enacted. This Amendment includes a prohibition on offering securities trading services with respect to a trading system that is not licensed in Israel. Under the new Section 49A to the Law, there is a prohibition on offering securities-trading services through a securities trading system which is not managed by a licensed exchange in Israel. The Amendment does not specify any exceptions to the application of Section 49A, including with respect to offering securities trading services to Sophisticated Clients.

To read the full client update – click here.

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