The Underwriting Unit of the Corporate Finance Department is in charge of supervision and regulation of underwriting and of the various players in this field.
Generally, the Underwriting Unit’s tasks include overseeing underwriters’ compliance with the qualification requirements defined in the Securities Law and its regulations, and reviewing the immediate and annual reports filed with the ISA by underwriters. Furthermore, Unit staff members monitor issues related to underwriting, particularly in respect to public offerings of securities, and provide pre-rulings on underwriting issues. The Unit also initiates or is involved in law making on underwriting issues, to support the regulation of the underwriting process or market development. The Unit’s oversight functions include the identification of violations of the law and referrals to the ISA Administrative Enforcement Department.
