Israel regulator opens market to structured notes, all ETNs to become mutual funds

The Israeli Securities Authority (ISA) is seeking feedback on draft regulations that concern the public offering of structured notes linked to currencies, securities indices or commodities. The move follows a 10-year period with no structured note public offerings in Israel. The only structure notes that can be issued for public offering in Israel will be ‘simple and static’ notes that do not feature any discretionary action on behalf of the issuer and no active asset management of