Latest Updates

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 and financial services in Israel – summary and outlook for 2025

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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December 9, 2024

Salary payments in Israel through payment companies

A new amendment to the Israeli Wage Protection Law allows employees to request that their employers transfer their salary to a wider range of entities.

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December 9, 2024

Cybersecurity Regulation Enforcement Tightens in NY, Highlighting a Broader Trend

Recent fines issued in New York are part of a wider trend of stricter state-level enforcement on cybersecurity in the U.S. Israeli companies operating in the U.S. are required to stay informed.

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December 2, 2024

"Buy-Sell" Model (Reseller) Activity Exempt from Payment Services Licensing

The Israel Securities Authority recently published a staff legal position addressing the licensing requirements for businesses operating in the "Buy and Sell" or "Reseller" model in online marketplaces.

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December 2, 2024

ISA: New Guidelines on Offering and Intermediating Joint Investment Arrangements

The Israel Securities Authority published a position statement recently addressing various issues pertaining to brokerage activities and offerings of joint investment arrangements, including the applicability of the Regulation of Investment Advice, Investment Marketing and Portfolio Management Law (“Advice Law”) and the Joint Investment Trust Law to these activities.

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December 1, 2024

Price tagging requirement continues to be a mandatory obligation

Recently, the issue of price tagging in supermarkets and grocery stores has gained attention. This follows a public consultation issued by the Consumer Protection and Fair Trade Authority seeking input on transitioning to digital price displays as part of the "What’s Good for Europe is Good for Israel" reform.

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November 25, 2024

Do the Arrest Warrants Against Netanyahu and Galant Have Economic Implications?

An interview with Professor Amichai Cohen, an expert in international law, discussing the economic ramifications of the arrest warrants and Israel's broader standing on the global stage.

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November 24, 2024

How Should Israel Handle the Implications of Arrest Warrants Issued by The Hague?

The decision by the judges of the International Criminal Court has placed Israel in one of the most complex situations it has ever faced on the international stage. Prof. Amichai Cohen, our Special Counsel on International Law, was featured in an Op-Ed published by Mako, sharing his expert insights on the matter.

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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 10, 2024

Retail Fintech 2024: Key Trends and Growth Insights

Venture capital investments in the retail fintech sector rebounded significantly during the second half of 2024, with investments reaching USD 4.5 billion. PitchBook’s latest report indicates that the market is identifying new opportunities in companies focusing on the retail sector and is introducing refreshing innovations in retail. The report presents several interesting insights and findings and provides an in-depth perspective on the retail fintech sector and its impact on the retail industry.

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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.

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