Latest Updates

January 3, 2023

2022: Developments in Financial Service Providers Regulations

This article summarizes the regulatory developments imposed on financial service providers, including of non-bank credit and financial asset services, and the key measures companies engaging in this sector should take in preparation for 2023.

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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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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 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 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

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

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

Anat Even-Chen, a partner and the head of our firm’s Regulation Department, was interviewed by Calcalist to shed light on the proposed acquisition. According to Anat, there is no legal prohibition in Israel on foreign ownership of an insurance company, but, in the past, the Capital Market, Insurance and Savings Authority rejected a deal in which a fund owned by the Chinese government wanted to acquire control of the Clal insurance company.

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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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December 1, 2022

Effects of Trade Agreement between Israel and Japan – Amichai Cohen Op-Ed in Maariv

Israel and Japan have announced negotiations to sign a free trade agreement. In an op-ed for Maariv, Professor Amichai Cohen, an expert in the field of international law, explains how such an agreement will affect the Israeli economy.

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November 28, 2022

Can Israeli Employers Request Medical Information during the Hiring Process?

The Israeli Privacy Protection Authority recently published a document presenting its position and recommendations on the privacy protection aspects pertinent to waivers of medical confidentiality and disclosures of medical information during the hiring process.

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November 20, 2022

Regulation: Tips for Online Purchases for a Month Full of Sales

Anat Even-Chen, the head of our firm's regulation practice, was interviewed by Walla for a special article ahead of Black Friday. She offered readers a number of tips for safe online shopping.

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November 16, 2022

How to Maintain Patient Privacy when Digitally Transferring Medical Information

The Israeli Privacy Protection Authority has published a document containing a series of recommendations that address the use of ordinary and non-designated applications for sharing information among a variety of parties.

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November 10, 2022

"Dieselgate" Effect: Israel Changes Rules of Game for Class Actions over Environmental Damage

The Tel Aviv District Court recently allowed a motion to certify a class action against the Volkswagen Group and its importer in Israel, Champion Motors Ltd. The class action focuses on the Dieselgate scandal, after an investigation discovered that Volkswagen installed emissions management software in its diesel-powered vehicles that falsifies air pollution data.

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November 6, 2022

New Regulations Exempt Credit and Financial Service Providers from License Requirement

To make it easier for fintech companies to operate in Israel, the Knesset Finance Committee has passed regulations to exempt several types of credit providers and financial service providers from a licensing duty.

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November 6, 2022

Ransomware Attacks – New Israeli Justice Ministry Recommendations

In light of the increase in fraud crimes in the digital space, the Israeli Justice Ministry has formulated recommendations for defining a policy to contend with ransomware attacks. The recommendations relate to both private entities and government bodies. The new recommendations are part of a more comprehensive examination conducted by the Justice Ministry of enforcement authorities’ handling of these cyberattacks, including regarding the provision of support to entities under attack, assistance to victims of fraud in the digital space, investigation, and enforcement.

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November 3, 2022

New Draft Regulation on Financial Asset Service Providers

The Israeli CMISA published two draft circulars about its intent to tighten the supervision over crypto assets, in the wake of the Celsius crypto meltdown.

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October 25, 2022

All Government Ministries Must Submit Climate Action Plans by the End of 2023

This week, the Israeli government approved the joint proposal submitted by the Prime Minister and the Minister of Environmental Protection to obligate all government ministries to formulate climate action plans. The proposal was approved ahead of the upcoming United Nations Climate Change Conference, which will be held in Sharm El Sheikh, Egypt.

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October 3, 2022

Israel Declares Independence of Privacy Protection Authority in Ministry of Justice

This declaration will help to maintain the European Union’s continuing recognition of the State of Israel as a country whose data protection laws are on par with the European Data Protection Regulation.

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