Zohar Goshen is a world-leading and highly respected expert on corporate governance, securities regulation, anti-trust law and corporate finance. He is internationally credited with transforming corporate governance and market supervision in Israel during his tenure as the Chairman of the Israel Securities Authority (ISA).
Since 2011 he has been the Alfred W. Bressler Professor of Law, Columbia Law School, where his research continues in his field of expertise of corporate governance and securities regulation, and he has contributed articles to numerous Law Reviews and books.
During his tenure as ISA’s Chairman 2008-11, Goshen successfully managed the 2008 corporate bond crisis in Israel and the wave of corporate reorganisations that followed. He completely reshaped Israel’s corporate governance landscape by establishing a specialised court for corporate and securities law; adding administrative authority to the agency; enacting laws to deal with corporate self-dealing; developing and installing an advanced market surveillance system; and expanding disclosure regulations to protect bondholders as well. In 2010, the European Securities and Markets Authority (ESMA) recognised Israel’s high level of market supervision and regulation by declaring that prospectuses issued in Israel are equivalent to those of the EU, thereby allowing Israeli corporations to use their prospectus to issue shares in Europe. Israel is the first and only country to receive such recognition.
Prior to becoming Chairman of the ISA, Goshen had served as Chairman of the ISA’s Corporate Governance Committee in 2006, and all the recommendations in his committee’s report were adopted into law. His name even entered the Hebrew language as a verb – “to Goshen” meaning taking the necessary measures to conform to appropriate corporate governance standards. He had also previously served as Director at the ISA between 1995-1997, Director (for public interests) of the Israel Discount Bank 1997 – 2002, Chairperson of the Disciplinary Court of Securities Advisers and Portfolio Managers 1997 – 2000, Chairperson for the Israeli Ministry of Trade’s Committee for Re-evaluating the Israeli Antitrust Law, and a member of Israel’s Democracy Institute.
A highly respected academic, prior to becoming Alfred W. Bressler Professor of Law, Columbia Law School, he had been Phillip P. Mizock and Estelle Mizock Professor of Law at the Hebrew University of Jerusalem between 1991 to 2004.
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