Client Update | Notification Obligation – Personal Data
Dear clients and colleagues, We would like to inform you that on May 2, 2022, the Protection of Privacy Authority (the “PPA“) published a draft for the public’s comments regarding “the duty to notify of collection and use of personal data” (the “Draft“). The Draft outlines the PPA’s interpretation of Section 11 to the Protection […]
Connecticut is the Fifth US State to Enact a Comprehensive Privacy Law
Connecticut’s legislators have recently enacted a new and comprehensive privacy act, titled ‘an Act Concerning Personal Data Privacy and Online Monitoring’ (“CTDPA“). As part of a growing trend of state privacy legislation, Connecticut is now the fifth state to enact a state privacy law in absence of a comprehensive Federal privacy law, following California, Virginia, […]
EU Agrees on the Digital Services Act to Regulate Internet Platforms
The Council and the European Parliament have reached a provisional political agreement on the draft Digital Services Act (“DSA“), which is now expected to progress to its final legislative process. As previously reported in our client update, the DSA defines new standards that will govern the digital sphere and counter the dissemination of illegal and […]
Clients Update- Marking a Default Option
Dear clients and colleagues, We would like to inform you that the Consumer Protection and Fair Trade Authority (the “Authority“) has issued a directive (the “Directive“) regarding a default marking in the purchase of a product or service (the Directive is dated April 11, 2022). In accordance with the Directive, the Authority is of the […]
Partner Gilad Majerowicz hosted the Cybersecurity and Mobility Panel at the Cybertech Tokyo Conference
In the recent Cybertech Tokyo Conference, Israeli and Japanese experts participated in a panel discussion “Cybersecurity and Mobility” moderated by Partner Gilad Majerowicz. Elchanan Harel, President of Harel-Hertz Investment House Ltd said: “Last year, we got some $400 million in investment from Japan in 15 cases – the total cases of investment from Japan were […]
AML Supervisory powers proposed to be granted to the Israeli FIU over Financial Service Providers
Dear Colleagues and friends. We write to update you that on March 28, 2022 the Ministry of Justice published a memorandum of law proposing to grant the Israel Money Laundering and Terror Financing Prohibition Authority (“IMPA“), which is Israel’s financial intelligence unit (FIU), new supervisory authority over Financial Service Providers regulated under The Supervision of […]
Legislation Updates: TP Study Requirements, Master File and CbCR
Following on from our recent update, on 4 April 2022, our firm participated in the next stage of discussions, on behalf of the Israeli Bar, with the Finance Committee of the Knesset (the Israeli Parliament) with respect to the amendment of the Israeli Tax Ordinance (the “Ordinance”), as well as to the Israeli transfer pricing […]
Metaverse | A New Internet event
Metaverse | A New Internet event Together with our friends at Remagine Ventures, we hosted the “Metaverse | A New Internet” event with experts and industry leaders who shared their thoughts about the Metaverse possibilities. Expert rock stars – Liat Aaronson | Yehoshua Gurtler | Tomer Weiss our Ariel Yosefi The Startups that build the Metaverse – Anat Shperling | Shahar Sorek and Oren Aharon And of course […]
DOJ Releases Guidance on Website Accessibility
The US Department of Justice (“DOJ“) recently published its Guidance on website accessibility under the Americans with Disabilities Act (the “Guidance). The Guidance is designed to explain how state and local governments and businesses open to the public (collectively, “Covered Entities“) can ensure that their websites are accessible to people with disabilities in accordance with […]
UK Regulators Continue Focus on Crypto Advertising
The UK Advertising Standards Authority (“ASA“) published new guidance on the application of the UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (“CAP Code“) to crypto-assets (including NFTs) as well as an enforcement notice, sent to over 50 companies which advertise cryptocurrencies, instructing them to review their ads and to ensure they understand […]
EDPB Publishes Draft Guidelines on Dark Patterns in Social Media Platforms
