As the Obama administration continues to turn over every stone in search of revenue, Americans that have investment accounts with Israeli banks, have been asked to close their accounts. This was seen as a precaution taken by the local Israeli banks to avoid putting their U.S. banking licenses in jeopardy, ala UBS.
I was recently quoted in an article in Haaretz about this issue. Read article here.
It now appears that hidden in the depths of the new Hire Law, are a few clauses sharply tightening reporting procedures for Americans that have foreign investment accounts.
I will continue to update you as I gather more information.
Aaron Katsman is a licensed financial professional both in the United States and Israel, and helps people who open investment accounts in the United States. Securities are offered through Portfolio Resources Group, Inc. a registered broker dealer, Member FINRA, SIPC, MSRB, NFA, SIFMA. For more information go to www.aaronkatsman.com, or call (02) 624-0995 or email aaron@lighthousecapital.co.il.
