Israel's investment industry has been reported as growing,
and not surprisingly it has received interest from the Israeli
Securities Authority. Late last year the ISA surveyed several funds
and found that they were not following the requirements of
Israel's privacy laws. This resulted in a recent letter sent by
the ISA to fund managers, warning the managers to take steps to
protect customer information. Israel, like most countries around
the globe, has a privacy law and corresponding
regulations. Unlike many other
jurisdictions, though, its privacy law has been deemed "adequate" by
the EU, and as such, compliance can be a fairly rigorous
exercise. Accompanying the ISA letter were
"insights" on how to protect information, including
things like software updates and user authentication. Included in
the insights were recommendations that are not included in
Israel's privacy law or regulation. However, the insights do
mirror requirements that exist under Israeli laws for
