Adv. Amir Scharf, Head of Capital Markets, Securities & Financial Services Regulation at Tadmor Levy, spoke to Anat Davidov on financial radio magazine "Show me the Money" regarding last week's Tel Aviv District Court ruling, which found the Israel Securities Authority negligent in supervising Utrade Premium, leading to its collapse.
"This decision has far-reaching implications", said Scharf, who believes the court's ruling to be exceptional and erroneous. Mr. Scharf commented that if the decision is not overturned on appeal , it will have a significant negative effect on the ISA's enforcement abilities and on the freedom of action of participants in the Israeli capital market.