Brazil’s Data Protection Law is Effective Immediately

27/08/2020 Technology &  Regulation in the Spotlight After a long period of uncertainty regarding its schedule, Brazil’s new data protection law – Lei Geral de Proteção de Dados Pessoais (“LGPD“), takes immediate effect as of 27 August 2020. In addition, the administrative enforcement and sanctions under the LGPD, which were planned to become effective this […]

NIST Outlines a Set of Principles for Explainable AI

24/08/2020 Technology & Regulation in the Spotlight The National Institute of Standards and Technology (“NIST“) has recently published a draft guidance on explainable artificial intelligence (“AI“). Based on consideration of AI systems’ interaction with human recipients, the guidance highlights four fundamental principles of explainable AI: explanation, meaningful, accuracy and knowledge limits. Explanation: AI systems must […]

Draft Legislative Framework for Autonomous Vehicles in Israel

20/08/2020 Technology & Regulation in the Spotlight On 19 August 2020, Israel’s Ministry of Transportation and Road Safety (“MoT)” has published a Memorandum of Law (“Memorandum“) aiming to create a legal framework for experiments of autonomous vehicles, while increasing competition and the public’s trust in smart transportation. The Memorandum, which would amend the Israeli Road […]

The CCPA Regulations Have Been Approved and are Effective Immediately

19/08/2020 Technology & Regulation in the Spotlight Two months after their submission, on August 14, 2020, the California Office of Administrative Law has approved the final regulations (“Regulations“) for the California Consumer Privacy Act (“CCPA“). The Regulations are effective immediately while the enforcement under the CCPA itself already began on 1 July 2020. Several updates […]

New Regulatory Guidance in the UK on AI and Data Protection

02/08/2020 Technology & Regulation in the Spotlight Following two years of research and consultation, the UK’s Information Commissioner’s Office (“ICO“) has published regulatory guidance on artificial intelligence (“AI”) and data protection. This document complements other ICO resources, including its report on Big Data, AI, and Machine Learning (“ML“) and the recently published guidelines on explaining […]

Zoom is Obligated to Improve its Security Practices as Part of a Settlement

10/11/2020 Technology & eCommerce Regulation in the Spotlight On 9 November 2020, the Federal Trade Commission (“FTC“) has announced a settlement with Zoom Video Communications, Inc. (“Zoom“), over allegations of deceptive and unfair security practices, as well as undermining a browser security feature. As part of the settlement, Zoom is required to implement a comprehensive […]

Public companies will be allowed to Publish Reports in English

The Israel Securities Authority recently announced that its proposal to allow public companies to report in English was approved by the Knesset’s Finance Committee.   Dear Friends and Clients, The Israel Securities Authority (the “ISA”) recently announced the approval of the Knesset’s Finance Committee of the ISA’s proposal to allow public companies in Israel to […]

Extension of the Regulations regarding Exemption From Licensing requirements for the Provision of Credit and Financial Asset Services

Financial Services Regulation|  Extension of the Regulations regarding Exemption From Licensing requirements for the Provision of Credit and Financial Asset Services Approval of an amendment to the Supervision on Financial Services (regulated financial services) (exemption from licensing obligation), pursuant to which the regulations will remain in force until the end of December 2021 Dear Clients […]

Draft Law for Regulation of Broker Dealer Activity in Israel

Dear Friends and Clients, On November 5, 2020, the Ministry of Finance published for public comments a Memorandum of Law: The Securities Law (Regulating the Activities of Broker Dealers), 5720-2020 (the “Memorandum of Law”). Currently, the activities of members of the Tel Aviv Stock Exchange (the “TASE”) are regulated in the TASE regulations and are […]

Payment Services Law – Draft Exemption Regulations

Issuance of draft exemption from the application of the Payment Services Law to payment instruments such as gift cards and low value payment cards The Israeli Ministry of Justice has published for the public’s comment the Draft Regulations for Payment Services (Exemption From the Application of the Law), 2020, which exclude means of payment such […]

