Staying Ahead of the Game: Massachusetts Implements Data Privacy and Security Standards for Gambling Industry
The Massachusetts Gaming Commission (“MGC“) has recently established new rules and standards for the gambling industry in the field of data privacy and data security (regulation 205 CMR 138.00; 205 CMR 248.00; “Regulations“). The Regulations, which resemble some of the key provisions of the European General Data Protection Regulation (GDPR), would significant affect gambling and […]
Updates for 2023 on VAT in connection with Activity in Commercial Real Estate: a New Reportable Position and New Case Law
Dear clients and colleagues, With the start of 2023, we would like to inform you about the past year’s changes and updates related to Value Added Tax (VAT) in the field of commercial real estate, as follows: Reportable Tax Position A Dealer, whose annual turnover exceeds NIS 3 million, and financial institutions are required […]
LONGEVITECH TLV 2023
Leveraging Global Innovation For The Future Of Healthy Aging 13-14 February 2023 Tel Aviv Stock Exchange | Herzog Tower Welcome To The Inaugural Longevitech Tlv! The rise in life expectancy is changing the way we live, save, spend, retire and pass on wealth to the next generation. Longevity creates opportunities for ‘healthy aging’ but also comes with risks. […]
The FCC Seeks to Update and Strengthen Rules Regarding Breach Notification
The US Federal Communications Commission (“FCC“) has recently joined the emerging trend of imposing stricter rules and regulations when it comes to notification of breach incidents. On January 12th, 2023, the FCC has started a process of Proposed Rulemaking that would begin the process of strengthening the Commission’s rules for notifying customers and federal law […]
Prepare for EU’s new Regulation on Cybersecurity and Operational Resilience in the Financial Sector
By Ariel Yosefi, Dima Zalyalyeyev & Liron Adar Dear clients and friends, The EU has enacted the new Regulation on Digital Operational Resilience for the Financial Sector (“Digital Operational Resilience Act” or “DORA“). The new regulation will start to apply from 17 January 2025. Although the application date of DORA may seem as distant, the 24-months […]
Our partner Gilad Majerowicz was elected to the position of Chairman of the Israel-Japan Chamber of Commerce and Friendship Society
Congratulations to our partner and head of the Japan desk at Herzog – attorney Gilad Majerowicz, for being elected to the position of Chairman of The Israel Japan Chamber of Commerce and Friendship Society! In collaboration with the public and private sectors in both countries, the Israel-Japan Chamber of Commerce promotes trade relations and creates […]
The Israeli Energy Tech All-Stars ‘23
Are you looking for a chance to invest in something truly impactful? We are proud partners of the Israeli EnergyTech AllStars 23 – This is an opportunity like no other – not only will you be able to learn more about the newest (some never on stage) energy tech startups in Israel, but also network […]
The Annual Event for Successfully Navigating AI Startup Challenges
We are pleased to invite you to the conference “The Annual Event for Successfully Navigating AI Startup Challenges” During which we will discuss the following themes: Foundation Models and how to personalize them Ethical, Compliance and IP Challenges in AI Solutions for Startups by Startups Leveraging Digital Twin for Simulation Using Generative AI in your […]
Partners Talya Solomon and Iris Achmon’s newest article
Last week, the Competition Commissioner imposed an administrative fine on MBI Pharma Ltd., drugs importer for excessive pricing of a drug intended for the treatment of a rare metabolic condition known as Cerebrotendinous Xanthomatosis (CTX). The company was fined NIS 8 million, and two senior executives were fined NIS 614,000 each. This is the first […]
Partner Liran Barak’s Contribution to The Legal 500: Gambling Law Comparative Guide 2022
We were invited to take part in writing the Legal 500 Country Comparative Guides Israel: Gambling Law 2022. The aim of this guide is to provide its readers with a pragmatic overview of the law and practice of gambling across a variety of jurisdictions. Each chapter of this guide provides information about the current issues […]
The CJEU Provides Judgement on the Right of Access to Recipients of Personal Data under the GDPR
The Court of Justice of the European Union (“CJEU“) has recently provided its judgement on the scope of the right of access under Article 15 of the General Data Protection Regulation (“GDPR“), concerning the rights of data subject to receive information about third parties with whom their personal data was shared by the controller. The […]
The Indian Ministry of Electronics and IT Published Rules Concerning Real-Money Games
By Ariel Yosefi, On Dvori & Liron Adar On January 2nd, 2023, the Indian Ministry of Electronics and Information Technology has released draft modifications (“Draft“) to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules (“Rules“), for public review and consultation. The Draft forms a part of India’s efforts to promote the growth […]
Ministry of Justice Opinion on the Use of Copyrighted Works for Machine Learning Purposes
The Office of Legal Counsel and Legislative Affairs of the Israel Ministry of Justice published an opinion on the use of copyright protected content for machine learning purposes. Based on the analysis of three permitted uses under the Israeli Copyright Act, 2007 (hereinafter, the “Law“) – fair use, incidental use and transient use – and […]
The Irish Privacy Regulator Imposes a €390M Fine for Behavioral Advertising Practices
The Irish Data Protection Commission (“DPC“) has announced that it imposed a fine totaling to €390M against Meta. The fines come after the DPA has concluded its decisions on two inquiries into the company’s legal bases for processing of personal data in the context of behavioral advertising. The inquiries concerned two complaints involving two of […]
Summary of a year in the fields of import legality and new positions requiring customs reporting
Dear clients and colleagues, The year 2022 brought with it many changes in the fields of import and customs. Further to our Clients Update regarding the reduction of duties and the rise of the global export tariff system (Click here for the previous update regarding this subject), we would like to bring to your attention […]
What Do You Know About Israeli employment Law?
