Latest Updates /  Banking & Finance

The coronavirus crisis is affecting both stock prices and corporate bond prices and yields in the capital market. Zohar Lande, in an article for Bizportal, explains that the Israel Securities Authority must create a “fast-track mechanism” that allows companies to choose to be included in a debt restructuring arrangement subject to the different criteria.

Our firm hosted today ACC members for a seminar on money transfers. Dr. Zvi Gabbay reviewed the regulations and guidelines that exist today in Israel and around the world on the handling of money transfers. In addition, we conducted a panel discussion addressing the challenges and opportunities facing businesses who need to know how to solve problems that may arise. Participating in the panel were Anat Even-Chen, our regulation expert; Doron Cohen, CEO of Covercy; Idit Froim, General Counsel of Colu; Yitz Raab, Managing Partner of Tzur Management; Rami Sasson, Chief Compliance Officer of Discount Bank; and Ronen Siman-Tov, CTO of IBM Blockchain World Wire.

Together with Clifford Chance, we held a workshop for compliance officers and risk management department staff at Discount Bank and Bank Leumi. The workshop included discussions on money laundering enforcement trends, banks' obligations, and how to manage risk and provide service.

Adv. Anat Even-Chen, a partner and our regulation expert, published an article in Globes describing the advancement of the payments market in Israel and its opening up to competition. This move requires courageous measures by regulators - the Capital Market Authority and the Bank of Israel.

Barnea represented Avgol Industries 1953 Ltd in connection with the issuance of a new series of bonds in the amount of NIS 197 Million. Avgol is one of the biggest manufacturers in the world of non-woven fabrics for the hygiene market. Its securities are traded in the leading indices on the Tel Aviv Stock Exchange.

Adv. Gal Oren was interviewed by the prominent Israeli business newspaper, Globes, for an article regarding  the financial opportunities to be found in countries suffering economic crises.

Ariella Dreyfuss Adv. published an article in the leading legal English website "The Lawyer" discussing the new law in Israel relating to alternative means of raising funds. The goal of the law is to assist small Israeli companies in their efforts to raise funds through the social phenomena of crowdfunding, and the establishment of high-tech funds to be traded on a new index on the Tel Aviv Stock Exchange.