Regulatory Alerts2022-06-13
Presentation of Activity Data in Securities Deposit
The Bank of Israel issued Circular C-06-2717 to amend Proper Conduct of Banking Business Directives 460 and 425 regarding the presentation of activity data in securities deposits. The updates clarify that returns are calculated net of fees and excluding tax expenses, exclude specific entities like market makers from reporting requirements, and refine the format of periodic and abbreviated customer reports. These revised directives are scheduled to take effect by January 1, 2023, with the updated abbreviated reports due by February 28, 2024.
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