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With Amir Helmer

Finance Minister Silvan Shalom on Tuesday appointed Moshe Terry as chairman of the Israel Securities Authority.

The appointment followed the approval of the Ravivi Committee, which vets top civil service appointments.

However, the panel chief, retired justice Yitzhak Ravivi, wrote to Shalom asking him to reconsider Terry's appointment.

"The candidate has the requisite skills set by law", Ravivi wrote, but Terry's candidacy should be reconsidered anyway, as requested by the attorney-general and the state prosecution.

The state prosecution was mulling reopening a decade-old case involving businessman Joseph Hackmey, who was found guilty of defrauding the state's Investment Center regarding his pharma plant in Beit She'an.

Hackmey's business manager, Eli Zilber, told the police that Terry then the manager of the Investment Center asked him to contribute NIS 5,000 to the Maccabi She'arim soccer team.

Terry confirmed that had had solicited the contribution, but pointed out that the Hackmey plant had received subsidies from the Investment Center before his term in office. He also said he was not associated with the soccer club in question. The police recommended filing charges against him, but the prosecutor, Dorit Beinisch, settled for a reprimand.

In any case, Shalom disregarded the suggestion that he rethink Terry's nomination.

Terry replaces Miri Katz, who served as the ISA's chairman for five years.

Terry, 52, has a BA in economics and political science, and a Master's in economics and business administration. He is married with three children.