By Candice Krieger, June 11, 2009
Hundreds of financial regulators were in Israel this week for the International Organisation of Securities Commissions conference.
Leading the delegation from the UK was Shmuel Ben-Tovim, economics minister at London’s Israeli Embassy.
He said: “Choosing Tel Aviv as the venue for the conference is a tribute to the regulatory sysem in Israel, which was able to keep our banking industry away from global turbulences. The Israeli taxpayer has not been required to spend a single penny in bailout of banks.”