In accordance with Section 16A(a)(2) of the Investment Advice, Investment Marketing and Portfolio Management Law, 1995 (hereinafter: “the Law”), Psagot Investment House wishes to inform you as follows:
Psagot Securities Ltd., a member of the Tel Aviv Stock Exchange and a licensed investment marketer (hereinafter: “the Company”), engages in investment marketing (and not investment advice) and is part of the Psagot Investment House group (hereinafter: “the Investment House”).
The Investment House is active, directly and indirectly, in various fields within the capital markets, including trading in securities and financial instruments, investing in such instruments on behalf of clients and on its own behalf, brokerage services, and other financial activities both in Israel and abroad.
As a licensed investment marketer (as opposed to an investment advisor), the Company may receive benefits in connection with financial assets purchased for the client’s account.
The Company may prefer financial instruments to which it has a connection or affiliation, over similar instruments to which it has no such connection. It is clarified that under the Law, the Company’s affiliation with certain financial instruments shall not be deemed a conflict of interest between the Company and the client.
Additionally, entities within the Investment House may engage in the following:
Receive distribution, management, performance, and underwriting fees or commissions for securities acquired on behalf of clients through offerings in which the Investment House participates;
Be entitled to commissions for executing transactions in securities or financial instruments within the client’s portfolio;
Receive commissions or commission rebates from banks, third parties, or affiliated agents for services provided to the client within the client’s account or bank account;
Compensate their employees and/or representatives involved in marketing, mediation, or client services based on their contribution, out of management fees and/or other payments charged to the client for those services;
Engage in investment banking services and receive fees from third parties for facilitating transactions in securities or financial instruments—whether listed or unlisted—on or off the stock exchange;
Act as a distributor of securities offered to the public;
Hold or trade, directly or indirectly, in securities and financial instruments purchased for the client’s account, sold from the client’s account, or held in the client’s account, before, during, or after the execution of such transactions;
Maintain affiliated entities, and as a result, may have an affiliation with them. These companies may carry out transactions in securities issued by such affiliated entities, provided the transactions are executed based on professional judgment in the client’s best interest.
Dear Client,
If you were referred to the Company by an agent for investment marketing or portfolio management services, please note that the agent may be entitled to a fixed monthly commission out of the management fees charged to your account by the Company, as set out in your service agreement. This commission is for referring you to the Company and/or for services rendered or to be rendered by the agent.