The Israeli law requires the TASE to formulate Rules, as a condition to receive a license. The Rules and any change thereto are subject to approval by the Minister of Finance, following consultation with the Israel Securities Authority, and approval by the Knesset (Israeli Parliament) Finance Committee.
The TASE is permitted to institute Regulations based on the Rules. The Regulations and any change thereto are subject to approval by the Israel Securities Authority.
The TASE is permitted to issue Temporary Regulations in order to examine a subject prior to their being permanently included in the rules or regulations of the TASE. Temporary regulations require approval by the Israel Securities Authority and notification of the Minister of Finance and the Knesset Finance Committee, as stipulated in the Securities Law. Temporary Regulations remain in effect for a period of one year, which can be extended by an additional year.