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Home · practice areas · Regulation · Financial Regulation · Latest Updates

Latest Updates / Financial Regulation

April 11, 2025

Is Trump Manipulating the Markets? Dr. Zvi Gabbay Speaks to N12

Shortly before former President Donald Trump announced a 90-day freeze on tariffs affecting most of the U.S.’s trade partners—sending global markets soaring—he published a series of controversial posts referencing the ticker of a company he owns. These posts raised serious legal questions regarding potential market manipulation, conflicts of interest, and regulatory exposure. Dr. Zvi Gabbay shared his legal insights in an interview with N12.

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March 3, 2025

Revolution in Electronic Promissory Notes – Court Recognizes Digital Notes

This past weekend, a precedent-setting ruling was issued in the case of Bizi Finance Ltd., in which the court was required to determine whether a promissory note signed electronically could be enforced through the enforcement and collection offices.

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February 20, 2025

Interview on Channel 10: Trump's decision to revoke the international law against bribery worldwide

Adv. Dr. Zvi Gabbay, Head of the Regulation Department at our firm, was interviewed yesterday on Channel 10 – Israel's business news channel, discussing President Trump's decision to revoke the enforcement of the law against bribery payments to foreign governments worldwide. He explained how this decision also affects Israeli companies in the market.

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Coverage on Facebook

Coverage on LinkedIn

February 3, 2025

Legislative updates for regulated financial service-providers – inception of the Financial Information Service Law

Important updates relating to the Financial Information Service Law have been published in recent days.

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January 15, 2025

ISA: Updated Amounts for Qualified Investor Status

The Israel Securities Authority recently updated the amounts that an individual investor must have in order to be deemed a “Qualified investor.” This update applies solely to investors who are individuals and not to companies.

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November 20, 2024

Licensing and Supervision of Broker-Dealers: Key Points of the New Memorandum of Law

In October of this year, the Israel Securities Authority published a memorandum of law aimed at regulating broker-dealer activities in Israel. Public comments will be accepted until 21/11/24.

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October 15, 2024

New Court Ruling Clarifies Legal Boundaries for Offering of Foreign Investments in Israel

The Tel Aviv District Court handed down an important ruling recently regulating the activities of entities distributing alternative investments in Israel. In many instances, the distribution activities are accompanied by conversations and correspondence with potential investors, which constitute investment advice, and this is where matters become complicated.

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October 9, 2024

Understanding DORA: An Overview of the Digital Operational Resilience Act

The Digital Operational Resilience Act (DORA) is an EU regulatory framework, aimed at enhancing the financial sector’s ability to withstand and recover from ICT (information and communication technology) disruptions.

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September 24, 2024

Webinar: Payment Services Law – More Relevant Than You Thought

Our firm hosted a webinar in collaboration with the GCS organization for legal advisors, focusing on the Payment Services Law. The webinar was designed for legal advisors in companies within the financial and service sectors. Presenting at the event were our lawyers, Zvi Gabbay and Anat Even-Chen, along with CPA Julie Raboy, who delivered a lecture on the technological adjustments required in light of the law.

September 22, 2024

New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders

The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment companies and holders of basic initiation licenses or approvals are required to submit annual, semi-annual, quarterly, and immediate reports on various topics, such as audited or reviewed financial data, operational data, compliance with capital requirements, technological measures, corporate governance, compliance etcetera.

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September 1, 2024

The Money Market Reform in Israel is Underway

The Knesset approved a series of legislative amendments this past July designed to promote competition in the money market – money market mutual funds, deposits and government bonds (short-term loans maturing in less than one year) – and to enable the general public to achieve higher returns on its short-term savings.

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August 14, 2024

Israeli Capital Market, Insurance and Savings Authority Issues New and Revised Circulars

This year, the Israeli Capital Market, Insurance and Savings Authority issued a series of new and revised circulars regarding proper management and corporate responsibility by financial service providers.

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March 7, 2024

Regulation of Payment Services in Israel – Latest Developments

The Israel Securities Authority’s publications in recent months do not reflect the final version of the directives, but indicate the ISA’s approach when regulating payment services: setting out the licensing process and the licensing requirements, defining criteria for exemptions, technological requirements, safeguarding and protecting customers’ funds, examining service providers’ integrity, etc.

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December 5, 2023

Barnea: Advising Summa Technologies on Obtaining Financial Services License

We represented Summa Technologies, which operates in the field of open banking, in obtaining a financial information services license from the Israel Securities Authority. Summa is the seventh company in Israel to receive this license. Elad Reshtick, and Ori Rodriguez represented the client in this matter.

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.

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January 11, 2022

Regulating Israeli Banks’ Provision of Services to Licensed Cryptocurrency Service-Providers

The Bank of Israel is proposing to regulate the provision of services to licensed cryptocurrency service-providers so that banks will not be able to sweepingly refuse to provide service and will have to formulate a risk management policy.

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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.

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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 an opinion article by Dr. Zvi Gabbay and Shir Rozenzweig published in TheMarker about how regulators can adjust this policy.

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April 28, 2020

Libra 2.0 – From Global Currency to a Payment Method on Facebook’s Platform

After Libra, Facebook’s ambitious global digital currency venture, faced fierce resistance from regulators around the world, Facebook has announced “Libra 2.0.” The venture is set to undergo far-reaching changes that, on the one hand, will likely do away with regulatory concerns, but, on the other, will force Facebook to give up its original vision, i.e. a quick and simple transfer of digital currencies between accepted users worldwide without the need for a bank account.

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