Capital Market Authority Warns Agents Over Altshuler Shaham Pension Transfers
Published
Israel's Capital Market Authority has sent warning letters to several insurance agents and a large institutional body after gathering evidence of allegedly misleading pitches urging customers to transfer pension and provident savings from Altshuler Shaham, Globes reported Tuesday. The pitches cited Altshuler Shaham's proposed sale to WeSure; a company filing says the transaction remains subject to regulatory approvals. The authority asked recipients to stop the conduct immediately and said improper advice can breach licensee duties. The report says no sanctions have been imposed, but further action remains possible. The letters were sent in recent days; their disclosure is new Tuesday.