Israeli Regulator ISA Chief Shmuel Hauser resigns before his official term ending date. What is the reason behind this decision? We look into Mr. Hauser's accomplishments briefly in this article.
29 November, AtoZForex – The chief of the Israeli Securities Authority (ISA), Professor Shmuel Hauser is reported to leave his position at the beginning of the next year. Hauser’s term was set to expire in May 2019, thus, this news emerges as quite a surprise for the market participants.
Israeli Regulator ISA Chief Shmuel Hauser resigns
Mr. Hauser has been serving as a Chairman of the ISA since 2011. In fact, during his term, Mr. Hauser has been very active in targeting fraudulent entities, as he has also ordered a number of criminal investigations into numerous cases.
Earlier last year, the Chairman of the ISA, Prof. Shmuel Hauser has reported to Israeli local media that he has addressed the legal authority of the government. He was asking to enable him to cease the marketing of Binary Options abroad.
Such initiative was taken, as according to Mr. Hauser Binary Options fraud is “an ugly phenomenon that is tarnishing Israel’s image.” Consequently, the ISA planned action against Israeli Binary Options trading platforms. Forex trading was restricted in Israel, whereas Binary Options were forbidden for Israeli traders.
Hauser working on Israel ICO regulations?
Reportedly, the finance minister of Israel, Moshe Kahlon, has tried to convince Mr. Houser to stay in his position. Yet, the attempt was not successful. Mr. Hauser has commented on his decision to leave the position of the ISA Chief:
“These days we’re working on a few moves and I hope to accomplish them before I leave.”
Indeed, Mr. Hauser stated that he believes he accomplished his goals within the organization. He is going to stay in the position until the beginning of 2018, working on the ongoing projects.
In fact, we have reached out to the representatives of ISA and found out that Mr. Hauser has appointed a committee at the end of August to consider regulation over the ICOs industry. This project might be one of those current things ISA Chair is working on. According to some of the online sources, ISA might even consider a complete ban on ICO industry. Yet, the representative with ISA did not provide any comments on that.
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