Further to the licencing requirement of bodies providing credit services (which are not banks or financial institutions), which came into effect on the 1st of June 2017 and in light of the broad version of the definitions “granting credit” and “provision of service in a financial asset” in law, as defined within the law regarding bodies and activities, not intended to apply to them, as of the 1st of October 2017, a second draft of regulations has been published by the Capital Market, Insurance and Savings Authority regarding a series of exemptions from licencing obligations under the law (Control of Financial Services Regulations).

To read the full client update (in Hebrew) – click here.