Latest Updates

January 25, 2017

US Federal Trade Commission Investigating Allergan’s Generics Business

We interviewed by Globes after the Federal Trade Commission launched an investigation into a company affiliated with Teva.

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January 24, 2017

Draft Legislation Permitting Corporations to Obtain Loans Through Crowdfunding

Last week, the Israel Securities Authority published draft legislation for public comments that will permit corporations to obtain loans through crowdfunding with an exemption from the prospectus requirement.

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January 10, 2017

Micky Barnea in an Interview by Globes regarding Executive Pay in the Finance Sector and regarding Concessions from the Tel Aviv Stock Exchange and the Israel Securities Authority

Micky Barnea, our Managing Partner, was interviewed by Globes regarding executive pay in the finance sector. He also interviewed on concessions granted by the Tel Aviv Stock Exchange and the Israel Securities Authority. Micky commented that the Tel Aviv Stock Exchange and the Israel Securities Authority have granted a set of concessions to encourage more companies to go public. However, according to Micky, as regards the issue of regulation, the exemptions should be more significant.

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January 4, 2017

Globes Op-Ed: Restoration of Funds for Victims of Stock Manipulation

In an op-ed published in Globes, we discussed the restoration of funds for victims of stock manipulation, focusing on the question of whether the state is obligated to repay a portion of the fine directly to the victims through a distribution mechanism.

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December 29, 2016

Innovations in the Israeli Partnerships Legislation

In order to improve the Israeli partnership market and in order to bridge the wide gap that exists between partnership laws in Israel and the partnership laws in other countries, in December 2016, the Ministry of Justice published a draft Memorandum of Law – Partnerships.

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December 28, 2016

Annual Dun's 100-Globes Capital Markets Forum

We took part in the annual Dun's 100-Globes Capital Markets Forum, along with industry executives, the banking sector, leading investment houses, and insurance groups.

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December 26, 2016

Charges against Generic Drug Companies for Price Fixing

We were interviewed by Globes following lawsuits filed in the United States accusing generic drug companies, including Teva Pharmaceutical Industries, of price fixing. We commented that Teva is exposed both to a criminal charges and civil proceedings, and may ultimately be required to reach a settlement in both matters.

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December 18, 2016

First Conviction Pursuant to Israeli "FCPA" – Following the Footsteps of the US

On December 2016 for the first time in Israel, an Israeli company was convinced for bribing a foreign public official. This is especially interesting due to the fact that this is also the first time the general prosecution in Israel based an indictment on Section 291A of the Israeli Penal Law, that was enacted in 2008, in the course of Israel's efforts to join the OECD as a member country.

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December 12, 2016

Update on Binary Options - Regulation on Trading Rings

About a year and a half ago a new regulatory regime regulating trading rings entered into force, requiring the operators of trading rings to obtain a regulatory license as a pre-condition to operating them, and prohibiting the operation of a trading ring without such a license.

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December 5, 2016

Nochi Dankner, Former Chairman of IDB Group, Sentenced to Two Years

We were interviewed by several Israeli newspapers after Nochi Dankner was sentenced to two years' imprisonment following his conviction for stock manipulation. We noted that, unlike the verdict, which created the impression that Dankner would receive a harsher punishment, it appears that the District Court sought to impose a relatively lenient sentence that would nevertheless not prompt the prosecution to appeal.

Article from Israel Hayom

Article from Globes

Article from Funder

November 30, 2016

Regulation of Crowdfunding in the UK, US, and Israel: Comparative Review

We published a comparative review in Butterworths Journal of International Banking and Financial Law on the regulation of crowdfunding. The article examines how three jurisdictions—the United Kingdom, the United States, and Israel—have addressed the regulatory aspects of the equity crowdfunding sector, and compares the different approaches adopted by their regulators.

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November 23, 2016

Less Remuneration, More Responsibility

The issue of officers’ responsibility in general, and of directors in particular, is one of the key issues addressed in companies and securities laws in Israel. The subject has been deliberated, analyzed and gradually expanded over the years and, without doubt, onerous and extensive responsibility is imposed on directors in the current legal environment.

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November 16, 2016

Representing D.G.I Media Ltd. in Administrative Enforcement Settlement with Israel Securities Authority

We represented D.G.I Media Ltd. in a precedent-setting administrative enforcement settlement with the Israel Securities Authority concerning forex trading.

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October 13, 2016

Australian Stock Exchange to Israeli Tech Firms: Come List Down Under

We were interviewed by the Times of Israel about the growing interest of Israeli companies in listing on the Australian Stock Exchange (ASX). We noted that Australia is regarded as having a creative and sophisticated regulatory regime that strikes a good balance between investor protection and a pro-business approach that recognizes the risk of over-regulation.

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September 30, 2016

Barnea & Co. Represented the Private Equity Fund IGP Investment in Jacada

Barnea represented Israel Growth Partners (IGP) in an agreement to buy 300,000 Jacada shares, 7% of the company's share capital, from Robert (Bob) Ashton's investment firm Kinetic Catalyst Partners.

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September 25, 2016

Barnea & Co. represents Rafi Bar-Lev

Barnea represented Rafi Bar-Lev, former Salesman at the Israeli investment company Utrade of Aviv Talmor, whose operation was frozen by the Israel Securities Authority, at a hearing in the Tel Aviv Magistrate's Court.

Calcalist

Globes

September 15, 2016

Capital Markets 2016 – Virtual Roundtable

Corporate Live Wire held a capital markets roundtable featuring experts from around the world, including representatives from our firm. The participants discussed recent regulatory changes, global economic risks, cybersecurity challenges, and trends in capital flows.

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August 23, 2016

Officers’ Remuneration – Are New York and London Following TASE’s Lead?

Adv. Micky Barnea, Managing Partner at Barnea, was interviewed by Globes Dun's 100 on the emerging trend in the United States and England to adopt stricter corporate governance rules pertaining to director remuneration.

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August 1, 2016

Cellect Biotechnology Completes NASDAQ IPO

In July 2016, Cellect Biotechnology announced that it had completed its NASDAQ IPO, raising USD 8.4 million. Cellect Biotechnology will be traded on NASDAQin parallel with its listing on the Tel Aviv Stock Exchange. Barnea represented a group of US underwriters, led by H.C. Wainwright, LLC, in the process of submitting Cellect Biotechnology's prospectus for the listing. Cellect Biotechnology develops innovative technologies in the stem cells sphere.

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July 6, 2016

Hedge Funds Do Not Need Regulation

An op-ed in The Marker by lawyers from our Capital Markets Department argues that the harm caused by applying the regulatory regime for hedge funds far outweights any potential benefit and may even lead to the collapse of the entire industry.

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