Bank of Israel Regulation for Shekel Derivatives Commences in January 2017

[kreslik.news]

This article was written by Sarah Murray, compliance consultant at Sophie Grace.

Many FX brokers have products denominated in shekels and may not realise that they have reporting obligations to the Bank of Israel as well as their standard jurisdictional reporting requirements. FX brokers should review the reportable requirements list to determine whether or not they will need to commence reporting in January 2017 in order to maintain compliant when trading shekel derivatives.

The Bank of Israel’s reporting obligations for shekel reporting mandated under chapter 39(b) of the bank of Israel Law 5770-2010 will commence on 1 January 2017. ... (read more)