The Israel Securities Authority was established under the Securities Law-1968, which defines its function as protecting the interests of the investor public.‎‎‎‎‎‎‎ To this end, the ISA is active in the following areas, among others: ‎‎‎‎‎ *The ISA issues permits to publish prospectuses that provide details about an offering of securities for sale to the public, and prospectuses of mutual funds' offerings of units for sale to the public.‎‎‎‎‎‎‎‎‎‎ *The ISA reviews reports that are filed by reporting entities, including: ‎‎‎‎‎ -‎‎‎‎‎Immediate Reports, quarterly and annual Financial Statements;‎‎‎‎‎ ‎‎‎‎‎ -Reports of transactions between companies and their controlling shareholders;‎‎‎‎‎ ‎‎‎‎‎ -Reports on private offerings of securities;‎‎‎‎‎ ‎‎‎‎‎-Purchase offer specifications;‎‎‎‎‎ ‎‎‎‎‎ -Mutual funds' current reports.‎‎‎‎‎ *‎‎‎‎‎Issues licenses to portfolio managers, investment advisors and investment marketers, and regulates and supervises their operations. ‎‎‎‎‎ ‎‎‎‎‎*Ensures that portfolio managers and non-banking members of the Stock Exchange comply with the Prohibition on Money Laundering Law.‎‎‎‎‎ ‎‎‎‎‎ *Oversees the proper, fair operation of the Stock Exchange. *‎‎‎‎‎Issues licenses, regulates, and oversees the proper and fair operation of Trading Platforms to their own account. *Conducts investigations of violations of the Securities Law, the Joint Investment Law, the Investment Advising Law, and other laws related to those offenses. ‎‎‎‎‎ ‎‎‎‎‎ *Conducts administrative enforcement proceedings of administrative violations under the Securities Law, the Joint Investment Law, and the Investment Advising Law, and conducts administrative proceedings before the ISA Enforcement Committee, at the orders of the ISA Chair. ‎‎‎‎‎ ‎‎‎‎‎ *The ISA, together with the Institute of Certified Public Accountants in Israel, participates in funding and operating the Israel Accounting Standards Board.‎‎‎‎‎