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Insights & News / Ori Rodriguez
Advising Summa Technologies on Obtaining Financial Services License
We guided 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. Anat Even-Chen, 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.