Ad Platform Faces $2 Million Fine Over COPPA Violation

The Federal Trade Commission (“FTC“) announced a settlement with OpenX Technologies, Inc. (“OpenX“), an online advertising company, under which OpenX agreed to pay $2 million to the FTC. The settlement resolves the FTC’s claims that the company unlawfully collected personal information from children under 13 without their parents’ permissions, and thereby violated the federal Children’s […]

Updates to Covid-19 Regulations for Entry into Israel

Dear Clients and Colleagues, In accordance with the Israeli government’s latest Coronavirus restrictions, the following countries will be designated as “red” as of tonight at midnight: United Arab Emirates, Ireland, Norway, Spain, Finland, France and Sweden. As of December 22, 2021, the following countries will be designated as “red”: United State, Italy, Belgium, Germany, Canada, […]

Draft Regulations for the Supervision of Financial Services published for public comments

Draft Regulations for the Supervision of Financial Services (Regulated Financial Services) (Exemption from the licensing obligation) 2021, published for public comments Dear clients and friends, We would like to bring to your attention that the Ministry of Finance published a few days ago, draft Regulations for the Supervision of Financial Services (Regulated Financial Services) (Exemption […]

New business opportunities for ETFs in Israel

On November 22, 2021 the Israeli Securities Authority (“ISA“) issued its decision to permit Exchange Traded Funds (“ETFs“) listed on the Standard listing segment of the London Stock Exchange (“LSE“) to benefit from the dual-listing relief. Please note that up until now, ETFs had to be listed on the Premium listing segment of LSE. We […]

Congratulations to our client Celsius on its acquisition of the Israeli startup GK8

Congratulations to our client Celsius, the Israeli-American crypto company, on its acquisition of the Israeli startup GK8 which provides security solutions for safekeeping and managing digital assets. Our partner Adina Shapiro and associate David Azimov led the work on this deal alongside partners Karen Elburg, Shachar Porat, Ehab Farah, Ofer Granot, Maayan Hammer and associates Yuval Haimovich, Eti […]

Leaderim have signed an agreement for the sale of its business to the Willis Watson Tower group

Leaderim, leading insurance broker in Israel, arranging commercial insurance portfolios and providing independent insurance consultancy services, have signed an agreement for the sale of its business to the Willis Watson Tower group, a leading global insurance advisory, broking, and insurance solutions group currently traded on Nasdaq valued at $29 billion. The seller was represented by […]

Congratulations to our client Minute Media on its acquisition of Wazimo

Huge congratulations to our client, Minute Media, a leading global technology and content company, on its acquisition of Wazimo. Wazimo combines engaging content with advanced technology to drive audience growth and monetization. We have been working and advising Minute Media from its founding day and every step of their way. Our partners Rafael Herbst, Liat Shaked-Katz, Dan Sharot, […]

Update regarding entry to Israel – November 28th, 2021

Dear Clients and Colleagues, In accordance with the Israeli government’s latest decision, all non-Israeli citizens are restricted from entering Israel, except in exceptional humanitarian cases which require the prior approval of a special committee of the Ministry of the Interior. Foreign experts holding a valid B-1 Visa (permitting continued entry/exit) stamped in their passport may […]

EDPB Publishes Guidelines on the Interplay Between Territorial Scope and International Transfer under the GDPR

Technology & eCommerce Regulation in the Spotlight In the aftermath of Schrems II and the publication of the new Standard Contractual Clauses by the European Commission, the European Data Protection Board (“EDPB“) has published its guidelines on the interplay between the territorial scope of the General Data Protection Regulation (“GDPR“) and the provisions governing transfer […]

Israeli Tax Authority’s Reform on Solvents and Lubricating Oils

Dear friends and colleagues, Further to our client update from September 14, 2021 about the solvents reform (read here), we would like to bring to your attention that these orders will come into force on December 1, 2021 and, accordingly, the Knesset Finance Committee is expected to discuss the orders on November 23, 2021. Under […]

Roadshow Event by Calcalist & Poalim Hi-Tech

Looking for the one? Top leading venture capital in Israel are looking for their next investment, and you have the chance to meet them. We are happy to host the unique Roadshow event, organized by Calcalist and Poalim Hi-Tech. Monday 06/12/2021 | 09:00-13:00 | Herzog Tower For more information and applications >> click here

Crypto Regulatory Updates

Dear clients and friends, We are pleased to highlight below some key regulatory developments related to the regulation of cryptocurrencies and cryptoassets in various jurisdictions from the recent weeks. We will be happy to further review and elaborate on each of these updates, their implications and any other questions you may have. Kind regards, Ariel […]

Recommendations of the International Taxation Reform Committee

Dear Clients, Colleagues and Friends, We would like to update you that the Israel Tax Authority Committee for International Tax Reform, headed by CPA (Advocate ) Roland Am Shalem, has submitted  its recommendations to the Director of the Israel Tax Authority (the “Committee” and the “Committee Report” respectively). The Committee Report was prepared by the […]