Our Client TOKA GROUP successfully completed a $25M funding round

Glad to take part in, yet another, milestone for our client, TOKA GROUP, who successfully completed a $25M funding round. This will allow Toka to further its efforts to develop cutting-edge and lawful intelligence-gathering platforms and products, and advise governments on building an integrated cyber defense. Kudos to our partner Yair Geva and associate Helena Malinowski who led this Series […]

California Approved a New Privacy Act

05/11/2020 Technology & eCommerce Regulation in the Spotlight On 3 November, Californian voters have approved  the California Privacy Rights Act (“CPRA“). The CPRA will considerably revamp California’s data protection legislation, changing the current California Consumer Privacy Act (“CCPA“), both materially and procedurally (consequently being commonly referred to as “CCPA 2.0”). The CPRA was the subject […]

Client Update – Appointment of a Data Protection Officer

Dear Clients and Friends, We would like to draw your attention that on October 29, 2020, the Israeli Privacy Protection Authority (the “PPA“) has published a document calling on organizations to appoint a Database Protection Officer (“DPO“), who will be responsible for implementing the applicable laws for protection of personal data within the organization. The […]

UAE – ISRAEL FINTECH WEBINAR

A New Fintech Region  Enabling Synergies Between the Two Leading Fintech Hubs The Abraham Accords between Israel and the United Arab Emirates, have great economic potential for both sides. The financial market is one of the most interesting arenas for economic cooperation between the two countries, and there is potential for joint action in the […]

Bank of Israel Circular on banking transactions with the UAE

Dear Clients and Colleagues, Following the execution of the Abraham Accords Peace agreement between the United Arab Emirates (“UAE”) and the State of Israel in September, which also made reference to the Protocol for understandings on cooperation in banking and financial services executed by the UAE and the State of Israel on September 1st, the Bank […]

UK Data Regulator Enforces in the Data Broking Sector

28/10/2020 Technology & eCommerce Regulation in the Spotlight   On 27 October 2020, the UK Information Commissioner’s Office (“ICO“) has published an investigation report on data protection compliance in the direct marketing data broking sector. While the investigation mainly focused on the compliance of credit reference agencies (“CRA“), the investigation report contains important findings for […]

Partner Gilad Majerowicz Exclusive Interview to ISRAERU

Patrner Gilad Majerowicz was featured in the online magazine, ISRAERU, where he discussed Herzog’s Japan practice and the future of Japan-Israel relations. “We helped large Japanese clients to open offices in Israel. We helped many companies to make investments in high-tech companies. We helped one of Japan’s largest trading houses to set up an investment fund […]

FCA Prohibits Cryptoasset Derivatives and Exchange Traded Notes

21/10/2020 Technology & eCommerce Regulation in the Spotlight The UK Financial Conduct Authority (“FCA”) recently announced that it would prohibit the marketing, distribution and sale of cryptoasset derivatives and cryptoasset exchange traded notes (“ETNs“) to retail clients, in or from the UK. The prohibition will enter into force on 6 January 2021. The FCA clarified, […]

Our Client Coralogix recently completed its Series B financing round raising $25 million.

Our Client, Coralogix, recently completed its Series B financing round raising $25 million. Coralogix develops management and analytics tools for log files and security data of information systems. Recently, it has announced a new product that provides its consumers with data management flexibility and pricing model that allows them to set priorities for the level […]

Our client, Glassbox, has acquired its British competitor SessionCam.

We are glad to announce that our client, Glassbox, has acquired its British competitor SessionCam. Both companies provide user experience analysis, to allow their clients improve their digital assets and increase their revenue as a result. Glassbox will now be able to offer its tools to more companies in a wider variety of sectors. Thank you to […]

Update on green countries and new procedure for business visitors from green countries

Dear Clients and Colleagues, On October 15, 2020, the Israeli government amended its Public Health Order (New Coronavirus) (Home Isolation and Various Instructions) (Temporary Instruction), Amendment No. 3 – 2020 (the “Order”), updating the list of “green countries,” from which individuals can enter Israel without mandatory self-isolation. Under the current version of the Order, a […]