Dear Clients and Friends, We have decided to establish a quarterly update, which will be devoted to subjects that are unique to Israeli employment law or which raise special interest for foreign employers. These updates will be kept short and informative, and will be sent on a quarterly basis (in addition to our regular client […]
Trends in Transactions Involving IIA-Funded Companies
Issues surrounding government funding from the Israel Innovation Authority (the IIA) can play an important part in M&A transactions involving Israeli technology companies. Funded companies are subject to various obligations and limitations, including royalty payment obligations and limitations on using and sharing IP globally, often influencing the structure of transactions. Below are a few specific […]
The Introduction of a New Customs Export System and the Extension of the Validity of Temporary Orders regarding Customs Duties Reductions
Dear Friends and Colleagues, We would like to bring to your attention the latest updates published by the Israeli Tax Authority regarding the introduction of a new customs export system and the extension to 15 February 2023 of the validity of temporary orders that reduce the duties on various products. The Extension of the Validity […]
The Council of the European Union Adopts a General Approach to the AI Act
Following the recently increased focus of legislators and regulators globally on artificial intelligence (“AI“), the Council of the European Union (“the Council“) has adopted its position concerning the Proposal for the comprehensive European Regulation on Artificial Intelligence, also known as the “Artificial Intelligence Act” (“AI Act“). The Council’s position proposes a wide array of amendments […]
Updates to Transfer Pricing Reporting Requirements in Israel
As with most OECD countries, Israeli companies and/or PEs are required to meet the local transfer pricing requirements, which include to hold an intercompany agreement as well as a transfer pricing study. Reporting to the Israeli Tax Authorities is made under form 1385. As of December 23, 2022, this form has been amended and now […]
Happy Holidays !
Happy Holidays!
Wishing you and your loved ones health and happiness in the new year.
May 2023 be an extraordinary year!
Herzog is Pleased to Announce the Appointment of 18 New Partners
Dear Clients & Friends, We are proud and excited to present our new partners!. Each of them is a leader in their practice area and is at the cutting edge of the Israeli legal scene. The new Herzog partners are a diverse group of individuals with considerable experience and capabilities, some of whom joined the […]
Navigating Uncertain International Capital Markets for Israeli Companies
Save the date! 09:30-10:00 Gathering and networking 10:00-10:30 Current state of markets 10:30-11:15 Getting ready to go public the traditional way 11:15-12:00 Going public in non-traditional ways (Direct listings, SPACS and TASE offerings) 12:00-12:45 Issues facing public companies 12:34-13:30 Lunch and networking For registration >> click here
Our client, D1 Capital Partners L.P. , has led a $550 million Series E funding round into Fireblocks
Our client, D1 Capital Partners L.P. , has led a $550 million Series E funding round into Fireblocks, which company has become the highest valued digital asset infrastructure provider valued at $8 billion. Other significant investors in this round include Spark Capital, General Atlantic, Index Ventures, Mammoth, CapitalG, Altimeter and Iconiq Strategic Partners. Fireblocks already […]
Clients Update – Transfer of Data to Israel from the European Economic Area
Dear Clients and Colleagues, We would like to draw your attention to that on 29 November, 2022, the Israeli Ministry of Justice has published for the public’s comments the Draft Protection of Privacy Regulations (Instructions Regarding Data Transferred to Israel from the European Economic Area), 5782 – 2022 (the “Regulations“), which set specific instructions regarding […]
Herzog acted for Oitchau Holdings Limited
Herzog acted for Oitchau Holdings Limited, a Hong-Kong company engaged, through its subsidiaries, in the development, sale and support of software and applications for real-time fraud-proof tracking and managing of employee attendance, worktime, paid time-off and other parameters, in a financing round led by its founders and with the participation of many other investors, raising […]
Israeli companies in the web of international trade and Sanctions Regimes
For registration >> click here
The Protection of Privacy Authority’s recommendations regarding disclosure of medical data in employee hiring process
Dear clients and colleagues, We wish to update you that on November 20, 2022, the Protection of Privacy Authority (the “PPA“) published a draft statement for public comments, including highlights and recommendations concerning the protection of privacy of candidates with respect to the disclosure of their medical data as part of the hiring process. According […]
UK Regulator Publishes Guidance on the Use of AI
Following the recently increased focus of legislators and regulators globally on the creation of regulatory frameworks for artificial intelligence (“AI“), on 8 November 2022, the UK Information Commissioner’s Office (“ICO“) has published a guidance on the appropriate and lawful use of Artificial Intelligence (“AI”) and personal data protection for organizations (“Guidance”). The Guidance provides clarity […]
Chicago Bulls will have Plus500 as their official sponsor
It is with great pleasure that we inform you that Herzog has represented Plus500 in a multi-year sponsorship agreement, in which Plus500 shall become the official global partner of the Chicago Bulls, featuring the Plus500™ logo exclusively on the front of the team’s warmup shooting shirts and jackets and presenting Plus500 as the “Official Global […]
