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Latest Updates / International Sanctions

January 2, 2023

Duties and Rights of Israelis Who Relocate – Amos E. Rosenzweig Interview with Walla!

In an interview with Walla! News, Amos E. Rosenzweig, a special counsel at our firm, explains that Israeli law possesses no positive definition of who is considered an Israeli resident, but rather who is not. In addition, Amos discusses the social welfare conditions and financial allowances of Israeli residents who live abroad or are considered returning residents.

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January 1, 2023

2022: Antitrust and Competition in Israel – A Year in Review

2022 was characterized by many trends relating to competition law in Israel. Ramped up handling of monopolies, unfair pricing and restrictive trade practices, and enhanced collaboration between Israeli government ministries and the Competition Authority are just some of the trends we witnessed during 2022 in this field.

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January 1, 2023

2022: Trends in Real Estate Law in Israel

The uptrend in Israel’s housing prices continued in 2022. It appears we are only now beginning to feel the outgoing government’s measures. In the regulatory arena, amendments to the Sale Law (Apartments) should begin affecting the balance of powers between buyers and sellers of new apartments.

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December 29, 2022

New Precedent in Israel – Abuse of a Position of Influence and Sexual Harassment in the Workplace

In the case in question, there was no abuse of authority in the work relationship between the defendant and the complainant, since the complainant was not subordinate to the defendant. However, the defendant abused his position of influence over the complainant, obligating the employer to conduct investigation in accordance with a different set of standards.

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December 27, 2022

Suspected Embezzlement at Moshav Ahisamakh

Our office represents a senior official under investigation in connection with suspicions of embezzlement, estimated at approximately NIS 120 million that were allegedly wrongfully obtained from the agricultural association at Moshav Achisemech.

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December 26, 2022

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.

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December 25, 2022

Representative Sells and Shareholders Miss out on Big Profit – Micky Barnea Interview in Globes

The Ista deal, in which representatives on behalf of a broad public oversaw a sale of assets at a price that turned out to be attractive to buyers, has faced severe criticism. As an expert on corporations and the capital market, Micky Barnea was interviewed by Globes about the deal. Micky explained the role and responsibility of public representatives, who manage members’ funds, and clarified some ways to manage long-term investments.

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December 21, 2022

Doing Business In Israel: Regulation of Carbon Pricing

Reducing greenhouse gas emissions to decelerate climate change processes is an important goal of many countries. The two main mechanisms that countries use to reduce GHG emissions are carbon taxation and carbon emissions trading.

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December 20, 2022

Competition and Antitrust: Gal Rozent and Ran Karmi Article in Calcalist

Money laundering allegations against bid competitors convicted of coordinating a tender (coupled with charges of competition law offenses and fraud) may lead to aggravated penalties compares to those imposed on “regular” antitrust offenders. The Competition Authority’s decision to freeze and confiscate assets by virtue of Israel’s Anti-Money Laundering Law will exert heavy pressure, both financial and mental, on those under investigation and indictment. Read Gal Rozent and Ran Karmi’s article on the issue in Calcalist.

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December 20, 2022

Israel Securities Authority Seeks Permission to Expand Authority beyond Securities Offenses

The Israel Securities Authority is seeking to expand its power. If its draft bill is accepted, this will have far-reaching consequences, as the ISA will have the power to investigate offenses related to fraud, bribery, money laundering, and cryptocurrencies (which the ISA considers to be securities).

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December 19, 2022

Can DeFi Use Exempt a Project from Compliance?

Activity in the form of financial decentralization (Decentralized Finance - DeFi) does not exempt from requirements in the field of prevention of money laundering prohibition or compliance with sanctions. It turns out that DeFi is subject to the same "laws of gravity" as projects in the traditional financial industry.

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December 19, 2022

What New Sanctions Might Be Imposed on Israeli Companies Doing Business with China?

The tightrope Israel has been walking in the relationship between the United States and China was recently stretched even further, as the US continues to pursue policies aimed at making it difficult for its allies to cooperate with China. In an interview with The Jerusalem Post, Prof. Amichai Cohen, our firm’s of counsel on international law, details the difficulties and limitations for Israeli companies doing business with China.

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December 18, 2022

Exceptional Workplace Bullying Compensation Awarded to an Employee in Israel

The Israeli National Labor Court awarded ILS 300,000 to the employee after a regional labor court awarded the employee only ILS 60,000.

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December 18, 2022

Representation in Class Action for Polluting Ashalim River

Following pollution to the Ashalim River and its surrounding areas in 2017, three plaintiffs filed a class action against Rotem Amfert, a subsidiary of ICL Group, for NIS 400 million. The plaintiffs demanded compensation for the ecological damage caused to the area.

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December 15, 2022

Intricacies of SAFEs (Simple Agreement for Future Equity)

Contrary to its title, as a Simple Agreement for Future Equity, a SAFE may not be as simple as it seems, and it has complexities.

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December 15, 2022

Regulation: Potential Pitfalls in Phoenix Group’s Purchase by Abu Dhabi’s ADQ Fund

We were interviewed by Calcalist to shed light on the proposed acquisition. We highlighted that there is no legal restriction in Israel on foreign ownership of an insurance company. However, in the past, the Capital Market, Insurance, and Savings Authority blocked a transaction in which a fund owned by the Chinese government sought to acquire control of Clal Insurance.

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December 14, 2022

FTX’s Collapse and the Golden State Warriors – Dr. Zvi Gabbay Interviewed by Finance Magnates

Following the collapse of FTX, several lawsuits were filed against the NBA’s Golden State Warriors, which had entered into cooperation agreements with the now-defunct crypto company. According to Dr. Zvi Gabbay, the plaintiffs must provide at least preliminary indications that the basketball team was aware of or should have been aware of FTX’s wrongdoing. According to Zvi, he saw no hint of any such indications.

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December 13, 2022

Tax Guide for New Immigrants – Harel Perlmutter Article for MIGNEWS

Harel Perlmutter, the head of our firm’s Tax Department, details the tax benefits for new immigrants to the Russian language news website MIGNEWS.

Read the article in Russian

December 13, 2022

New Israeli Privacy Protection Regulations for European Citizens’ Data

New privacy protection regulations drafted by the Israeli Ministry of Justice will obligate Israeli entities to protect data reaching Israel from the European Economic Area, i.e., from EU member states and Iceland, Norway, and Liechtenstein.

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December 13, 2022

ISA – New Obligations for Foreign Brokerage Service Providers

The Israel Securities Authority’s (ISA) new draft amendment to the general permit to offer foreign brokerage services in Israel proposes to obligate permit holders to supervise the activities of marketers on their behalf. For example, permit holders must carry out due diligence examinations of marketers.

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