The European Data Protection Board recently published its draft guidelines on ‘Dark Patterns’ in social media platforms (“Guidelines“). The EDPB defines “dark patterns” as “…interfaces and user experiences implemented on social media platforms that lead users into making unintended, unwilling and potentially harmful decisions regarding the processing of their personal data. Dark patterns aim to […]
Fintech Week Tel Aviv 2022 Day 3 Full Agenda
09:00 WELCOME: Gil White Managing Partner, Herzog Fox & Neeman OPENING KEYNOTE: Jon Medved Founder & CEO, OurCrowd 09:30 PANEL: Innovation through Partnerships and Collaboration: What are the emerging business models, and emerging ecosystems? Moderator: Adam Chernichaw Partner, Allen & Overy LLP Raul Shnier CTO, FinSec Innovation Lab Shoham Ben Rubi Head of International Affairs, Israel Securities Authority Mohammad Balooshi Sector Head Fintech & Innovation, Dubai International Financial Centre Neta Hamou Associate […]
Partner Gilad Majerowicz: “The involvement of Japanese conglomerates and funds in the hi-tech industry in Israel is steadily growing”
Partner Gilad Majerowicz, Head of Herzog’s Japan Practice, talked about the involvement of Japanese conglomerates in the Israeli hi-tech industry in an article on IsraelDesks. “According to the report, Japanese investments accounted for 15.8% of all foreign investment in Israel in 2021, and reached a record number of USD 2.9 billion in 2021. The numbers […]
Israeli Parliament Discusses Master File and CbCR implementation
On 9 March 2022, our firm participated on behalf of the Israeli Bar in a discussion held in the Finance Committee of the Knesset (the Israeli Parliament) with respect to the amendment of the Israeli Tax Ordinance (the “Ordinance”), as well as to the Israeli transfer pricing regulations (the “Regulations”), specifically regarding the implementation the Master File […]
How the war in Ukraine and the international sanctions affect companies in Israel
The Russian invasion of Ukraine and the sanctions on Russia have created many changes and disruptions in the global economy. More uncertainty may still arise in the short term. We invite you to a special webinar to help you understand these issues and make sense of them. Join us on Monday, March 14 at 10:30. […]
Utah Becomes the 4th US State to Enact a Comprehensive Data Protection Law
Utah’s legislators have recently enacted a new and comprehensive privacy act – the Utah Consumer Privacy Act (“UCPA“). Utah is now the fourth state to enact a state privacy law in absence of a comprehensive federal privacy law, following California, Virginia and Colorado. The law is materially similar to the abovementioned laws, and to Virginia’s […]
Our client Immunai inc. closed a major investment from Koch Disruptive Technologies as lead investor
Our client, Biotech company Immunai inc., closed a major investment from Koch Disruptive Technologies as lead investor and other new and existing investors. Immunai works to map the immune system with single-cell biology and AI to power new therapeutic discoveries, accelerate drug development and improve patient outcomes. The investment of about $215M will allow the […]
Have you asked yourself why so many flock to the UAE’s shores to do business?
5 tips on how to choose the right UAE free zone for your business Nitzan Ben-nun Tech and System senior associate @ Herzog Strategic The Abraham Accords created a rare opportunity for Israeli companies to enter into one of the fastest growing markets in the world, offering a unique eco-system that enables any business to […]
New Churidar for the health-techs: a new strategic partnership between Abu Dhabi Department of Health and the Israel Innovation Authority
Ofer Sachs, Aviv Barzilay, Dr. Louiza Chitour Ofer Sachs is CEO, Herzog Strategic Ltd. Aviv Barzilay is an Associate at Pitango Venture Capital, and formally Head of Strategy at Herzog Strategic. Dr. Louiza Chitour is heading the HealthTech program by Plug and Play Middle East It has recently been announced that the department of health Abu Dhabi (the […]
Foreign Funds Approved Stock Exchanges for the Purpose of Double Listing of Foreign Funds
Client Update – Foreign Funds Approved Stock Exchanges for the Purpose of Double Listing of Foreign Funds The Israeli Ministry of Finance has recently published a proposed amendment to the “Joint Investment Trust Regulations (Foreign Fund Unit Offerings) 2016” (the “Proposed Regulations“). If approve, the amendment will serve as a significant step towards opening the […]
