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Insights & News / Capital Markets
May 8, 2022
Globes Interviews Micky Barnea on Options and Executive Salary Increases
In 2021, capital compensation grew to become a more dominant component in the salaries of senior executives of companies traded on the Tel Aviv Stock Exchange. As part of an interview series with a number of capital markets experts in Globes, Micky Barnea noted, among other things, that "we are talking about managers who usually received their capital component, whether in options or in shares, before the company's issuance. This is not a negative phenomenon, as we would expect the chairman of the board, for example, whose role is to provide strategic support to the management staff, to have an identity of interests with the shareholders. When he holds such a capital component, which is positively affected by the rise of the stock, this creates an identity of interests."
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 27, 2022
Regulatory Activism Is Not the Proper Form of Enforcement
Globes has published an op-ed by Dr. Zvi Gabbay commenting on a statement made by a senior official at the Israel Securities Authority regarding the applicability of securities regulation on various types of alternative investments.
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.
February 2, 2022
Interview with Micky Barnea: Takeovers of Public Companies
Recent years have seen several takeover attempts of companies listed on the Tel Aviv Stock Exchange. Already in early 2022 was there a control struggle over Norstar Holdings Inc. As an expert lawyer in the field of corporate takeovers, Micky Barnea was interviewed by TheMarker for an article on the subject.
In the interview, Micky explained that “control takeovers begin with a combination of two things: an analysis to identify the business potential and a legal analysis that clarifies which steps are required to acquire control.”
January 20, 2022
Cyber Events in Public Companies
Hagit Ross, a partner in our firm, lectured today at the annual convention of the Israeli Association of Publicly Traded Companies
on the required preparations public companies must make in the face of cyberattack threats.
December 14, 2021
Accessibility Requirements for Public Company Reports – Advising the Association of Publicly Traded Companies
Our firm is advising the Association of Publicly Traded Companies vis-a-vis the Ministry of Justice, the Commission for Equal Rights for Persons with Disabilities, and the Israel Securities Authority regarding accessibility requirements for public company reports.
From the legal review we prepared for the client, we determined there is no place or justification, even from a broad international perspective, to impose accessibility requirements on companies with regard to public company reports, or to allow private enforcement (in the form of class action lawsuits) against public companies.
November 18, 2021
Internal Enforcement: Series of Webinars for Public Companies
Our firm, in collaboration with the Public Companies Forum of the Association of Corporate Counsel in Israel, has launched a series of webinars on internal enforcement. Among the lectures in the series, to be delivered by Dr. Zvi Gabbay, is "Prohibition on the Use of Insider Information, What an Internal Enforcement Plan Is, and How It Is Implemented in Organizations."
November 15, 2021
Interview on Workers' Rights in SPAC Issuances
Gett announced last week a USD 1.1 billion merger with an SPAC. This prompted unrest among former Gett employees who feared a dilution of their shares. We were interviewed by TheMarker about workers' rights during issuances and SPAC processes.
July 26, 2021
Zvi Gabbay Interviewed by Calcalist as Expert on White-Collar Crime
Zvi Gabbay, the head of our firm's Capital Markets Department, was interviewed by Calcalist along with several other of Israel's leading lawyers in the field of white-collar crime and criminal law.
Zvi addressed the core issues of the field and the impact of COVID-19, and provided his forecast for several ongoing major cases.
July 19, 2021
The Demand for Directors in Publicly Traded Companies
The demand for directors in publicly traded companies is increasing in light of the growing wave of IPOs on the Tel Aviv Stock Exchange.
An expert on the capital market, Micky Barnea was interviewed on the subject by Globes. He explained the significance of the director position in companies, as well as the role's related risks and responsibilities.
July 13, 2021
Real Estate Transactions Using Digital Currencies – Regulatory Challenges
The volume of real estate transactions incorporating digital currencies is expected to grow in the coming years, especially among young, wealthy, tech-savvy professionals. Zvi Gabbay, the head of our firm's Capital Markets Department and a former head of enforcement at the Israel Securities Authority, was interviewed by Globes on the trend. Zvi noted the regulatory challenges that exist in these types of transactions.
June 28, 2021
Webinar: Contacting Investors – Do's and Don'ts
The Israel Hedge Funds Association (IHFA) is hosting the webinar "Contacting Investors – Do's and Don'ts." As part of the webinar, Dr. Zvi Gabbay, the head of our firm’s Capital Markets Department, will discuss the legal infrastructure required for reaching out to investors.
June 14, 2021
IPO Wave Continues to Flourish – How Should Companies Prepare for an IPO?
The growing wave of IPOs on the Tel Aviv Stock Exchange is pushing an overwhelming number of private companies to consider going public.
Zvi Gabbay, head of the firm's Capital Markets Department and a former head of enforcement at the Israel Securities Authorities, was interviewed by the TheMarker for an article on the trend. Zvi explained how companies considering an IPO must behave vis-a-vis the public and the regulatory authorities in order to succeed.
April 17, 2021
Blockchain and Real Estate
Globes has dedicated its Real Estate Supplement for Israel's Independence Day to real estate innovation. Dr. Zvi Gabbay was asked to publish a guest column discussing the implementation of blockchain technology that enables the registration and performance of digital operations through a distributed network of computers in the real estate field. According to Zvi, once land registration is also based on blockchain, buyers will be able to purchase real estate property and take out a mortgage in exactly the same way online purchases are made today.
March 21, 2021
Webinar: 10 Years of Administrative Enforcement in Israel
The Rina and Meir Heth Center for the Study of Competition and Regulation at the College of Management is holding a webinar with former judges and legal experts entitled “10 Years of Administrative Enforcement in Israel.” Dr. Zvi Gabbay was invited to participate in the lawyers’ panel of experts, which will examine the impact of administrative enforcement tools on violations of the law in Israel.
March 12, 2021
High-Tech Companies’ IPOs – Meeting of Cultures on the Tel Aviv Stock Exchange
The corporate regime of public companies in Israel has developed around public protection against the controlling shareholder. These protections are not relevant to most high-tech companies, whose holdings are decentralized. Globes has published an article by Micky Barnea on this subject.
November 26, 2020
What Do Massive Weddings Have to Do with Corporate Compliance?
Our firm organized a webinar for legal advisers and compliance officers, in partnership with ACC. As part of the webinar, firm partner Dr. Zvi Gabbay lectured on the connection between ethics and obedience. Are they in competition or do they complement one another?
November 11, 2020
Dr. Zvi Gabbay Lectures on Distribution and Marketing of Hedge Funds
Dr. Zvi Gabbay lectured today on the distribution and marketing of hedge funds as part of a virtual conference held in collaboration with the Israel Hedge Funds Association and the international law firm Katten Muchin Rosenman.
October 19, 2020
Barnea Represented Canomed in Issuing a Series of Options
Hagit Ross, a partner in our Capital Markets Department, represented Canomed, a company engaged in the cultivation, marketing, and direct sale of medical cannabis, in the issuance of two options series. The issuance is expected to reach a value of NIS 6 million. Canomed is one of the first companies to promote the purchase of pharmacies licensed to sell medical cannabis, thus providing the company direct access to the end consumer. Canomed itself already owns several such pharmacies.