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July 7, 2020
Banks Required to Share Information about Clients with Other Financial Bodies
As part of a broad change led by the Ministry of Finance to increase competition in the banking and financial services market, a memorandum for the Provision of Financial Information Services Law was recently published for public comments.
July 6, 2020
Israel: How to Identify Suspicious Use of Virtual Currencies
Prompted by the use of digital currencies to fund terror and other illegal activity, the Israel Money Laundering and Terror Financing Prohibition Authority has published a document aimed at assisting financial bodies and law enforcement agencies to identify improper activity in this field.
July 5, 2020
A Solution for Infrastructure Project Delays Is Also Needed
At the end of June, the Ministry of Construction and Housing announced that due to the coronavirus crisis the time in which a contractor can delay delivering an apartment without being sanctioned will increase to 100 days. Adv. Shai Avnieli, a partner in our Infrastructure Department, published an opinion article in Globes on the subject. He commented: "This decision, which stems from a desire to solve this complex issue, is indeed welcome. However, although this decision has a significant impact on the construction market in Israel, it does not fix the issues of the construction market as a whole, particularly not the infrastructure sector."
July 2, 2020
Taxation of Hedge Funds in Israel – A Short Guide to the Perplexed
A hedge fund is an entity comprised of several investors seeking to invest in financial assets to achieve a common profit, where the execution of the investment may change from one fund to another, in accordance with the investment strategies put in place by the fund manager.
July 1, 2020
What to Do When a Tenant Stops Paying Rent
Monday’s episode of “Exposure,” a leading Israeli investigative television program, focused on tenants who rent luxury properties but then stop paying rent and refuse to vacate. The episode featured interviews with members of the prominent Refaeli family, who alleged that their tenant had failed to pay rent. Following the broadcast, host Haim Etgar interviewed Adv. Liat Keisary, a partner at our firm who advises high-net-worth clients on renting out their properties. Liat explained what to consider before renting out a property, how to respond when a tenant refuses to pay, and how to reduce the risk of such situations.
July 1, 2020
Israel – How Your Business Can Avoid the Dramatic Increase in Accessibility Class Actions
Recently, there has been a dramatic increase in the enforcement of accessibility issues in Israel. More and more companies are facing requests for certification of class action suits for failing to make services accessible to people with disabilities. Such proceedings, exempt from court fees, are initiated by lead plaintiffs against big and small organizations, from both the private and public sectors.
July 1, 2020
Lawsuit Filed Against Moshe Hogeg Alleges Fraud in Stox Fund Raising
Our firm is representing a Canadian citizen in an ILS 5 million lawsuit against Moshe Hogeg, a prominent Israeli entrepreneur in the cryptocurrency sector. Our client alleges that the defendants used funds raised by Hogeg’s company, Stox, for personal purposes and breached their obligations to investors.
June 30, 2020
New and Important COVID-19 Guidelines for the Israeli Labor Market
The State of Israel continues to cope with the COVID-19 crisis and its implications for the workforce. In recent days, new and important guidelines were updated for the Israeli workforce’s handling of the coronavirus crisis
June 28, 2020
Down Round Fundraising – Not At Any Valuation
A recent decision by the Economic Division of the Tel-Aviv District Court has emphasized the requirement for officers and decision makers in a company, to undertake a stricter review standard when making decisions, especially in conflict of interest situations. Accordingly companies must now increase the scrutiny on the decision making of directors in private companies, an important decision in light of the current economic climate.
June 24, 2020
New Capital Raising Channels to Be Made Available on the Tel Aviv Stock Exchange
The Israel Securities Authority has approved expanding the trading activity conducted on the trading platform for institutional investors of the Tel Aviv Stock Exchange (referred to as TACT), so that additional types of securities may be issued and traded on it.
June 24, 2020
How Trump's Work Visa Freeze Will Affect Israeli High-Tech
US President Donald Trump suspended on Monday the entry of certain foreign workers until the end of the year. Adv. Netta Bromberg, the head of our Employment Department, was interviewed by Calcalist about this latest development. According to Netta, "This decision is a long-term violation of the globalization process as we have known it in recent decades. Israeli startups looking to expand in the US will need to search for local workers and to recalculate what their business models should be.”
June 23, 2020
Companies' Collection of Personal Data
Globes has published a comprehensive article on technology solutions relating to the relationship between property lenders and tenants. We were interviewed as part of the article about the privacy of such platforms' users.
June 22, 2020
Barnea Represents Cyberx Shareholder in Microsoft Acquisition
We represented Inven Capital, a Czech-based VC fund and a shareholder in Cyberx Israel, an Israeli IoT ICS cybersecurity startup, in Cyberx's sale to Microsoft for USD 165 million. CyberX has gained tremendous customer growth, with a number of leading companies using its IoT security platform to protect their web facilities. Cyberx has raised about USD 48 million since its inception in 2013. This is Microsoft’s eighth acquisition in Israel in the last decade.
June 21, 2020
Israel Takes US Approach in Enabling Affordable Fast Track to Register Provisional Patents
A new, welcome initiative by the Israel Patent Office intends to allow entrepreneurs, through a preliminary and fast-tracked process, to submit an application for the provisional registration of a patent. This is a significant step, which could revolutionize entrepreneurial innovation in Israel and make it easier on many Israelis who wish to protect future patents. In the course of the fast-track process, the application is not considered for a year, and applicants are able to set an early submission date for the patent's registration.
June 21, 2020
Crowdfunding Regulation in Israel
In a short video, we explain the crowdfunding model, which has become an attractive channel for both investors and companies seeking funding, and overviews current regulation in Israel.
June 17, 2020
Adjustments to Required Disclosures in Reports in Light of the Coronavirus
Several weeks ago, the Israel Securities Authority published a staff position paper on the consequences of the coronavirus crisis for the disclosure and financial reporting included in the 2020 first quarter report.
June 17, 2020
HR Considerations When a Foreign Company Wishes to Work in Japan
Adv. Netta Bromberg, head of our Employment Department, will join a panel in a webinar on HR considerations when employing staff in Japan. Hosted by the Israel-Japan Chamber of Commerce in collaboration with GoGlobal Ltd, the webinar is designed for Israeli companies planning to establish operations in Japan, as well as those already operating there and considering relocating Israeli employees to their Japanese offices.
June 14, 2020
Tax Considerations for Returning Residents to Israel
Adv. Harel Perlmutter will speak at a webinar hosted by the nonprofit Toshav Chozer on tax considerations for residents returning to Israel. The coronavirus pandemic has added new complexity to an already challenging decision. Harel will discuss the tax rights and benefits available to returning residents.
June 9, 2020
Facing A Criminal Investigation? Why It's Important to Consult an Attorney Beforehand
Facing Criminal Investigation? Why It Is Important to Consult an Attorney Beforehand
June 8, 2020
CardiacSense Signs USD 32M Deal to Sell Watches in India
Our firm advises Cardiac Sense, a startup that has developed a medical watch for remotely monitoring patients’ vital signs and detecting fever and chronic diseases, on all legal matters. We recently assisted the company with an agreement worth more than USD 30 million to supply medical watches to hospitals in India.