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May 28, 2023
Israel: Regulating Payment Services and Payment Initiation
New provisions set out the licensing framework for the provision of payment services, designed to encourage new players to enter the Israeli market and offer payment services while providing broad protection to consumers. The law will apply to companies providing payment services, credit service providers, acquirers, and more.
May 28, 2023
European Union v. Facebook: EUR 1.2B Privacy Infringement Fine
An EUR 1.2 billion fine was imposed on Meta after the EDPB ruled the company was systematically transferring the personal data of millions of Facebook users from the European Union to servers in the United States in violation of the European GDPR.
May 24, 2023
Lecture: Positions and Interests in the Event of Insolvency
Adv. Idan Miller is lecturing in a small-business finance risk assessment course for credit coordinators and business bankers at Israel Discount Bank. The course was organized by the BDO Academy of Finance and the Israeli Institute of Finance (IFI).
May 21, 2023
Barnea: Advising Migdal on USD 100 Million Investment
Adv. Roy Engel, Adv. Yana Zilbershtein, and Adv. Yakov Vilenski advised Migdal on a USD 100 million investment in the real estate investment fund Exeter Industrial Value Fund EQT. More than 90% of the investors in the fund are American and international institutional entities. Migdal is the only Israeli investor.
May 18, 2023
Adv. Terry Almozlino Arnon Op-Ed: Supreme Court Rules to Invalidate Artificial Agreements
In a recent ruling, Israel's Supreme Court took a further step toward holding artificial agreements invalid and unlawful. An artificial agreement exists where there is a discrepancy between the parties' ostensible agreement, as reflected in the contract, and their true intentions. Adv. Terry Almozlino Arnon, head of our firm's Real Estate Department, examines the issue in an op-ed for Globes.
May 17, 2023
Investment Advice and New Technologies: Amendment to Israeli Directive
In order to contend with the meager supply of investment advice or portfolio management services via technological interfaces, the Israel Securities Authority has published a proposed amendment to the directive focusing on two main services: trading signal services and social trading. Both of these services rely on digital media.
May 17, 2023
The Legal Risks of Using ChatGPT
The legal issues that follow the use of artificial intelligence-based processing solutions will continue to challenge in the years to come. Meanwhile, the main questions are related to intellectual property, privacy and reliability.
May 17, 2023
Representing CryptoHub in USD 6 Million Fundraising Round
Adv. Itay Gura and Adv. Inbar Katzir advised Cryptohub, which offers crypto trading tools and innovations to improve the average crypto trader's experience, throughout the course of a USD 6 million investment round. The round was led by Tectona, the only public company that focuses its activities on the adoption of blockchain technologies.
May 16, 2023
Earn-Outs – Adv. Ariella Dreyfuss Op-Ed for CTECH
CTECH by Calcalist has published an op-ed by Adv. Ariella Dreyfuss, a partner in our International Corporate Department. Ariella explains that earn-outs are becoming an established tool for compromising on a company’s valuation.
May 15, 2023
Conference: The High-Tech Employment World
We hosted members of the Association of Corporate Counsel (ACC) for the conference, "The High-Tech Employment World." The conference focused on key issues in Israel's high-tech employment market and featured lectures on topics including non-compete clauses in employment agreements, the workforce as a critical element in the workplace, and more. Speakers included Adv. Micky Barnea, our firm's managing partner; Nani Maoz, Founder, Chairman, and CEO of Everest; and firm partners Adv. Harel Perlmutter, Adv. Netta Bromberg, Adv. Inbar Gorelick, and Adv. Amos E. Rosenzweig.
May 14, 2023
Israel: Suing Monopolies for Setting Unfairly High Prices
The regulations grant several new rights to the relevant data subjects, when the database contains information transferred from the European Economic Area (EEA) to Israel, including the data subject’s right to delete information and a broader right of review.
May 14, 2023
Israel: Information Transferred from European Economic Area
The regulations grant several new rights to the relevant data subjects, when the database contains information transferred from the European Economic Area (EEA) to Israel, including the data subject’s right to delete information and a broader right of review.
May 10, 2023
Delay in Delivery of Apartment – Waiver of Claims Clauses
To ensure the agreed arrangement is appropriate and does not include a waiver of the buyer’s cogent rights under Israeli law, several principles should be taken into account, such as if the agreement reflects a reasonable assessment of the inherent risks in the event of disputes between the parties.
May 10, 2023
Material Transfer Agreements: Why They Matter
IP can be tangible, and MTA agreements are there to determine the terms and conditions of their transfer and usage.
May 9, 2023
Adv. Gal Rozent Lectures at Annual Competition Law Conference
Adv. Gal Rozent, the head of our firm’s Antitrust and Competition Department, was invited to lecture at Haifa University’s annual competition law conference. Senior officials from the competition field and attorneys from Israel’s leading law firms attended.
May 9, 2023
Amendment to Israel’s Equal Pay Law – New Recommendations (2.0)
For employers that discover gender wage disparities in their organizations, the Equal Employment Opportunities Commission recommends taking action to appoint an implementation team comprised of both senior management representatives and employees, for the purpose of preparing a multi-year work plan to promote equal pay and reduce gender wage disparities.
May 8, 2023
Regulating the Israeli Crypto Market – Article in Calcalist
The Arrangements Law for 2023-2024 makes extensive reference to expanding and creating a regulatory infrastructure in the digital assets field. Specifically, the Israeli government refers to regulation in a number of different areas, including the cryptocurrencies market. See more in an article for Calcalist.
May 7, 2023
Israeli Registrar of Companies Increases Enforcement Measures against “Violating” Companies
Companies should promptly settle unresolved issues with the Registrar of Companies in order to avoid sanctions, fines, and difficulties obtaining credit.
May 5, 2023
Barnea: Hosting AI & Regulation Conference
Our firm hosted the AI Regulation conference, with the participation of Gilad Samama, head of the Israel Privacy Protection Authority, and other senior officials. The conference was held in collaboration with the International Association of Privacy Experts (IAPP) and the Israel-America Chamber of Commerce. At the conference, Dr. Avishay Klein, head of our firm’s Privacy, Cyber and AI Department, lectured on the regulation of artificial intelligence in Israel and around the world.
May 4, 2023
Israeli Court Rules Foreign Workers Not Entitled to Old-Age Pension
The Haifa District Court recently adjudicated on the rights to a pension of a group of foreign workers who had finished their employment and subsequently left Israel. The court determined, as a general rule, that a foreign worker who is not a resident of Israel is not entitled to old-age pension from the National Insurance Institute (NII). Adv. Amos E. Rosenzweig, a special of counsel at our firm and former general counsel at the NII, sheds lights on this issue in an article for Calcalist.