Control of Financial Services (Regulated Financial Services) Law (Amendment – Granting a License to a Foreign Service Provider) Bill
Translated from Hebrew: הצעת חוק הפיקוח על שירותים פיננסיים (שירותים פיננסיים מוסדרים) (תיקון - מתן רישיון לנותן שירות זר)
TL;DRA bill to expand the supervisor's powers to grant licenses to foreign financial service providers regulated under foreign law, while maintaining customer protection.
Translated from Hebrew
What does the bill do?
The bill amends the Supervision of Regulated Financial Services Law to allow foreign financial service providers (that do not deal in deposits or credit) to receive a license from the supervisor even if they do not meet all the regular conditions, on condition that the foreign law regulating them covers the relevant issues. The bill also states that the supervisor may exempt foreign license holders from certain provisions of the law in writing and with reasons. In addition, the bill makes technical changes to definitions and to other provisions.
The votes on this bill
Coalition 67 seats
Left the coalition 9 seats
Opposition 44 seats
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