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November 20, 2024
Licensing and Supervision of Broker-Dealers: Key Points of the New Memorandum of Law
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.
November 20, 2024
Dun's 100 Forum for Leading Labor Law Experts
Adv. Netta Bromberg was invited to join the Dun's 100 panel of leading legal experts in labor law. The panel focused on key issues in the employment world, including the workforce crisis, labor disputes, and other challenges impacting the labor market and legal relations.
November 19, 2024
Representing 100 Apartment Owners in a TAMA 38 Insolvency Case
Advs. Idan Miller and Hadar Eilon represented 100 apartment owners in a Tama 38 project in Holon, in which the development company entered insolvency proceedings. They guided the residents through a mediation process that resulted in an agreement safeguarding the residents' rights and securities without requiring any additional payment. The agreement also paved the way for resuming construction on the project. The mediation agreement, which included commitments from new apartment buyers (not the firm's clients) to inject ILS tens of millions into the project to fund its completion, was approved by the district court.
November 13, 2024
Deadline for NPOs to File 2023 Annual Reports Extended
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.
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 firm's Tax Department, 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 Adv. 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, Adv. Inbar Gorelick, 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 purchase tax for investors, currently set at 8%, as part of the Arrangements Law for 2025, which has led to strong opposition from contractors. Adv. Maya Carmi from our firm was interviewed by Yedioth Ahronoth and stated 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 Rulings a Week": Representation in Appeal over Tender Rejection
Globes' "Three Rulings a Week" section selected the Supreme Court's decision to annul a tender for public transportation services in the Golan, 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, who represented Superbus, which was declared "second qualified" in the Supreme Court appeal, stated, "We are pleased the Supreme Court emphasized the importance of maintaining the integrity of the tender process. However, we regret that it did not establish 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 Most Significant Legal Rulings in Real Estate for the Jewish Year
The Real Estate Center interviewed leading legal experts in the real estate field, including Adv. Terry Almozlino Arnon, head of our firm's Real Estate Department, on 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 Supreme Court’s zero-tolerance stance toward such conduct.
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 ILS Hundreds of Millions 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 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.
October 1, 2024
Tax Innovations in Israel in 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.
September 30, 2024
Interview with Eyal Nachshon: When Should You File a Class Action Against an Airline?
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 Israel's 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 GCS 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 the firm's Dr. Zvi Gabbay and Adv. Anat Even-Chen, along with CPA Julie Raboy, who delivered a lecture on the technological adjustments required in light of the law.