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November 12, 2024
EU's New Guidance: Travel Rule to Combat Money Laundering in Crypto
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.
November 11, 2024
Curaçao’s regulatory reform in gaming licensing
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
November 7, 2024
Navigating Tax Challenges in Startups
In an article for B'Chadrei Charedim, Harel Perlmutter, Head of the Tax Department at our firm, highlights how strategic planning can help minimize costs and optimize financial outcomes.
October 30, 2024
Why FemTech Could Be Entrepreneurs' Next Big Investment - An Op-Ed by Attorney Inbar Gorelick
The FemTech sector is experiencing significant growth in Israel, with over 100 active companies and a projected increase of billions of dollars in the global market over the coming years. In an op-ed for People and Computers, attorney Inbar Guralik, who specializes in representing companies in this field, explains the vast potential of FemTech and the need for greater recognition of the industry alongside fields like cyber and artificial intelligence.
October 30, 2024
Amendment to Income Tax Rules on Employee Equity
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.
October 27, 2024
Extension of Purchase Tax for Investors - Interview with Maya Carmi
The Ministry of Finance intends to extend the purchase tax for investors, currently set at 8%, as part of the Arrangements Law for 2025, which has led to strong opposition from contractors. Attorney Maya Carmi from our firm was interviewed by Yedioth Ahronoth and stated, among other things, that the purpose of freezing the tax rate is to disincentivize investors from purchasing apartments, thereby increasing the supply of available apartments and reducing prices, which would allow young couples and people from lower socio-economic backgrounds to buy homes.
October 27, 2024
"Three Judgments a Week" by Globes: Representation in Appeal Regarding Tender Rejection
In the "Three Court Rulings a Week" section, the ruling in which the Supreme Court annulled a tender for public transportation services in the Golan was selected, due to a conflict of interest involving a lawyer who advised the tender committee while also providing legal counsel to the winning bidder. Adv. Eran Winner, representing Superbus, which was declared "second qualified" in the appeal to the Supreme Court, stated: "We are pleased that the Supreme Court emphasized the importance of maintaining the integrity of the tender process. However, we regret that it was not established as a precedent that the entire tender should be annulled; rather, only the winning bid was disqualified, and our company was declared the winners of the tender as 'second qualified.'"
October 15, 2024
New Court Ruling Clarifies Legal Boundaries for Offering of Foreign Investments in Israel
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.
October 14, 2024
Taxing of apartment purchases in buildings slated for demolition
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.
October 11, 2024
Summary of the Most Significant Legal Rulings in Real Estate for the Jewish Year
The Real Estate Center interviewed the leading legal experts in the real estate field, including Adv. Terry Almozlino-Arnon, head of our Real Estate Department, regarding the most significant rulings of the year in planning, construction, and urban renewal. Terry highlighted a Supreme Court ruling focused on contracts made with apparent intentions and the Court’s zero-tolerance stance towards such conduct.
October 10, 2024
Tax innovations in Israel during 2024
Over the past year, alongside handling the economic repercussions of the war and issuing financial assistance to war victims and to evacuees, the courts, the legislative authority and the Israel Tax Authority continued their efforts in the legislative arena and issued several significant tax rulings. Following are the most important innovations relating to income tax, real estate tax and VAT.
October 10, 2024
Retail Fintech 2024: Key Trends and Growth Insights
Venture capital investments in the retail fintech sector rebounded significantly during the second half of 2024, with investments reaching USD 4.5 billion. PitchBook’s latest report indicates that the market is identifying new opportunities in companies focusing on the retail sector and is introducing refreshing innovations in retail. The report presents several interesting insights and findings and provides an in-depth perspective on the retail fintech sector and its impact on the retail industry.
October 9, 2024
Appeal Rejected – Coca-Cola Expected to Pay Hundreds of Millions of NIS to the State
Adv. Hanna Daher, a partner in our firm’s Tax Department, describes in an op-ed for N12 the precedent set by the court's ruling in the Coca-Cola case. Hanna notes that this decision could prompt Israeli companies to reassess their agreements and contractual arrangements with foreign entities.
October 9, 2024
Understanding DORA: An Overview of the Digital Operational Resilience Act
The Digital Operational Resilience Act (DORA) is an EU regulatory framework, aimed at enhancing the financial sector’s ability to withstand and recover from ICT (information and communication technology) disruptions.
September 30, 2024
Interview with Eyal Nachshon: When should you sue the airline in a class action?
Eyal Nachshon, an expert in class actions, was interviewed by Globes following the recent rise in motions to certify class action, mainly due to the escalation in the security situation. Among other things, Eyal noted: "Nowadays, people tend to rush to file lawsuits in order to be first in line, but it’s important to stop and consider whether this is the right legal tool for their specific case."
September 24, 2024
Webinar: Payment Services Law – More Relevant Than You Thought
Our firm hosted a webinar in collaboration with the GCS organization for legal advisors, focusing on the Payment Services Law. The webinar was designed for legal advisors in companies within the financial and service sectors. Presenting at the event were our lawyers, Zvi Gabbay and Anat Even-Chen, along with CPA Julie Raboy, who delivered a lecture on the technological adjustments required in light of the law.
September 22, 2024
Important updates on the Israeli money market reform
The Israel Securities Authority has published several additional revisions to the Israeli money market reform since the Knesset approved legislative amendments designed to promote competition in the money market, and since the draft directives and rules were published approximately two months ago. The money market reform relates to money market mutual funds, deposits and government bonds (short-term loans maturing in no more than one year).
September 22, 2024
New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders
The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment companies and holders of basic initiation licenses or approvals are required to submit annual, semi-annual, quarterly, and immediate reports on various topics, such as audited or reviewed financial data, operational data, compliance with capital requirements, technological measures, corporate governance, compliance etcetera.
September 18, 2024
Dr. Avishay Klein in TheMarker on the importance of implementing an AI policy in public companies
As an expert in the field of artificial intelligence, Dr. Avishai Klein referred to the need for public companies to formulate an artificial intelligence policy. As per his advice, companies with a clear policy, transparent reporting, human supervision and proper management, can retrieve the most out of those technologies, increase the trust of investors and customers, and reduce risk.
September 18, 2024
Regulation in the 2024: A Summary of Key Changes and Outlook for the Future
Several statutory arrangements and regulatory guidelines have been published thus far during 2024, particularly in relation to the capital market, the financial sector and privacy protection, as well as various circulars addressing corporate governance and risk management, with the objective of increasing certainty for businesses and for the public as a whole.