Subject: Compliance with FATCA Regulation
The Foreign Account Tax Compliance Act (FATCA) is a US Regulation which requires all Foreign Financial Institutions (FFIs) across countries to identify and report all accounts owned by ‘US Tax Payers’ to the relevant regulators.
The US has partnered with over 120 countries (including Israel) by signing Intergovernmental Agreement (IGA) which makes it simpler as well as mandatory under local legislation for FFIs based in the partner countries to comply with the requirements under FATCA. You can also find more information about the IGAs at:
The IBI Group has registered all its FFI entities on the FATCA portal maintained by the Internal Revenue Service (IRS) and has successfully obtained unique Global Intermediary Identifier Numbers (GIIN) for each FFI entity. These have been listed on the IRS portal and can be accessed at:
IBI has prepared FATCA Self-Certifications (latest W8 formats released by IRS in 2016) for all relevant legal entities in the group. These have been uploaded to the IBI’s website and can be accessed here:
|SR NO.||REGISTERED ENTITIES||GIIN||TAX FORM||FATCA Classification|
|1.||I.B.I. - Amban Asset Management LTD||-||W-8BEN-E||Nonreporting IGA FFI|
|2.||CFX markets LTD||-||W-8BEN-E||NFFE affiliate of a publicly traded corporation|
|3.||Poalim I.B.I. Underwriting & Issuing LTD||-||W-8BEN-E||NFFE affiliate of a publicly traded corporation|
|4.||Israel Brokerage and Investments I.B.I. LTD||5TXBF9.00000.LE.376||
|Reporting Model 1 FFI.|
|5.||I.B.I. Investment House LTD||-||W-8BEN-E||Publicly traded NFFE|
|6.||Pleshet Investments LTD||-||W-8BEN-E||NFFE affiliate of a publicly traded corporation|
|7.||I.B.I. GEMEL provident funds||-||W-8BEN-E||Exempt retirement plans|
|8.||I.B.I. severance fund||RA148T.00002.SF.376||W-8BEN-E||Nonreporting IGA FFI|
|9.||I.B.I. IRA Study Funds||RA148T.00003.SF.376||W-8BEN-E||Nonreporting IGA FFI|
|10.||I.B.I. Study Funds||RA148T.00001.SF.376||W-8BEN-E||Nonreporting IGA FFI|
|11.||I.B.I. GEMEL LTD||RA148T.00000.SP.376||W-8BEN-E||Certified deemed-compliant investment advisors and investment managers|
|12.||Orot Investments LTD||-||W-8BEN-E||NFFE affiliate of a publicly traded corporation|
|13.||I.B.I. four seasons LTD||-||W-8BEN-E||
NFFE affiliate of a publicly traded corporation
|14.||Poalim I.B.I. - Managing & Underwriting LTD||-||W-8BEN-E||
Publicly traded NFFE
|15.||I.B.I. Secured Bridge Loans LP||EUS1VG.99999.SL.136||W-8IMY||Participating FFI|
|16.||I.B.I. ILS Partners LTD||-||W-8BEN-E||NFFE affiliate of a publicly traded corporation|
|17.||I.B.I. GEMEL investments funds||RA148T.00004.SF.376||W-8BEN-E||Nonreporting IGA FFI|
|18.||I.B.I. ILS Fund LP||Q10AH1.99999.SL.136||W-8IMY||Participating FFI|
Broad – based offering – We are a subsidiary of I.B.I. Investment House and as such we have access to the full range of services and solutions that our parent offers.
What we do?
Among the services we offer are:
Accurately assessing the value of a potential acquisition target is central to the success of any such transaction. Our service covers the following:
For further information please call our investment banking services manager Adi Scop on: +972 3 5193867
Or email him at: email@example.com
Our brokerage unit, Israel Brokerage & Investments, is Israel's top independent broker and has a been member of the Tel Aviv Stock Exchange (TASE) and the stock exchange clearing house since 1973, It became a member of the market's Derivatives Clearing House in 2014 and joined the Euroclear clearing network at the beginning of 2015.
We provide bespoke brokerage services to most of the leading financial institutions in the Israeli capital market as well as many of the international brokerage firms operating in Israel. Clients can choose either a full suite of custodian services (including dealing and research) or receive direct market access.
In July 2015 we merged with the brokerage services arm of Migdal, one of Israel top leading insurance and financial services groups.
The merger between our stock exchange members leverages the synergies between the different operations of our two firms significantly expanding our depth, expertise, and reach.
Our dealing room has a number of dedicated trading desks, each of which focuses on a specific area. These include derivatives, bonds and short - term notes, and TASE - quoted equities, foreign bonds and equities quoted on overseas markets.
Each trading team is supported by analysts who cover the specific trading area drawing on real time data and information from a host of different sources worldwide, cutting - edge trading systems and advanced algorithm software.
Clients dealing through our desk are provided with all the information they need: Structured analysis, company announcements, feedback on results, macroeconomic developments, global market news and investment and trading ideas. All our desks are manned by experienced traders with a comprehensive background in their respective areas and around 10 years' capital market experience.
Among the other services we offer are market making, employee benefit plan management, on-line trading services and investment banking.
The scope of the IBI research offering is broader than the standard at most of the institutions active in the Israeli capital market. We offer qualified clients research on the broadest range of issues possible from global macroeconomic trends and recommendations regarding country - specific exposure to sector - wide research and fundamentals analysis of specific companies.
Our research team includes a chief economist and a global markets strategist, both of whom are highly experienced and have a fundamental understanding of the areas they cover. Allowing our team members to concentrate on a specific area or sector enables us to deliver added value across our entire coverage universe.
IBI has a full range of monitoring functions in place covering issues such as internal auditing, compliance, risk and credit management and information security. All functions carry out regular and periodical audits and reviews to ensure that both operations and our staff comply with accepted procedures. Our risk audit department operates in accordance with regulatory decisions and directives and is responsible for overseeing the identification, measurement and management of risk at both the operational and financial level. It delivers this through the use of computerized data analysis, spot checks, issue - specific projects and other methods to identify, mitigate and monitor risk and exposure levels. We also ensure our auditing practice complies with SOX requirements.