Client updates /  European Union

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.

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 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.

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. 

In October 2019, the Council of the European Union adopted new rules to protect whistleblowers through a new directive.