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Latest Updates / Regulation
June 24, 2026
Webinar: Defense Industry in a Changing Reality
Our firm, together with BDO, will host a professional webinar on the key issues companies and funds operating in the defense industry should know, from opportunities and challenges in the defense and dual-use export environment, through VAT, customs, and targeted tax incentives, to legal, financial, and accounting readiness for capital raises, IPOs, and becoming a public company. Adv. Elad Reshtick and Prof. Amichai Cohen from our firm, alongside BDO experts, will speak at the webinar, which will take place on June 30, 2026, at 11:00 AM.
June 23, 2026
Israeli Supreme Court Adopts an “Act-Based Test” for Calculating Consumer Protection Financial Sanctions
For the first time, Israel’s Supreme Court has established a clear test for calculating financial sanctions under the Consumer Protection Law, depending on whether the conduct constitutes a single act or multiple separate acts.
June 21, 2026
Investment Advice and Portfolio Management in Israel – Licensing Exemption for Qualified Clients Is Not a Full Exemption
The Regulation of Investment Advice, Investment Marketing and Investment Portfolio Management Law stipulates that providing investment advice, investment marketing, and investment portfolio management services is contingent upon obtaining an appropriate license from the Israel Securities Authority.
June 18, 2026
Export Controls for AI Models – Practical Implications for Businesses Following the Anthropic Incident
On June 12, 2026, Anthropic announced that the US government had ordered it to immediately suspend foreign nationals’ access to its advanced AI models, Fable 5 and Mythos 5, pursuant to an export control directive issued on national security grounds.
June 15, 2026
EU AI Act Update: First Look at Draft Guidelines on High-Risk AI Classification
Following progress on the Omnibus legislative package, the European Commission has published draft guidelines on the classification of high-risk AI systems. While not legally binding, the draft guidelines provide an early indication of how the Commission is likely to interpret and apply the AI Act’s risk-based framework in practice.
June 10, 2026
Service Provider Convicted of Algorithmic Trading in Unlicensed Foreign Trading Platform
Installing a “robot” for algorithmic trading and defining its parameters is not deemed a “technological service” but may constitute investment portfolio management, which requires a license. This is because the service provider retains material discretion (choice of platform, transaction volume, profit and loss targets, and risk management), even when the account and funds are in clients’ names.
May 23, 2026
Global Operations Under Sanctions and Restrictions: A Professional Webinar for Israeli Companies and Exporters
The international business environment for Israeli companies is evolving rapidly. As part of a professional webinar hosted by our firm in collaboration with the Israel Export Institute, Prof. Amichai Cohen will discuss the practical implications of emerging sanctions, restrictions, and regulatory barriers affecting Israeli companies operating in global markets. The webinar will address key legal and commercial risks, the challenges companies and exporters are encountering in practice, and practical strategies for mitigating exposure and preparing for an increasingly complex international landscape.
May 14, 2026
Proposed Changes to the EU AI Act – Practical Implications for Israeli Companies
The European Parliament has announced that agreement has been reached on the Digital Omnibus proposal for changes in the EU AI Act. Although still subject to completion of the formal legislative process, these changes represent a significant regulatory development and provide greater clarity as to the direction of EU AI legislation.
May 14, 2026
Lecture: “Legal Opportunities and Risks in Artificial Intelligence” – Law and High-Tech Club
Adv. Masha Yudashkin, from the firm's Privacy, Cyber, and Artificial Intelligence Department, delivered a lecture at the third meeting of the Law and High-Tech Club at the Faculty of Law of Bar-Ilan University, titled “Legal Opportunities and Risks in Artificial Intelligence.” The lecture addressed the key legal and technological challenges in the field, including the need for regulation, the development of corporate governance and risk management mechanisms, and the balance between innovation and data security in both the private and public sectors.
May 12, 2026
Globes: Returning from In-House Roles to Law Firms
Adv. Efrat Cohen, a senior partner at our firm, was interviewed by Globes about the growing movement between law firms and in-house legal roles, and the return to private practice. She discussed her own transition back to private practice following senior positions in the business sector, including serving as Head of Regulation in the Legal Division of Bank Leumi. According to Efrat, working within a corporate environment provided her with a broader understanding of decision-making processes, risk management, and clients’ practical business needs.
