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Insights & News / Capital Markets
September 15, 2020
It’s A New World Out There – Hedge Funds Navigating COVID
As part of our legal counsel to the Israel Hedge Funds Association, we are proud to be involved in the IHFA's 8th Annual Conference. The theme of the conference is “It's A New World Out There – Hedge Funds Navigating COVID.”
August 19, 2020
Zvi Gabbay Lectures Compliance Officer Training Course
As an expert in the compliance field, Zvi Gabbay was invited for the fourth straight year to lecture a compliance officer training course organized by the BDO Academy of Finance and MITIGATE. This unique practical course is geared to compliance officers in international financial organizations. During the lecture, Zvi discussed administrative enforcement and enforcement plans.
August 10, 2020
Providing Counsel in the Establishment of a New Investment Fund in Asia
Liquidity Fund of Meitav Dash will establish with MUFG Bank, the world’s largest Japanese bank, a new private investment fund in Asia. The new fund will be incorporated in Singapore, and will provide credit to companies in Asia, through securitization transactions of future cash flows. Our firm, led by attorneys Roy Engel and Yuval Lazi, accompanied Liquidity, which as part of the agreement will provide the joint company with management and underwriting services.
July 12, 2020
Dividend Distribution in Times of Covid-19
The recent dividend distribution by TASE-traded company Fox-Wizel Ltd. after receiving emergency funding from the Israeli government not only raised moral questions but also underscored the complexity facing many companies at this time. Globes published an op-ed by Micky Barnea in response to the backlash following the company's actions. Micky noted that a key challenge faced by companies is how to balance between dealing with the difficulties and uncertainties of the COVID-19 era, on the one hand, and the desire and responsibility to continue operations as commercial enterprises, on the other.
May 27, 2020
Every Crisis Is an Opportunity – Webinar
On June 2, we will host a webinar together with the ACC addressing the opportunity to upgrade the role of compliance officer in light of the coronavirus crisis. The webinar is geared for compliance officers and legal counsels.
May 24, 2020
An Opportunity for Regulators
The Israel Securities Authority's current enforcement policy forces officers and companies that have acted in good faith to prove as much in an administrative enforcement proceeding. Check out Shir Rozenzweig's op-ed in TheMarker about how regulators can adjust this policy.
May 20, 2020
Doing Business in Israel – Practical Law
This year, we were once again responsible for preparing the QA guide on doing business in Israel for the Practical Law website. The guide provides an overview of recent key developments that have affected doing business in Israel, including the legal system, foreign investment, employment, tax, competition, privacy, IP, etc.
May 7, 2020
FIMI Acquires Control of Amiad Water Systems
FIMI Opportunity Funds, a private investment fund, recently completed the acquisition of control of public company Amiad Water Systems Ltd. Micky Barnea represented Hachoshlim Fund Cooperative Agricultural Society Ltd., Amiad's largest shareholder, in the deal. As part of the deal, FIMI agreed to invest about USD 19 million in Amiad for a share allocation, thereby acquiring 5% more of the company's shares.
May 3, 2020
Capital Markets in the Age of Coronavirus
An MA expert, Micky Barnea was interviewed by the leading newspaper Globes as part of an extensive analysis on the long list of major deals that are being canceled and the financial uncertainty in this period. The article highlights how huge corporations are able to afford what little companies and the self-employed can only dream of. According to Micky, "Starting in February, we noticed a phenomenon in which time has become elastic. Usually people strive to keep deals at a steady pace, and once the handshake is made, they want to move faster. Now, less people are hurrying to complete a deal. They are taking time to see what will happen next in the market.”
April 19, 2020
Mobileye Insider Trading Investigation: Representing Former Syneron VP in Settlement with SEC
On April 17, the United States Securities and Exchange Commission dropped its case against our client Amir Waldman. Waldman, the former vice president of Israel-based medical device company Syneron Medical Ltd., was alleged to have made USD 4.3 million via insider trading on an autonomous driving system technology developer. He will pay the SEC nearly USD 2.2 million to end a civil enforcement lawsuit, a New York federal district judge announced Friday. We commented on the decision as follows: "As in many cases, here too, a negotiation was being conducted at the same as we were preparing for trial, and it ultimately ended with an excellent result. This is a civil not a criminal case, and the arrangement, under which Amir does not admit or deny the facts, allows Amir to move on."
April 5, 2020
Israel Capital Markets Authority Adopts Zohar Lande’s Strategy to Rescue Corporate Market
Dr. Moshe Bareket, the Director General of the Israel Capital Markets Authority, has proposed postponing payments, by deferring or replacing debt in order to raise interest rates to bypass a debt settlement, as part of a rescue plan for the corporate market. His proposal is largely based on the method presented by Adv. Zohar Lande, the head of our Litigation Department, in an op-ed published earlier this week.
March 29, 2020
Article: Bond Market Rescue – Debt and Interest Restructuring
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.
March 19, 2020
Coronavirus: Is a Huge Wave of Debt Arrangement on the Way?
Micky Barnea was interviewed by Globes on the coronavirus’ effect on both the corporate and government bond markets.
February 23, 2020
Chambers TMT Guide 2020: Law in Practice
As experts in the TMT field, our firm was asked to contribute the Israeli law and practice overview for the Chambers Israel TMT guide. In their overview, Micky Barnea, Daniel Lorber, and Anat Even-Chen discuss legal considerations for big data, machine learning, and artificial intelligence. They also address key data protection principles, the challenges with IT service agreements, privacy matters, and more. As a whole, the TMT guide offers insights for each jurisdiction.
February 12, 2020
Meetup of Israeli Blockchain Community
We participated today in a panel entitled "Regulations and Securities, Where Are We?" The panel was part of an event focused on 2020 predictions for the blockchain industry in Israel. Dozens of entrepreneurs and leading players from the local blockchain community attended.
February 5, 2020
Article: Cases Against Netanyahu Will Have Precedential Effect on Corporate Governance in Israel
An op-ed in TheMarker addresses how the Israel State Attorney's guideline on indicting and sanctioning corporations will guide the decision on the prosecution of Bezeq, Walla, and Yedioth Ahronoth.
January 23, 2020
Lecture at Discount Bank's Compliance Conference
We were invited to lecture at a compliance conference organized by Discount Bank for all its compliance officers, trustees, board members, and management.
January 23, 2020
Lecture at Directors' Seminar Hosted by Analyst Investment House
We were invited to lecture at a directors' seminar hosted by Analyst Investment House, where we addressed administrative enforcement, the Israel Securities Authority's structure, and its enforcement system.
January 13, 2020
Hosting the ACC Compliance Forum's Third Meeting
Our firm hosted the third meeting of the ACC Compliance Forum, which focuses on compliance during enforcement procedures. At the meeting, we welcomed Yehuda Shaffer, Deputy State Attorney (Financial Crimes).
December 25, 2019
Micky Barnea Op-Ed: TASE IPO – The Light at the End of the Tunnel?
Globes published an op-ed by Micky Barnea on the Tel Aviv Stock Exchange's latest move to attract new investors with a public offering of its shares. According to Micky, "This listing could be a turning point in anticipation of a long-awaited change, bringing a revival of the stock exchange and the domestic capital market."