Client updates /  EU

The Tel Aviv District Court has, for the first time, considered a request to enforce an ICSID award in Israel. In the case against Spain, the Court declined enforcement, holding that Israel was not the appropriate forum due to the absence of any substantive connection to Israel and the ongoing European legal controversy regarding the Energy Charter Treaty.

EU foreign ministers have decided to explore the possibility of cancelling the EU-Israel Association Agreement due to allegations that the war in Gaza is raising doubts concerning Israel’s commitment to the safeguarding of human rights.

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.

The AI Act applies, similar to other European legislation, to companies not based in the European Union but have activity in the Union. Therefore, it may also affect Israeli companies offering services in Europe.

The EU Data Act will supervise companies that manufacture and supply smart devices (IoT devices) and companies that handle data collected by these devices, as well as enact a series of regulations designed to protect consumer privacy.

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. 

The proposed regulation grants the European Commission the power to take measures against companies operating in the European market that receive significant government support from countries that are not members of the European Union.