Success Stories – Private Canadian Investments in Israeli Tech Companies

Canada Israel Chamber of Commerce, in cooperation with Bennett Jones and Herzog, Fox and Neeman, is proud to invite you to our next event! Join us on November 23, 2021 for the Maple & Honey Forum and Canada-Israel Chamber of Commerce special presentation on Success Stories – Private Canadian Investments in Israeli Tech Companies. This […]

The Anti-Money Laundering Authority Reporting Guidelines for Financial Assets Service Providers and Credit Service Providers

Dear Clients and Colleagues, On October 20, 2021, Israel’s Money Laundering and Terror Financing Prohibition Authority (“IMPA”) published its reporting guidelines for Financial Asset Service Providers and Credit Service Providers (the “New Reporting Guidelines”). The New Reporting Guidelines were published as a complementary step to the Prohibition of Money Laundering (Identification, Reporting and Recordkeeping Duties […]

China’s New Data Protection Law Enters into Effect and Further Regulations are Expected

China’s new sweeping data protection law – the Personal Information Protection Law (hereinafter “PIPL“) has entered into force on 1 November 2021. The Cyberspace Administration of China (“CAC“) will enforce this new law and is expected to enact further regulations, including with regard to international data transfers, as elaborated below. Similarly to other key data […]

Congratulations to our client Augury for securing $180 million in a new funding round

Huge congratulations to our long-standing client, Augury, the leading Industrial IOT and AI-driven Machine Health solution provider, for securing $180 million in a new funding round and bringing its valuation to over $1 billion!  The Series E round was led by Baker Hughes, a global leader in energy technology, and includes participation from new investor […]

Congratulations to our client Autobrains, for raising $101 million in Series C funding

Huge Congratulations to our long-standing client, Autobrains, a developer of first-of-its-kind self-learning artificial intelligence technology for assisted and autonomous driving, for raising $101 million in Series C funding. The round was led by Singapore-based global investment leader, Temasek New and existing investors also participated in the round, including Knorr-Bremse AG, VINFAST LLC, BMW Group, and Continental. Our partners Hanan Haviv and Dan […]

Proposed Legislation Offers Tax Benefits to High-Tech Companies and High-Tech Investors

Dear Clients, Colleagues and Friends, The Ministry of Justice of the State of Israel recently published a memorandum for a new law to incentivize the Israeli high-tech industry (the “Memorandum“). The proposed legislation aims to strengthen the Israeli high-tech industry by way of extending certain tax benefits to Israeli high-tech companies and investors in such […]

The final rules for foreign nationals to enter Israel as of November 1st

Dear Clients and Colleagues, We are pleased to inform you that the final rules for foreign nationals to enter Israel as of November 1, 2021, was published today. According to the new rules, vaccinated foreign nationals will be permitted to enter into Israel, subject to the following terms and conditions: 1. Cumulative threshold conditions The […]

French Supervisory Authority Publishes White Paper re Means of Payment and Payment Data

The French data protection supervisory authority (“CNIL“) has recently published a new white paper on payment data and means of payment (“White Paper“). The area of means of payment is experiencing significant transformations, which are reflected by increased use of contactless payment, emergence of cryptocurrencies as means of payment and a decline in the use […]

New Policy for Tourist and Entry into Israel

Dear Clients and Colleagues, We are happy to inform you of updates to the policy for entry into Israel. As of November 1, 2021, foreign nationals will be permitted to enter into Israel, under the following terms: Foreign nationals who received two doses of the Pfizer vaccine, and, on the date of entry into Israel, […]

Fintech: Firing on All Cylinders

Fintech deal-making has n-e-v-e-r been hotter. Coming out of the pandemic, fintechs have proven their value in a changed world for consumers and business, with online preferred to face-to-face transactions, building on a decade of advances in mobile payments, online lending, digital banking and back-office innovation. There is a powerful mix of factors converging this […]

FTC Puts More Than 700 Companies on Notice of Penalty Offenses for Endorsement Violations

Technology & eCommerce Regulation in the Spotlight The Federal Trade Commission (“FTC“) has recently announced a widespread enforcement action against deceptive endorsement practices. The FTC has sent Notice of Penalty Offenses (“Notice“) to more than 700 companies, placing such companies on notice that they could incur civil penalties of up to $43,792 per violation, if […]

Proposal to amend the Rules applicable to compensation for research papers

Proposal to amend the Rules applicable to compensation for research papers (Rules for regulating investment advice, investment marketing and investment portfolio management (receiving benefits for research), 2020) Dear clients, The publishing of research papers has recently come under review of the Israel Securities Authority (“ISA“). As is well known, the purpose of research papers is to […]

Recognition of Foreign Vaccinations and Update on Short Term Work Visas

Dear Clients and Colleagues, We would like to update you on the following subjects: ​A. Recognition of  vaccinations given abroad and for those recovered abroad Recently, the Ministry of Health issued new regulations regarding the entry and exit from Israel of foreigners (which are not yet in full effect), in light of the Covid-19 virus. The […]