Client updates

As part of proceedings brought by activist shareholders of Nano Dimension, the District Court ruled that ADS (American Depository Share) holders should be treated as shareholders of the company. The significance of this ruling in Israel: boards of directors will be precluded from relying on ADSs to try and block activist shareholders’ campaigns.

The ongoing Swords of Iron War has severely disrupted the construction sector, including severe manpower shortages and intermittent construction site closures, resulting in delayed apartment delivery dates across numerous projects. Legal Framework Governing Apartment Delivery Delays The Sale Law (Apartments) of 1974 adopts a paternalistic approach to protect apartment buyers. Its provisions are cogent, meaning […]

The Israel Securities Authority recently updated the amounts that an individual investor must have in order to be deemed a “Qualified investor.” This update applies solely to investors who are individuals and not to companies.

Israel began 2025 with a series of labor law amendments and updates. Following are highlights of relevant amendments and innovations.

Recently, the Israel Securities Authority (ISA) published draft rules regulating entities’ notice of exemption from the obligation to obtain a license to provide payment or payment initiation services.

Last month, the State Attorney-General and the Israel Securities Authority published their positions with regard to the overruling mechanism.
The context relates to the requirement for public companies and private companies with publicly traded debentures to adopt and comply with a remuneration policy governing the terms of office and employment of their officers.

The Director-General of the Israel Competition Authority has announced her intention to impose a significant fine on the Ofer Avnir Group. This is the first time that the Israel Competition Authority is enforcing the new provisions added to the Competition Law in 2023, which prohibit harm to parallel imports to Israel.

The Israel Securities Authority recently published a legal staff position aimed at clarifying the applicability of the Payment Services and Payment Initiation Regulation Law to activities conducted within trust/escrow accounts. The position outlines interpretative tools to differentiate between payment services that require licensing, and activities exempt from such requirements. Normative Framework The Payment Services Regulation […]

Several days ago, the European Data Protection Board (EDPB) adopted an opinion addressing key data protection concerns arising from the use of Artificial Intelligence (AI) models. The opinion specifically focuses on how GDPR principles apply to AI, emphasizing issues such as anonymization of data within AI models, the legal basis for processing personal data during AI development and deployment, and the consequences of unlawful data processing in AI systems.

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.