Administrative Claim (Administrative File) 61/3 Chairman of the Israel Securities Authority v. DGI Media inTax Appeal (November 15, 2016) - This is a proceeding that was discussed before the Administrative Enforcement Committee under the Securities Law between the Chairman of the Securities Authority and the Respondents in the case in accordance with Section 54B of the Securities and Exchange Law . The company has been engaged in the field of Internet advertising for about two years, and operates a trading arena in the field of binary options without a license. The company was accused of violating Section 44C of the Securities and Exchange Law, according to which "a person shall not manage a trading arena, unless he is a holder of an arena license, and in accordance with the terms of the license." As in the previous case, this case also does not include fraudulent aspects. The same decision also emphasized that this is the first case that deals with the issue of merchant arenas after Amendment 42.
Administrative Claim 4/12 Chairman of the Israel Securities Authority v. ASA (February 18, 2013) - In the same case, the case of the respondent, who holds an investment portfolio management license, was charged with three violations of the Consulting Law - breach of trust, breach of the duty to report, and the performance of prohibited activity by a license holder. I do not believe that the circumstances of this case are similar to the case before us. It should be noted that this arrangement was approved prior to the enactment of Amendment 42 to the Law.
The defense referred to three additional cases as follows:
The first case, Criminal Appeal Sentence (Central District) 49994-09-14 Hikari v. State of Israel (January 28, 2015) - This is an appeal proceeding against a sentence according to which the defendant was sentenced, among other things, to 50 months in prison, after he was convicted of offenses of fraudulent receipt under aggravated circumstances, and managing investment portfolios without a license, under sections 39(a)(1) and 2(b) of the Counseling Law. The second case - criminal case (Shalom Tel Aviv) 15072-08-09 State of Israel v. Maya (July 4, 2010) - where the sentence was discussed in the case of a defendant who was convicted of offenses of managing investment portfolios without a license and was given a suspended sentence. The third case, Criminal Case (Tel Aviv) 4580/02 State of Israel v. Mendelovitch (May 23, 2004) - This dealt with the punishment of a person convicted of offenses of managing investment portfolios under the Consulting Law.