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Insights & News / Ori Rodriguez
Revolution in Electronic Promissory Notes – Court Recognizes Digital Notes
Legislative updates for regulated financial service-providers – inception of the Financial Information Service Law
ISA Issues Draft Rules on Licensing Exemptions for Payment Services
Regulated payment services & financial services in Israel – 2025 summary & outlook
2024 was characterized by a multitude of regulatory directives to payment companies and to payment initiation companies as part of the preparations for the licensing obligation that came into effect in June 2024.
Applicability of Payment Services and Initiation of Payment Law in Trust Frameworks
"Buy-Sell" Model (Reseller) Activity Exempt from Payment Services Licensing
Price tagging requirement continues to be a mandatory obligation
New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders
The Consumer Protection and Fair-Trade Authority: businesses are required to disclose changes to product characteristics or components.
Regulatory highlights for small and medium-sized businesses
There has been a growing outcry recently against the ease at which class actions alleging a variety of offenses are being filed against small and medium-sized business-owners. Almost every week since October 7, news media have been reporting about business owners who were called up for reserve duty, spent months defending the country, and who, upon returning home after completing their tour of duty, are then forced to fight in the courts because a warning letter was waiting for them with a demand for high sums of compensation. Much has been written about this and about the impacts that such demand letters have on reservists – personally and at the business level. And as reported, this issue should be examined by the legislative authorities.
Israeli Capital Market, Insurance and Savings Authority Issues New and Revised Circulars
Israel: Opening Access to Payment Systems and Allocation of Identification Codes to Payment Service Providers
Israel: Increased Enforcement of Packaging Law
Barnea: Advising Summa Technologies on Obtaining Financial Services License
We represented Summa Technologies, which operates in the field of open banking, in obtaining a financial information services license from the Israel Securities Authority. Summa is the seventh company in Israel to receive this license. Elad Reshtick, and Ori Rodriguez represented the client in this matter.
Foreign Direct Investments in Israel
It is surprising to realize Israel does not have a general regulatory binding framework for the approval of such transactions as they pertain to national security, like CFIUS in the United States, the recent UK National Security and Investment Act 2021, or similar bodies in developed countries. As a result, there are no broad cross-sector consolidated controls on foreign investments.
2022: Developments in Financial Service Providers Regulations
This article summarizes the regulatory developments imposed on financial service providers, including of non-bank credit and financial asset services, and the key measures companies engaging in this sector should take in preparation for 2023.
Is the Era of Unsolicited Telemarketing Coming to an End in Israel?
An amendment to the Israeli Consumer Protection Law, also known as the “Do Not Call Me Law,” is about to enter the enforcement phase on January 1, 2023. Inter alia, the law imposes liability on a business telemarketing its product or service, even if a third party is actually making the call.
New Regulations Exempt Credit and Financial Service Providers from License Requirement
To make it easier for fintech companies to operate in Israel, the Knesset Finance Committee has passed regulations to exempt several types of credit providers and financial service providers from a licensing duty.
New Israeli Directives on Cyber Risk Management and Risk Management for Regulated Financial Service Providers
CMISA recently published two new risk management circulars for financial service providers, including small entities.
Doing Business in Israel: Fintech
International companies and individuals seeking to expand into a new area of business or expand their international business into Israel must understand the relevant legal landscape and how it may shape their operations. In this article, we will focus on international companies in the fintech sector considering offering services in Israel or to Israeli clients.
Amendment to Israeli Competition Rules – RPM Arrangements
The block exemption for non-horizontal arrangements recently underwent a significant change. Beyond changing the name of the block exemption to “Rules of Economic Competition,” a significant amendment was introduced relating to the issue of price restraints in vertical arrangements.