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In October 2019, Israel’s Ministerial Committee on National Security Affairs (the National Security Cabinet) decided to devise a mechanism for scrutinizing foreign investments in Israel. At the mechanism’s core is the “Advisory Board for Evaluating National Security Aspects of Foreign Investments.”
The risk of money laundering is one of the main risks involved in using and trading cryptocurrencies. This amendment to Proper Conduct of Banking Business Directive 411 addresses how banks should manage money laundering and terror financing risks.
The Amendment will become effective on June 1, 2022. Under this amendment, an employee suffering from a malignant disease or a condition that requires regular dialysis, or who recovered from such a disease, is eligible for full sick pay (100%) from the first day of his or her absence
The striking innovation in this draft bill is that, upon its enactment, monopolists, even if not declared as such, must publish their financial statements, even if they are not reporting companies.
The Supreme Court issued a ruling in principle that it sees no merit in the approach of releasing a person who breached the law from criminal liability based on the fact his or her lawyer failed to warn that the planned action was criminal.
At the end of March 2022, the Israeli Ministry of Justice published a draft amendment to the Prohibition on Money Laundering Law. The proposed amendment seeks to grant supervisory authority to the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA), comparable to that of the Capital Market, Insurance and Savings Authority (CMISA), over financial service providers for aspects of the prohibition on money laundering and terror financing.
According to a new ISA legal position, convening a general meeting of shareholders to vote on a public company’s appointment of an independent auditor requires expanded disclosure.
The new format heralds a reduction in the volume of transactions that require reporting. However, it imposes a far heavier burden on parties to transactions that do require reporting, even for mergers posing no competitive concerns.
An amendment to the Employment of Women Law, which went into effect on March 14, dictates that employers may not refuse to hire women or single parents simply because they do not agree to work night shifts due to family considerations.
Until now, only foreign funds from a limited number of foreign exchanges have been able to register for trading in Israel. A Ministry of Finance amendment to the relevant regulations seeks to change this.
Elon Musk declared he would build a Tesla manufacturing factory in Germany in as early as 2019. The factory only obtained a license to operate now. The German regulator, environmental protection organizations, and Russian President Vladimir Putin all played a part.
From "low" to "moderate" risk of money laundering: the Cayman Islands Monetary Authority's classification change and its impact on Israel.