Recent measures taken by Israel Securities Authority concerning who may be considered an “accredited investor”, will enable an even larger number of Profimex’s Investors to meet the qualifications mandated by the ISA.
An amendment to the Israeli Securities Law, distinguished between investors who meet the criteria of the First Addendum to the Securities Law and qualified investors for the purpose of the Investment Advice Marketing Law: The Change included lowering the liquid assets threshold required to be included in and the the First Addendum and adding additional alternatives of annual income or a combination of liquid assets experience or expertise in the capital market and annual income, as well as eliminating criteria requiring and minimum number of transactions per quarter. These amounts are indexed to the Consumer Price Index every three years.
As an accredited investor, you will become eligible to join the Profimex InnerCircle, available only to those who meet the qualifications of an accredited investor according to the ISA. As a member of the Profimex InnerCircle, you will be eligible to be among the first to receive complete details of investments that we are undertaking with our global partners and additional benefits. To qualify as a Profimex InnerCircle member and receive further detailed information about our investments, please contact your personal investment advisor at Profimex or fill out the contact form at the bottom of this page.
Please be aware that before you sign on to any given investment, and in order to benefit from the other Profimex InnerCircle advantages, we will need appropriate written documentation to support your status as an “accredited investor,” such as a letter from an accountant, attorney, or, in appropriate circumstances, another third party with the proper authority to confirm that the necessary due diligence process has been undertaken to independently confirm your eligibility and status as an accredited investor. Further information about this confirmation letter.
Regulatory Qualifications
* In each of the last two years.
[1] Liquid assets – This refers to cash, deposits and financial assets as defined by the Israeli Regulation of Investment Advice, Investment Marketing and Investment Portfolio Management Law of 1995, as well as securities traded on the stock exchange. Financial Assets – Instruments as defined by the Israeli Joint Investment Trust Law of 1994, stocks or shares in funds registered outside Israel, options, futures, structured or indexed products and pension funds.
[2] Family Unit – Defined as an individual and his/her household living with him/her and/or dependents.
To verify a client’s status as an accredited investor based on liquid assets, we suggest two options:
Obtain written affirmation from an accountant, lawyer, or, in appropriate circumstances, another third party (reasonably relied upon) indicating that reasonable steps have been taken (aside from reliance on the investor’s declaration) to confirm that the investor meets all the eligibility requirements, specifying those measures taken to make such an assertion
Alternatively, we are willing to conduct an independent verification of the investor based on external evidence and documents presented to us by the investor.
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