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Minimum number of customers |
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Minimum total value of the securities portfolios of customers |
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Appropriate insurance |
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Obligation to provide written notice of appointment or retirement of its senior managers |
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Obligation to provide written notice of beneficial shareholders and any change therein |
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Transfer of control and/or transfer of shares requiring TASE Board of Directors approval |
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Required only for transfer of control |
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Good repute of controlling shareholders, interested parties, and senior managers of the member |
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The requirement refers to controlling shareholders and senior managers |
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A majority of the directors are residents of Israel and have the know-how of the capital market |
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The general manager and the manager of the Securities Unit having training and knowledge of the capital market |
The requirement refers to the manager of the central securities unit |
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Obligation to give written notice to the TASE of the appointment or retirement of its senior managers |
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Required minimum equity, assets, liquid assets, and positive working capital |
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Existence of appropriate computer and communications systems and professional personnel |
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Minimum two years of activity in securities investment counseling or securities portfolio management |
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Appointment of a credit controller, and notification of appointment or retirement of a controller |
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Appointment of a chairperson of the board of directors, the board consisting of at least 3 directors, including at least one external director |
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Obligation to submit a reasoned written resignation letter of a member’s external director |
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Obligation to appoint an audit committee including at least one external director |
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Obligation to appoint an internal auditor |
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Obligation to give written notice of any change in the composition of the audit committee, and the appointment or retirement of an internal auditor |
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Obligation to give written notice of the appointment or retirement of the auditor’s |
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