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Regulation / Financial Regulation

The financial sector, one of the oldest and, until recently, one of the most conservative, has been undergoing a major shift in recent years. New technologies, consumers, and markets are changing the landscape of the sector, while new players, such as digital banks, credit service providers, cryptocurrency exchanges, and others, are changing the rules of the game.

Financial regulation worldwide, as well as in Israel, is based on a number of principles. These include handling and preventing conflicts of interest between service providers and customers, assuring financial service providers’ stability and preventing systemic damage, ensuring service providers’ capacity and reliability, and more.

 

Based on these principles, each country set up systems of rules designed to regulate the financial sector. For instance, service providers in a certain area must obtain licenses and permits, be registered, and so on. The new technologies that have evolved in recent years are challenging the current rules and oversight mechanisms. As well, they are challenging the regulators in charge of supervision, resulting in regulatory uncertainty. Against this backdrop, Barnea’s financial regulation practice applies its thorough understanding of the regulatory establishment that polices the financial sector and advises its clients on how to maneuver these uncertain conditions.  

 

Barnea’s Regulation Department is uniquely qualified in this sector, providing its clients with intelligent, creative, highly professional, and innovative services. The department’s lawyers provide counsel to Israeli and global banks, insurance companies, large investment firms, small portfolio managers, minor investment consulting and marketing companies, old and new non-bank credit providers, conventional securities trading platforms, digital cryptographic assets (including NFTs, Bitcoin, Ethereum, and other blockchain-based assets), e-wallet providers, fintech companies, P2P platforms, and more.   We advise on and support these entities with all applicable regulation to their financial operations in Israel and overseas. Our advise is based on thorough familiarity with the relevant regulatory bodies, latest guidelines, and sectoral trends.  

 

We guide our clients through the complex processes of inculcating new financial technologies, reviewing the regulatory aspects of due diligence in diverse transactions, financial or other licensing, putting together compliance plans, designing and forming complex contracts with financial technology providers, and more.  

 

The team’s service is aimed at minimizing companies’ and their managers’ exposure to legal action and sanctions; establishing proper work procedures and an organizational culture consistent with applicable regulation (including anti-money laundering and terrorism financing regulation); and achieving successful, forward-looking business strategies.

 

Back to Regulation

News and updates - Regulation / Financial Regulation:


April 10, 2022

The Role of a Court-Appointed Observer at the Board Table

Dr. Zvi Gabbay participated in a "Zichlinskey Hosts" meeting held by SRI Global Group together with the Israel Directors Union.

March 2, 2022

Globes Op-ed by Zvi Gabbay – Crypto and the Regulators

Dr. Zvi Gabbay writes in a Globes op-ed about rising up to the blockchain challenge and who needs to make the next move.

December 12, 2021

Do You Own Crypto? AML Order Also Applies to Digital Currencies

For the first time, companies providing virtual currency services will be required to comply with Israeli anti-money laundering provisions. This follows an amendment to the Prohibition of Money Laundering Order that recently came into effect. The amendment will apply to financial asset service providers obligated to hold a license under the Control of Financial Services Law.

Regulation / Financial Regulation

The financial sector, one of the oldest and, until recently, one of the most conservative, has been undergoing a major shift in recent years. New technologies, consumers, and markets are changing the landscape of the sector, while new players, such as digital banks, credit service providers, cryptocurrency exchanges, and others, are changing the rules of the game.

Financial regulation worldwide, as well as in Israel, is based on a number of principles. These include handling and preventing conflicts of interest between service providers and customers, assuring financial service providers’ stability and preventing systemic damage, ensuring service providers’ capacity and reliability, and more.

 

Based on these principles, each country set up systems of rules designed to regulate the financial sector. For instance, service providers in a certain area must obtain licenses and permits, be registered, and so on. The new technologies that have evolved in recent years are challenging the current rules and oversight mechanisms. As well, they are challenging the regulators in charge of supervision, resulting in regulatory uncertainty. Against this backdrop, Barnea’s financial regulation practice applies its thorough understanding of the regulatory establishment that polices the financial sector and advises its clients on how to maneuver these uncertain conditions.  

 

Barnea’s Regulation Department is uniquely qualified in this sector, providing its clients with intelligent, creative, highly professional, and innovative services. The department’s lawyers provide counsel to Israeli and global banks, insurance companies, large investment firms, small portfolio managers, minor investment consulting and marketing companies, old and new non-bank credit providers, conventional securities trading platforms, digital cryptographic assets (including NFTs, Bitcoin, Ethereum, and other blockchain-based assets), e-wallet providers, fintech companies, P2P platforms, and more.   We advise on and support these entities with all applicable regulation to their financial operations in Israel and overseas. Our advise is based on thorough familiarity with the relevant regulatory bodies, latest guidelines, and sectoral trends.  

 

We guide our clients through the complex processes of inculcating new financial technologies, reviewing the regulatory aspects of due diligence in diverse transactions, financial or other licensing, putting together compliance plans, designing and forming complex contracts with financial technology providers, and more.  

 

The team’s service is aimed at minimizing companies’ and their managers’ exposure to legal action and sanctions; establishing proper work procedures and an organizational culture consistent with applicable regulation (including anti-money laundering and terrorism financing regulation); and achieving successful, forward-looking business strategies.

 

Back to Regulation

News and updates - Regulation:


April 10, 2022

The Role of a Court-Appointed Observer at the Board Table

Dr. Zvi Gabbay participated in a "Zichlinskey Hosts" meeting held by SRI Global Group together with the Israel Directors Union.

March 2, 2022

Globes Op-ed by Zvi Gabbay – Crypto and the Regulators

Dr. Zvi Gabbay writes in a Globes op-ed about rising up to the blockchain challenge and who needs to make the next move.

December 12, 2021

Do You Own Crypto? AML Order Also Applies to Digital Currencies

For the first time, companies providing virtual currency services will be required to comply with Israeli anti-money laundering provisions. This follows an amendment to the Prohibition of Money Laundering Order that recently came into effect. The amendment will apply to financial asset service providers obligated to hold a license under the Control of Financial Services Law.

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