Israel Securities Authority chairperson Prof. Shmuel Hauser has told Minister of Finance Moshe Kahlon that he wants to resign, and Kahlon accepted his resignation. Hauser has chaired the Securities Authority since May 2011. He is now in the middle of his second term in the job, after Kahlon extended his term in office in May 2016.
Kahlon said, "A few months ago, Prof. Hauser told me that he wanted to leave is job as chairperson of the Securities Authority. I asked him to stay on until early 2018 in order to complete the important processes that he has worked on, including the change in the structure of the TASE, concessions for R&D companies, concessions for new offerings, completion of the law banning trading in binary options, concessions for small and medium-sized companies, and strengthening enforcement in order to build public confidence." Kahlon thanked Hauser for his long and fruitful service as chairperson, and took particular note of the useful cooperation between the Ministry of Finance and the Securities Authority during his term, which made it possible to go ahead and complete all of these important reforms.
Hauser stated, "The minister of finance asked me to remain until early 2018 in order to complete what the Securities Authority and the Ministry of Finance began. We are now working on additional measures, which I hope to finish by the end of the year, including building infrastructure for setting up a secondary stock exchange, bringing a foreign stock exchange in as a partner in the TASE, expanding the dual listing arrangements with Hong Kong, Singapore, and Toronto, and completing the revolution of converting exchange-traded funds (ETFs) into exchange-traded notes (ETNs)." Hauser thanked Kahlon, who permitted, initiated, and pushed for the development of the capital market and the stock exchange in Israel, and especially for the excellent cooperation with him, to which he attributed the renewed success of the TASE.
At the same time, Kahlon announced that his candidate for Securities Authority chairperson is Securities Authority member and Entropy Financial Research cofounder Anat Guetta, who was CEO of the firm in 2010-2017. She was CEO of investment company Arko Holdings Ltd. (TASE: ARKO) in 2005-2008, served in a number of positions at Mizrahi Tefahot Bank (TASE:MZTF) in 1993-2005, and during her last five years there was an economist in the bank's business division.
Published by Globes [online], Israel Business News - www.globes-online.com - on November 28, 2017
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