Internship, Prisma style: Do marketing while you learn
The Israel Securities Authority has a beef with the private equity fund Markstone and its investment arm, Prisma. Two, actually.
Watchdog chief Moshe Tery summoned two dignitaries from the group, Prisma CEO Dov Kotler and Markstone co-founder Ron Lubash, to his offices for clarifications on both.
The first was the ISA's discovery that instead of teaching registered interns in investment management the business - Prisma was employing them in marketing. Under the law, investment management interns are prohibited from engaging in marketing.
The second issue involved freebies for investment advisers: the complaint related specifically to lunch invitations at top-tier restaurants. The law bans perks for investment advisers, not that Prisma is the first to break that rule, if it did.
Prisma said that it does not comment on its relations with the ISA.