Tel Aviv Stock Exchange (TASE) CEO Ester Levanon said today, "I believe in regulation, and we don't need light regulation." Levanon spoke at the International Organization of Securities Commissions (IOSCO) annual conference. The conference is being held in Tel Aviv, the first time it has ever been held in Israel.
Levanon said, "There have been times when I admitted that I don't really love regulation. If anything has changed, it is my opinion in this matter. The market must head toward regulation. We need to attract investors, and we need to attract them because of the quality of the market, not because of light regulation."
Discussing halts in trading, Levanon said that they considered "circuit breaker" rules in the bond market as well, not just in equities. According to Levanon, at the height of the crisis, there were a number of instances in which there were calls, including from the Ministry of Finance, to halt trading. In the end, trading was not halted, and the market handled the situation well.
Published by Globes [online], Israel business news - www.globes-online.com - on June 11, 2009
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