Client updates

A new Supreme Court ruling overturns lower courts’ rulings and regulates the application of the “successive heirs” provision of the Succession Law, in instances when a surviving spouse who inherited property by virtue of a mutual will changes his/her will after the spouse’s death.

As of January 1, 2025, the Israeli Privacy Protection Regulations (Instructions for data being transferred to Israel from the European Economic Area) will also apply to data being stored or processed in Israel or in other countries, such as the US and the UK, if these databases also contain data transferred from Europe. In other words, this means that as soon as a database in Israel or another country also contains personal information transferred from Europe, all data in the database must comply with the regulations’ requirements – not just the data that came from Europe, but also the local data or data that came from other countries.

A recent amendment to the Planning and Building Law came into effect, introducing changes to the appeal process for betterment levies.

Recent fines issued in New York are part of a wider trend of stricter state-level enforcement on cybersecurity in the U.S. Israeli companies operating in the U.S. are required to stay informed.

A new amendment to the Israeli Wage Protection Law allows employees to request that their employers transfer their salary to a wider range of entities.

The Israel Securities Authority published a position statement recently addressing various issues pertaining to brokerage activities and offerings of joint investment arrangements, including the applicability of the Regulation of Investment Advice, Investment Marketing and Portfolio Management Law (“Advice Law”) and the Joint Investment Trust Law to these activities.

The Israel Securities Authority recently published a staff legal position addressing the licensing requirements for businesses operating in the “Buy and Sell” or “Reseller” model in online marketplaces.

In a precedent-setting ruling handed down recently, the National Labor Court ruled that sales commissions must be included in wages for the purpose of calculating sick pay, vacation pay, pension contributions and overtime pay.

Recently, the issue of price tagging in supermarkets and grocery stores has gained attention. This follows a public consultation issued by the Consumer Protection and Fair Trade Authority seeking input on transitioning to digital price displays as part of the “What’s Good for Europe is Good for Israel” reform.

The Director-General of the Israel Competition Authority recently imposed a pecuniary sanction of an unprecedented amount, approximately ILS 111 million, on Strauss and Wyler Farm. This was due to what the Director-General deemed a “de facto merger” carried out before receiving the required approval, in violation of the Economic Competition Law. Strauss was subject to […]

The Israel Tax Authority and the Ministry of Finance have published a memorandum of law to regulate the digital asset sector in Israel.

This month, an interim report on artificial intelligence (AI) in the financial sector was published for public comment. The report was written by the Ministries of Justice and Treasury, the Competition Authority, the Securities Authority, the Capital Market Authority, and the Bank of Israel.

The Israel Tax Authority (ITA) published a new directive a few days ago that updates the rules for persons classified as disabled, blind, or injured during Israel’s various wars, and families of fallen soldiers.

In October of this year, the Israel Securities Authority published a memorandum of law aimed at regulating broker-dealer activities in Israel. Public comments will be accepted until 21/11/24.

Due to the Swords of Iron War and the state of emergency, the Registrar of Amutot and Endowments published a new directive extending the deadlines for NPOs to file their 2023 annual reports in order to enable them to obtain a Certificate of Proper Management for 2025.

After the Markets in Crypto-Assets Regulation (MiCA) entered into force in June 2024, a significant step took place last July with the publication of the European Banking Authority (EBA) final Travel Rule guidance.

Curaçao, renowned as one of the most popular jurisdictions in the online gaming industry, is launching a significant reform in its licensing and supervision of gaming companies. This reform is part of a broader legislative process

On September 17, an amendment to the Income Tax Rules (Relief in Issuance of Shares to Employees) was officially published, approximately 20 years from the last amendment. The amendment will enter into force on January 1, 2025 and will mainly affect the processes of approving equity incentive plans and of reporting to the Israeli Tax Authority.

The Tel Aviv District Court handed down an important ruling recently regulating the activities of entities distributing alternative investments in Israel. In many instances, the distribution activities are accompanied by conversations and correspondence with potential investors, which constitute investment advice, and this is where matters become complicated.

The district court’s position in its recent ruling in the Ahuzat Allenby Ltd. case has significant implications for investors, developers and private individuals who purchase apartment buildings slated for demolition and are looking to change the zoning of the purchased properties.