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Home · practice areas · Regulation · Latest Updates

Latest Updates / Regulation

March 24, 2025

Pay Attention: Clearview AI to Pay Landmark Amount for Collecting Biometric Data Without User Consent by Scraping

Recently, a US District Court in Illinois has granted final approval to a settlement in the Clearview AI consumer privacy litigation, concerning the company’s controversial practices of collecting and storing biometric facial recognition data. This should serve as a reminder that US state privacy laws are as relevant as ever and that their violation may lead to significant penalties.

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March 13, 2025

The Bank of Israel released a preliminary Digital Shekel design for public comment – a real opportunity for competition and innovation?

Last week, the Bank of Israel published a preliminary design of the central bank’s Digital Shekel system. In a detailed document, holding more than 100 pages, the Bank of Israel presents guiding principles and a work plan for further advancing this ambitious project.

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March 11, 2025

Shahar Poller Atzil on Channel 10: The New Broker Regulations

Recently, the new ethics regulations for real estate brokers in Israel came into effect, requiring them to operate with full transparency and uphold high standards of integrity towards their clients. Shahar Poller Atzil, a partner in our litigation department, was invited to an interview on Channel 10 (the Economic Channel) to discuss the new reform that is set to change the landscape of the real estate brokerage market in Israel.

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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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March 2, 2025

The Legal Assistance Between States Law: A Violation of Suspects' Rights?

Recently, in an effort to intensify the fight against international crime, the Knesset passed an amendment to the Legal Assistance Between States Law, 1998, which expands the authorities' powers to confiscate assets located in Israel belonging to individuals against whom criminal proceedings have been opened in foreign countries. This amendment raises critical legal dilemmas and questions regarding the rights of suspects and third parties. Adv. Shir Rozenzweig, who specializes in regulatory enforcement and white-collar crime, addresses these issues and more.

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March 2, 2025

Israel Steps Up Enforcement on Retail Price Marking Violations

The Ministry of the Economy’s wide-scale enforcement campaign launched last weekend in branches of supermarket chains throughout the country, found violations of the obligation to mark prices in all of the branches that were inspected.

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March 2, 2025

Significant Shift in the Israeli Privacy Protection Authority’s Definition of Consent

The Israeli Privacy Protection Authority has issued a new statement introducing a significant change in the interpretation of the law and in the required methods for obtaining consent to the collection and processing of personal data. While the dry wording of the law enabled reliance on tacit or tacit consent, the PPA now clarifies that explicit, informed and free consent must be prioritized.

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March 2, 2025

ESG in the Crosshairs: Will Trump's Policies Change the Rules of the Game? An Interview with Dr. Zvi Gabbay

In the past, ESG matters were primarily handled by accounting firms and external consultants. However, in recent years, leading law firms in Israel have begun establishing dedicated ESG departments or integrating ESG advisory services into existing practice areas such as corporate law, regulation, and environmental law. This shift has been driven, among other factors, by increasing regulatory demands from the Bank of Israel, the Israel Securities Authority, and the Capital Market Authority. Now, with Trump's return to the White House and his new policy direction, is the status of ESG set to change? An interview with Dr. Zvi Gabbay from our firm at Globes.

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March 1, 2025

Fintech-Tel Aviv 2025 Annual Summit: Dr. Zvi Gabbay join an expert panel

Adv. Dr. Zvi Gabbay, Head of our Regulation Department, has been invited to join an expert panel on "Best Practices for Fintech Implementation and Operations" at the Fintech-Tel Aviv 2025 Annual Summit! Startups, investors, and companies are invited to this unique fintech event.

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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 21, 2025

Everything You Need to Know About DORA – A Guide for Legal Counsel

Our firm hosted a webinar in collaboration with the "Legal Counsel for Legal Counsel" organization, where Dr. Avishay Klein delivered practical tools for navigating the DORA regulation in light of the new directives.

January 16, 2025

Ten Q&A About Investment Management and Consulting Without a License

Recently, several cases of unlicensed investment management and consulting have made headlines. These include an instance where an administrative fine of NIS 130,000 was imposed for unlicensed investment management, and another case that led to an indictment. Such cases highlight the importance of understanding the legal rules and requirements in this field.

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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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January 13, 2025

ISA Issues Draft Rules on Licensing Exemptions for Payment Services

Recently, the Israel Securities Authority (ISA) published draft rules regulating entities’ notice of exemption from the obligation to obtain a license to provide payment or payment initiation services.

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January 1, 2025

Regulated payment services & financial services in Israel – 2025 summary & outlook

2024 was characterized by a multitude of regulatory directives to payment companies and to payment initiation companies as part of the preparations for the licensing obligation that came into effect in June 2024.

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December 25, 2024

Applicability of Payment Services and Initiation of Payment Law in Trust Frameworks

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December 24, 2024

New EDPB Opinion on Personal Data Protection in AI

Several days ago, the European Data Protection Board (EDPB) adopted an opinion addressing key data protection concerns arising from the use of Artificial Intelligence (AI) models. The opinion specifically focuses on how GDPR principles apply to AI, emphasizing issues such as anonymization of data within AI models, the legal basis for processing personal data during AI development and deployment, and the consequences of unlawful data processing in AI systems.

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December 15, 2024

Expansion of Privacy Protection Regulations regarding data from the EEA

As of January 1, 2025, the Israeli Privacy Protection Regulations (Instructions for data being transferred to Israel from the European Economic Area) will also apply to data being stored or processed in Israel or in other countries, such as the US and the UK, if these databases also contain data transferred from Europe. In other words, this means that as soon as a database in Israel or another country also contains personal information transferred from Europe, all data in the database must comply with the regulations’ requirements – not just the data that came from Europe, but also the local data or data that came from other countries.

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December 11, 2024

The Israeli Chapter in Legal 500's International Trade Guide

Our firm was chosen to cover the Israeli chapter of the Legal 500 International Trade guide. The chapter was written by Professor Amichai Cohen and provides insights on key issues in international trade law, including WTO agreements, FTAs, and trade sanctions.

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