May 7, 2026
Globes: The Slice Affair Continues to Raise Regulatory Questions in the Capital Market
In an interview with Globes regarding developments in the Slice case, we addressed issues relating to the scope of regulatory enforcement, the responsibility of controlling shareholders, and available enforcement tools. At the center of the case is the enforceability of a ILS 71 million capital injection into a pension fund company to cover a deficit and restore capital adequacy, following the court's acceptance of the regulator’s position. Additional enforcement options are also being considered, including civil proceedings, administrative fines, and other regulatory actions.
May 7, 2026
ISA Publishes Directive Regulating One-Off Advisory Services and Alternative Assets
At the end of April 2026, the Israel Securities Authority (ISA) published a new draft directive regulating the activities of licensed investment advisors and marketers when providing one-off services and services in relation to alternative assets. The purpose of the directive is to reduce information asymmetries and mitigate potential conflicts of interest identified during ISA audits that, in some instances, even resulted in enforcement proceedings.
April 20, 2026
New Israeli Draft Bill Seeks to Expand Control of Dual-Use Exports and Strengthen Regulatory Enforcement over Israeli Companies
In March 2026, the Ministry of Economy and Industry published a draft bill to replace the current dual-use export control orders with comprehensive primary legislation. The proposed law aims to broaden regulatory oversight and establish a more effective, modern framework for controlling exports of civilian, nuclear, biological, and chemical items.
April 15, 2026
Transfer of Personal Data Abroad: Israeli PPA Sharpens Requirements for Organizations
The Israeli Privacy Protection Authority (PPA) has published a position paper clarifying its interpretation of Regulation 2(4) regarding the transfer of personal data abroad. In this context, it emphasizes the requirements applicable to organizations transferring data outside of Israel, including to the United States.
March 30, 2026
Globes: Concerns Over Insider Trading and the Challenge of Enforcement in Crypto and Prediction Markets
Adv. Hadar Israeli, a partner at our firm, spoke with Globes about a troubling new phenomenon: unusual betting patterns and extraordinary activity across financial markets and prediction platforms just moments before major policy announcements. These patterns are raising growing concerns about the potential use of non-public, insider information. Hadar explains that enforcement is especially challenging in the crypto space, where identifying the individuals behind suspicious activity is inherently difficult. With no requirement for verified user identities, a single individual can control dozens of wallets, each appearing as a separate user, significantly complicating detection and enforcement efforts.
March 17, 2026
Interview with Channel 10: Regulatory Challenges in Implementing Artificial Intelligence in Israel
During an interview on the program "Game Rules" on Israel’s economic channel about AI regulation in Israel, we discussed Israel’s position compared to other countries, how to advance regulatory initiatives, the key current regulatory challenges, and the need for a framework that balances oversight and clear boundaries with innovation and the adoption of advanced technologies, while maintaining a stable environment for technological and economic growth.
March 16, 2026
Israel’s Privacy Protection Authority Issues Position Statement on Consent to Processing of Personal Data and Its Implications for Organizations
In its final position statement, the PPA presents a stricter interpretation of the law that more closely aligns with the approach used in European law (the GDPR), under which data subjects must issue active, free, and informed consent. At the same time, the PPA limits the possibilities of relying on the concept of “tacit consent” found in the law.
March 8, 2026
Key Trends and Regulatory Challenges in Israel’s Financial Sector
Adv. Efrat Cohen, a senior partner in our firm's Regulation Department, discussed in an interview the most significant ongoing developments in the Israeli financial market: the payments initiative revolution and its impact on both businesses and consumers; expansion of the open banking reform toward open finance, including broader access for insurance agents to clients’ financial and banking information; and the AI and algorithmic report by the Bank of Israel and the Israel Securities Authority, which establishes a new compliance framework and extends reporting and supervisory obligations regarding the use of artificial intelligence and algorithmic models in the financial sector.
February 19, 2026
Israel Publishes National Cybersecurity Draft Bill: New Obligations, Enforcement Authorities, and Broad Implications
The draft National Cybersecurity Law was published in January 2026. This significant regulatory measure is likely to have broad implications for organizations across the economy, especially digital service providers and entities that provide technological infrastructure.
February 15, 2026
Bank of Israel Issues New Draft Directive to Ease Regulatory Requirements for Small and New Banks
The Banking Supervision Department has published for public comment a draft Proper Conduct of Banking Business Directive titled “Supervisory Framework for Small and New Banks.” The purpose of the draft directive is to adapt regulatory and supervisory requirements to the size and complexity of small and new banking corporations’ operations, in accordance with the Basel Committee’s principle of proportionality, while maintaining banking system stability and protecting customers.