In this long-form post published on LinkedIn Pulse and titled “IL companies listed in the US may be eligible for exemptions”, Ori Zanco of Katzenell Dimant describes two significant easements for Israeli public companies listed for trade in the United States, which where included in recent amendments to the Israel Securities Regulations.
I had the pleasure of working with Ori and providing Editorial Services for this piece.
Ori Zanco is a Partner at Katzenell Dimant, where he deals with challenging issues of corporate governance and regulatory compliance, securities law and capital markets, ISA and TASE reporting obligations, public equity and debt financing.
From IL companies listed in the US may be eligible for exemptions:
“A couple of weeks ago Prof. Shmuel Hauser spoke at the 2020 Forecast Conference, hosted by TheMarker. If you haven’t read the press I recommend doing so here – the chairman of the Israel Securities Authority shared with the audience of his dream to someday bring an end to the IPO draught, and in doing so listed many steps the capital market regulators are taking in their quest to make the Tel Aviv Stock Exchange more attractive to emerging companies.
While many efforts are aimed at bringing in new companies, the ISA and the TASE are also trying to make life easier for listed companies by removing obstacles and reducing regulation where possible. One such place where regulation has been reduced applies to Israeli companies listed for trade on stock exchanges in the United States.
Recent amendments to the Companies Regulations published in April 2016 set forth that companies listed for trade on NASDAQ, NYSE or AMGX that meet certain criteria can be exempt from the requirement to appoint external directors, as generally required from public Israeli companies.”