Herzog’s Partners Contributed to the Employment Law Review’s Thirteenth Edition
Herzog’s Labour & Employment partners Orly Gerbi, Maayan Hammer-Tzeelon, Nir Gal, and Keren Assaf, together with partner Ohad Elkeslassy from the Commercial department, teamed up to write the Israeli chapter of the Employment Law Review: Thirteenth Edition. “The primary means for resolving employment disputes are the labour courts, parity committees (mostly established by CBAs), internal […]
Updates to Covid-19 Regulations for Entry into Israel (As of March 1, 2022)
Dear Clients and Colleagues, We would like to update you that the Israeli Government has updated and its policies with respect to entry into Israel. Effective as of March 1, 2022, it is no longer required to be vaccinated / recovered from Covid in order to be allowed entry into Israel. That is to say, […]
Top women in Israel Industry 4.0 List
Together with II4 Community, Quantum Hub and Startup Nation Central, we initiated the ‘Top women in Israel Industry 4.0 List’ to celebrate and spotlight leading women in the Industry 4.0. For the Industry 4.0 revolution to succeed, we need not only great technologies but also a cultural change, greater diversity and inclusion are critical to achieving […]
Schwarz Group has acquired Israeli Hybrid Cloud Cybersecurity Innovator XM Cyber
Schwarz Group, the world’s fourth-largest retailer and a growing force in cloud computing, has acquired Israeli Hybrid Cloud Cybersecurity Innovator XM Cyber. With the acquisition, the Schwarz Group prepares for the future challenges of IT security. Our partners Hanan Haviv, Yuval Meidar, and associate Tomer Amsalem from the Hi-Tech Department led the team that included […]
Israel Reinvents Antitrust Law (again): Memorandum of Law Proposes to Ban and Criminalize Harm to Parallel Imports
Dear clients and colleagues, On February 14, 2022, the Israel Competition Authority published the Memorandum of the Economic Competition Law (Amendment) (Removal of Barriers to Import) (Temporary Order), 2022 (hereinafter: the “Proposed Amendment“), which seeks to amend the Economic Competition Law, 1988 (“ECL“). The Proposed Amendment proposes to create new prohibitions aimed at “Direct Importers, […]
New VAT Ruling of the Districts Court – Recognizing that Credit Notices may be Issued for “Bad Debt”
New VAT Ruling of the Districts Court – Recognizing that Credit Notices may be Issued for “Bad Debt” Even if Seller Receives Proceeds of Credit Risk Insurance Dear Clients, Colleagues and Friends, Israel’s District Court has rejected the Tax Authority’s position and ruled that proceeds of credit risk insurance received in respect of the unpaid […]
Colorado’s Attorney General Issues Data Security Guidance and Remarks on Colorado’s Privacy Act
The Colorado Privacy Act (“Act“) which has passed in July 2021, made Colorado the third US state, after California and Virginia, to enact a comprehensive data protection law (see our detailed updated on the Act here). The Act will enter into force on 1 July 2023. Pursuant to the enactment of the Act, Colorado’s Attorney […]
Updates to Covid-19 Regulations for Entry Into Israel (as of Jan. 6, 2022)
Dear Clients and Colleagues, We would like to inform you that the Israeli Government has decided to change its policies regarding the entry of foreigners into Israel. Effective January 10, 2022, (the evening between Sunday and Monday) vaccinated and/or recovering foreigners from orange and green countries will be allowed entry into Israel. According to the […]
FINTECH WEEK TEL AVIV 2022
Israel’s Fintech Week is back… We are delighted to invite you to Fintech Week Tel Aviv 2022! We will be hosting the conference on its third day, 23 March 2022. Fintech Week Tel Aviv is an annual conference bringing together professionals from a host of global fintech hotspots and the financial services world to share […]
Herzog welcomes Invesco for the registration of ETFs in the Tel Aviv Stock Exchange
Herzog advises Invesco Investment Management Limited and Invesco UK Services Limited (“Invesco“) on its Dual Listing of 5 ETF’s on Tel Aviv Stock Exchange (TASE). Invesco Ltd. is an independent American investment management company that is headquartered in Atlanta, Georgia, in addition to branch offices in 20 countries. As of Dec. 31, 2021 Invesco managed $1,610.9 billion in assets […]
