Client updates /  Financial Regulation

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.

Regulation by enforcement is designing tests to ascertain which cryptographic assets fall under the definition of “security” in the wake of the XRP crypto token court ruling.

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 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.

In an attempt to reduce insurance costs for License Holders, the Israel Securities Authority (ISA) has recently implemented several changes.