Panel stalls on approving Moshe Terry as alpha securities watchdog

The Ravivi Committee yesterday balked at approving Moshe Terry as chairman of the Israel Securities Authority.

The committee asked Terry for clarifications concerning his required dissociation with his private business, and his Likud party affiliations. The information will be provided in the coming days.

The Ravivi Committee had approved Terry's appointment as a Securities Authority director in January. It has now been given the same detailed resume it received then to approve his appointment as chairman.

Following his retirement from the post of director-general of the Postal Authority in early 1999, Terry has been a partner in private companies specializing in technology, cellular communications and call centers as well as an employment agency.

Even before he was appointed director-general of the Investment Center in 1989, he had detached himself from Likud political activity and he has not attended Likud Central Committee meetings in 13 years.

Terry was recommended by Finance Minister Silvan Shalom, who has recently expressed complete faith in Terry and confidence he will succeed in waking the capital market from its coma.

Tel Aviv Stock Exchange CEO Saul Bronfeld has praised Terry's expected appointment.

According to Bronfeld, it is wise to appoint a professional who knows the capital market very well. In his opinion, there is no concern the authority will become politicized both because of Terry's personal integrity and because the authority is structured to ensure objective professional opinion.

Terry's comment was unavailable for this report.

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