The Israel Securities Authority has told publicly traded companies that they must report any significant exposure in Cyprus.
The Israel Securities Authority (ISA) has demanded that publicly traded companies with activities in Cyprus that are exposed to the crisis on the island must report the scope of their exposure. The ISA announced yesterday, "Following the ISA's announcement on January 29 2012 dealing with 'disclosures about changes in the economic environment, the euro zone crisis and market risks', and taking into account developments in recent days regarding the EU bail-out package for the Cypriot banking system and the possible option of taxing deposits in Cypriot banks, it is incumbent on companies significantly influenced by these changes to provide disclosures as part of their periodical reporting."
Published by Globes [online], Israel business news - www.globes-online.com - on March 20, 2013
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