Daily Israel Report
12:42
Reported

News Brief

  6/11/2012, Sivan 21, 5772

Committee Approves Financial 'Haircut' Law


The Knesset Constitution, Law and Justice Committee approved, Monday, a bill which is intended to serve the public interest by requiring a court-appointed inspector to make sure financial institutions that manage pension savings of the public do not agree to debt arrangements serving the purposes of leveraged financiers at the expense of savers' interest.

The bill now goes to the Knesset for its second and third readings before the end of the summer session.