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Latest Updates / Regulation
July 3, 2023
Avishay Klein and Eyal Nachshon in TheMarker
TheMarker’s Ahad Ha’am magazine published an op-ed by Dr. Avishay Klein on the Israel Securities Authority’s latest guidelines on cyber risks (page 4). The magazine also conducted an interview with Eyal Nachshon on the increase in scope of class action lawsuits against public companies in Israel (page 11). Eyal addressed, among other things, his representation of several companies in a recent series of digital accessibility class action lawsuits.
July 3, 2023
Doing Business in Israel: Aspects of Antitrust and Competition Laws during Mergers and Acquisitions
The Director General’s position is that the Economic Competition Law also applies to a merger between an Israeli entity and a foreign entity that has not been registered as such in Israel if: (a) the foreign entity holds more than 25% of an Israeli company, or (b) more than 25% of the foreign entity’s shares are held by an Israeli company, or (c) the foreign entity has a “place of business” in Israel.
June 5, 2023
The Guide to Avoiding Lawsuits Stemming from Sponsored Advertising
To avoid lawsuits, companies that decide to publish sponsored marketing content and collaborate with influencers should be aware of the limitations that apply to them, including Consumer Protection Law provisions. We provide practical tips in an article for Calcalist.
June 5, 2023
Sagi Gross Lectures at Bar-Ilan University
Sagi Gross, a firm partner, was a guest lecturer in an environmental law course at Bar-Ilan University. He spoke about the environmental aspects of merger and acquisition transactions.
June 5, 2023
When May an Employer Monitor Employees Working Remotely?
Employers that want to use technological surveillance measures to monitor and track employee performance remotely must be diligent about formulating a clear policy, informing employees, and using these means reasonably and proportionately.
June 5, 2023
Algorithm-Based Pricing – the Next Challenge in Competition Law?
The uptrend in the use of algorithm-based pricing tools is increasing competition concerns, especially wherever market concentration is high. Are competition laws equipped to deal with this situation?
June 4, 2023
Foreign Direct Investments in Israel
It is surprising to realize Israel does not have a general regulatory binding framework for the approval of such transactions as they pertain to national security, like CFIUS in the United States, the recent UK National Security and Investment Act 2021, or similar bodies in developed countries. As a result, there are no broad cross-sector consolidated controls on foreign investments.
May 28, 2023
Israel: Regulating Payment Services and Payment Initiation
New provisions set out the licensing framework for the provision of payment services, designed to encourage new players to enter the Israeli market and offer payment services while providing broad protection to consumers. The law will apply to companies providing payment services, credit service providers, acquirers, and more.
May 28, 2023
European Union v. Facebook: EUR 1.2B Privacy Infringement Fine
An EUR 1.2 billion fine was imposed on Meta after the EDPB ruled the company was systematically transferring the personal data of millions of Facebook users from the European Union to servers in the United States in violation of the European GDPR.
May 17, 2023
Investment Advice and New Technologies: Amendment to Israeli Directive
In order to contend with the meager supply of investment advice or portfolio management services via technological interfaces, the Israel Securities Authority has published a proposed amendment to the directive focusing on two main services: trading signal services and social trading. Both of these services rely on digital media.
May 17, 2023
The Legal Risks of Using ChatGPT
The legal issues that follow the use of artificial intelligence-based processing solutions will continue to challenge in the years to come. Meanwhile, the main questions are related to intellectual property, privacy and reliability.
May 14, 2023
Israel: Information Transferred from European Economic Area
The regulations grant several new rights to the relevant data subjects, when the database contains information transferred from the European Economic Area (EEA) to Israel, including the data subject’s right to delete information and a broader right of review.
May 4, 2023
Barnea: Hosting AI & Regulation Conference
Our firm hosted the “AI Regulation" conference, with the participation of Gilad Samama, head of the Israel Privacy Protection Authority, and other senior officials. The conference was held in collaboration with the International Association of Privacy Experts (IAPP) and the Israel-America Chamber of Commerce. At the conference, Dr. Avishay Klein, head of our firm’s privacy, data protection and cyber practice, lectured on the regulation of artificial intelligence in Israel and around the world.
April 24, 2023
Tel Aviv Stock Exchange Publishes ESG Questionnaire
The publication of the questionnaire aligns with global trends and reflects the importance of this subject for investors. According to the TASE press release, only 70 companies currently publish full ESG reports.
April 18, 2023
Greenhouse Gas Emissions: Scope 1, Scope 2 and Scope 3
The monitoring of greenhouse gas emissions is not only important for protecting environmental quality, but it also offers commercial benefits, such as monitoring energy and supply chain expenses and participating in carbon emissions trading markets.
April 4, 2023
Lawsuits and Enforcement: Privacy Violations through AI
A few months after ChatGPT became a popular tool for millions of users, users began filing lawsuits alleging violations of users’ privacy and data security breaches. The conclusions from these lawsuits are relevant to all companies engaging in the development and assimilation of AI technologies.
March 28, 2023
Class Actions on Accessibility of Public Companies' Reports Dismissed
At the conclusion of a proceeding conducted over about two years, an Israeli court recommended that the class plaintiffs withdraw their actions in light of the legal difficulties and since there is no reasonable possibility that the legal questions will be ruled in favor of the plaintiffs. The plaintiffs accepted the court's recommendation, and the court dismissed in limine 66 class actions.
March 15, 2023
The Israeli Arrangements Law of 2023-2024: Significant Harm to Environmental Quality
Notwithstanding growing awareness and the measures being taken to reduce greenhouse gas emissions (as part of Israel’s commitment under the Paris Agreement), the emerging Arrangements Law could cause a regression in environmental legislation and hinder efforts to protect Israel’s population from environmental hazards.
February 22, 2023
Prof. Amichai Cohen on Israel’s Constitutional Law Reforms
Prof. Amichai Cohen was invited to write a series of articles about the new Israeli government’s proposed judicial reform and its implications for the Israeli legal system
February 21, 2023
AI and Regulation: The Future Is Already Here
The more artificial intelligence permeates additional spheres of private and public life, the greater the need to regulate uses of this technology. Various artificial intelligence regulations are already in place around the world and additional regulatory initiatives are being promoted at a rapid pace.