Israel Securities Authority Chair Targets U.S. Investment Amidst Recovery Efforts

The chairman of the Israel Securities Authority (ISA), Seffy Zinger, is embarking on a mission to the United States with the intention of attracting U.S. investors and conveying a message of resilience in the face of recent conflict. This move aims to fortify economic growth and international confidence in Israel's market.

Pursuing Economic Stability Post-Conflict

Following a significant tension on Israeli markets due to the three-month conflict with Hamas, the main Tel Aviv 125 index experienced a downturn of 15% after an attack on October 7. However, the market has shown signs of robustness, bouncing back to finish the year with a 4% increase, although it underperformed in comparison to U.S. markets. Presently, the market has stabilized, returning to pre-war figures.

Seffy Zinger's Strategic Outreach

Zinger, who has a deep background in corporate and securities law, has stepped in as the new leader of the ISA and is looking forward to potential economic recovery in his country. "Our economy has proven its functionality even amidst warfare, with the stock exchange remaining operational throughout," he remarked in a statement. He emphasized the anticipated growth post-conflict and highlighted the enduring strength of Israel's high-tech sector.

As Israel recovers from the manpower strain caused by the enlistment of over 300,000 reservists, the economy is expected to receive a much-needed impetus, which will be particularly beneficial for the flourishing high-tech industry. Zinger's agenda also includes adapting to modern technological advancements, such as AI, and integrating it effectively within the country's older securities laws.

Alongside these reforms, Zinger aims to toughen the ISA's enforcement by enhancing company reporting standards and intensifying the consequences for violations.

Engaging with Global Standards and U.S. Counterparts

Zinger's journey to the United States, though planned prior to the armed conflict, marks the first such undertaking since the pre-pandemic period. Scheduled meetings with key individuals, including the U.S. Securities and Exchange Commission (SEC), will take place in New York and Washington. Furthermore, he is set to make a presentation at the Needham conference, engaging with industry peers to discuss developments and opportunities in the tech sector.

The overarching goal for Zinger's U.S. tour is to better align Israeli regulations with international norms, and to expand the presence of foreign investors and companies within the Tel Aviv Stock Exchange. A new policy allowing firms to report in English is designed to rise foreign investments beyond the current 20% stake.

Israel, Securities, Investment