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The law regulating investment consulting, investment marketing and portfolio management – 1995 – 2014

When requesting to provide investment consulting or investment marketing or portfolio management to the greater Israeli market one need to take under advisory that the trade of investment is a highly regulated one in Israel.

According to the law which regulates the above mentioned actions one is able to provide these services without having the necessity of acquiring a license if the following terms are met:

  1. The investment advisory or portfolio management is provided to no more than 5 clients per calendar year (The advisory is permitted only to individuals and not to a corporation).
  2. The investment advisory is permitted to be given in the general media.
  3. The investment advisory is given to a sophisticated client:

Definition of a sophisticated client:

  1. Total value of all assets (cash, deposits, financial assets) exceeds 12M NIS (around 3M CHF).
  2. The client has proven skills in the capital market or was employed for at least one year in a professional role requiring expertise in the capital market.
  3. Has performed at least 30 transactions in average per quarter in the previous four quarters prior to his consent.
  • At least two of the above-mentioned terms must be met.

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