The Israel Securities Authority is considering allowing new immigrants applying for a license in investment counseling, investment marketing, and portfolio management to take an examination in securities law and professional ethics on the next date (November 24, 2016) in English. The examination questions will be translated only into English, while the legal and professional terms (for example, definitions appearing in the relevant laws and regulations) will appear in Hebrew with no translation. A person taking the exam in English will also receive the original Hebrew examination together with the translated version, and the Securities Authority will regard the Hebrew version as binding for the person taking the exam.
Only new immigrants, as defined by the Securities Authority for the purpose of making accommodations in the exams, will be allowed to take the exam in English. Those taking the exam in English will still be entitled to 40 extra minutes for the exam, and can still use dictionaries in accordance with the current rules.
This concession will enable new immigrants taking the exam to spend their time on the substance of the questions, instead of struggling to understand the Hebrew, but the immigrants will still have to learn the legal and professional terms in Hebrew. This will remove an obstacle for new immigrants from English-speaking countries required to take the exam, which is the only licensing exam given by the Securities Authority for which no exemptions are granted.
At this point, the exam is being given in English as a one-time pilot project. The Securities Authority will consider whether to continue this option according to the insights gained from the pilot and the demand for the exam in English, if any.
In order to see whether there is a demand for an exam translated into English, those wishing to take the exam in English are requested to contact the Securities Authority through the contact option on the https://isaexams.co.il website by September 15, 2016. Those interested should state that they are interested in registering for the exam in securities law and professional ethics in English to be held on the next examination date, and give their name and a telephone number through which they can be contacted. Sending a request in this manner does not constitute registration for the exam itself, and does not require payment of a fee.
After September 15, 2016, the Securities Authority will announce whether an exam in English will be held. At this point, anyone meeting the above-mentioned criteria can register for the exam in the ordinary way (through online Form 001) according to the ordinary registration dates.
Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2016
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