prime minister Benjamin Netanyahu met today at his office in Jerusalem with the Chairman of the U.S. Securities and Exchange Commission, Paul Atkins.
The meeting discussed the possibility of advancing a mechanism for mutual recognition of securities registration, similar to the Multi-Jurisdictional Disclosure System (MJDS) model practiced in the U.S., which allows for mutual regulatory reliance between securities authorities. This move is expected to facilitate Israeli companies traded on the Tel Aviv Stock Exchange to also register for trading in the U.S., while reducing regulatory duplications, streamlining reporting procedures, and increasing companies’ accessibility to international capital markets.
This is significant news for the investing public, who will be able to trade securities listed on U.S. stock exchanges with ease and accessibility, while gaining exposure to high-quality and valuable companies. The parties agreed that joint professional teams from the securities authorities will meet to examine the feasibility of advancing the model and the necessary regulatory adjustments for its implementation between Israel and the U.S.
Participants in the meeting included, among others, Chairman of the National Economic Council, Prof. Avi Simhon, Director General of the Israel Securities Authority, Oded Shacham, and the U.S. Ambassador to Israel, Mike Huckabee.
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