Securities Authority mum on planned oil, gas rules

By ADI BEN-ISRAEL/GLOBES
November 14, 2010 13:55

The Israel Securities Authority  held a briefing today on the results of its study into trading in Tel Aviv Stock Exchange (TASE) listed oil and gas exploration partnerships. Securities Authority Economics Department director Dr. Gitit Gur-Gershgoren presented the results.

The Securities Authority is formulating new reporting rules as oil and gas exploration activity has boomed in recent months, and because many exploration partnerships' disclosure to the public has simply been unclear. The new rules will reportedly be ready in a few weeks, and today's briefing was a kind of opening shot by the Securities Authority on tighter regulation of the industry.

Gershgoren said, "The new and special reporting rules for the oil and gas industry will be published after the Securities Authority plenum approves them." She avoided giving details about the new rules, saying only, "We hope that they will come into effect before 2011."


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