Client updates /  Financial Regulation

The US Federal Court of Appeals ruled recently that most of the tariffs imposed by US President Donald Trump as part of the trade wars are unlawful. However, the court decided that, for the time being, these tariffs will remain in effect. This is a landmark decision with potentially wide-ranging implications for the US and global economies, as well as for the balance of powers within the US federal government.

Two key developments in the US mark a step toward stablecoin market institutionalization. the US Senate approved new legislation regulating activities in the market for the first time, and Circle – the issuer of the USDC stablecoin, launched an IPO on the NASDAQ.

Upon the launch of Operation Rising Lion last Friday, the Minister of Defense declared a special national state of emergency in conformity with the Civil Defense Law, 1951. On Sunday, the government extended the state of emergency until June 30, 2025.

The Israel Securities Authority (ISA) recently published a report summarizing its findings regarding offerings of securities without a prospectus. The report is intended for entities planning to offer securities to the public and presents the ISA’s position regarding the criteria for various exemptions enabling entities to offer securities without a prospectus.

The AI revolution in the Israeli capital market: The Israel Securities Authority allows financial institutions to use chatbots on their financial analyses platforms, but imposes clear rules and important restrictions on their use.

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 Knesset approved a series of legislative amendments this past July designed to promote competition in the money market – money market mutual funds, deposits and government bonds (short-term loans maturing in less than one year) – and to enable the general public to achieve higher returns on its short-term savings.

Following the Financial Action Task Force’s announcements, the Israel Money Laundering and Terror Financing Prohibition Authority published a list of countries and jurisdictions at high risk of money laundering, terror financing, and proliferation financing.

When the law came into effect last month, the Knesset Economic Affairs Committee prescribed an important series of exemptions from licensing requirements and updated timetables for submitting license applications in particular instances.

The Haifa District Court recently granted a motion to certify a class action regarding the manner in which price is displayed in installment transactions and the interest charged on those installments. This ruling holds great significance for businesses seeking to levy surcharges for customer installment payment options.