Herzog Fox & Neeman Welcomes New Partner | Iris Wineberger
We are delighted to announce that, as of 1 January, 2017, Adv. Iris Weinberger has joined Herzog Fox & Neeman as a Partner to head our VAT, Indirect Taxes, Customs & International Trade Department. Adv. Weinberger specializes in the field of VAT and Customs, and until recently served as the Senior Deputy General Counsel at […]
Client Update|Labour and Employment Department | Summary of 2016 in Employment Law and Trends Towards 2017
During the year we updated you, on an ongoing basis, of the major changes in legislation and important judgments handed down by the labour courts. With the start of 2017, we have chosen to bring you a concise overview of the significant and central new developments that we have seen in legislation and case law […]
Pharma Compliance Programs
The 24th Amendment of the Pharmacists Ordinance [New Version], 1981, effective as of October 2016, introduced a major reform in the enforcement mechanisms of the pharmaceutical regulation. For the first time, office holders in pharmaceutical companies are exposed to personal criminal liability if they in supervision and prevention of violations, and the companies themselves are exposed to […]
Client Update | ISA Update to Reportable Credit Events
On March 19, 2017 the Israel Securities Authority published an update to its legal opinion regarding reportable credit events. The application of such update is of great importance given the approaching deadline for the publication of the annual reports for the year 2016. To read the full update (Hebrew) – click here
Client Update|Labour and Employment Department | Keep your Finger on the Pulse: A New Court Ruling Regarding Fingerprints and Biometric Attendance Clocks
On March 19, 2017 the Israel Securities Authority published an update to its legal opinion regarding reportable credit events. The application of such update is of great importance given the approaching deadline for the publication of the annual reports for the year 2016. To read the full update (Hebrew) – click here
Client Update | Technology & Regulation #40
We are pleased to introduce you to our March edition of the Technology & Regulation Client Update. The past month has been marked by a variety of regulatory and compliance developments in technology compliance, digital advertising, big data, content, privacy and information security regulations. In this edition of our Client Update, we have concentrated on […]
Client Update | New Draft Guidelines Regarding Industrial Wastewater Monitoring
We would like to call your attention to the new draft guidelines regarding industrial wastewater monitoring published recently for public comments by the Ministry of Environmental Protection, the Ministry of Health and the Water Authority (“Wastewater Monitoring Unified Policy”). To read thr full update (Hebrew) – click here
Client Update | Companies Incorporated in Israel are now Entitled to List on the Hong Kong Stock Exchange
The Hong Kong Stock Exchange (HSKE) announced that companies incorporated in Israel would be able to list on the HKSE, since the Israeli corporate laws are materially similar to those of Hong Kong and provide adequate protection for investors. To read the full update (Hebrew) – click here.
Client Update | Small Corporations are now entitled to publish semiannual reports
On March 30, 2017 a new amendment to the Securities Regulations (Periodic and Immediate Reports), 1970 was promulgated in the Official Gazette (the “Amendment“). The Amendment provides that a Small Corporation, the bonds of which are currently not held by the public, may publish semiannual reports instead of publishing reports on a quarterly basis. To […]
Client Updates | The Capital Market Authority’s Regulatory Updates | April 2017
On April 2, 2017, the Capital Market, Insurance and Savings Authority published a set of regulatory updates for April 2017. To read the full update (Hebrew) – click here
Client Update | Morality of Payments to Suppliers Law, 2017
On March 30, 2017 (the “Commencement Date”), the Morality of Payments to Suppliers Law (the “Law”) was enacted. The purpose of the Law is to determine the maximum periods for payments to be made to suppliers for the sale of goods, provision of services or performance of work. The Law, which dramatically changes the morality of payments […]
Client Update | Labour & Employment | Shortening the Work Week and Extending Maternity Leave
Developments in the field of labour law and labour relations are ceaseless. In this update, we present you with the latest key developments regarding the shortening of the work week, new arrangements relating to night work, the extension of paid Maternity Leave (the name of which was recently changed to the “Birth and Parenting Period”) and […]
Client Update Protection of Privacy Regulations (Information Security), 2017
At the end of March, 2017, the Constitution, Law and Justice Committee of the Knesset approved the Privacy Protection Regulations (Information Security), 2017 (the “Regulations”), which will apply to all entities in Israel that manage or hold a database, as defined in the Protection of Privacy Law, 1981 (the “Law”). To read the full update […]
Special Client Update | GDPR Compliance Playbook
In May next year, the new European data protection reform (the General Data Protection Regulation, or “GDPR”) will kick off and will dramatically change the current EU data protection regulatory framework. You can read in our previous special client update about the main changes set out in the GDPR. To read the full update – click here
Client Update | Technology & Regulation #41
We are pleased to introduce you to our April edition of the Technology & Regulation Client Update, which includes a variety of industry and regulatory developments in the fields of technology compliance, digital advertising, privacy protection and content. To read the full update – click here
Client Update | Regulatory Update from Capital Markets Authority | May 2017
On the 3rd of May 2017, the Capital Markets, Insurance and Savings Authority published a summary of regulatory updates for May 2017.
Client Update | Wastewater Laws Updated
We would like to inform you that an amendment to the laws regarding factory wastewater has been published (Corporation of Water and Sewage Laws [factory waste disposal into sewage tunnels], 2014), including a number of important updates, detailed herein. This amendment was published following a public hearing into the former version. To read the full update – click here.
Client Update | Technology & Regulation #42
We are pleased to introduce you to our May edition of the Technology & Regulation Client Update, which includes a variety of regulatory and sector standard developments in the fields of technology compliance, digital advertising, content and information privacy regulations. to read the full update – click here
Client Update | A New Judgment of the Supreme Court in Respect of the Conditions Required to Establish a Joint Holding of Shares and the validity of a Pre-Ruling Issued by the ISA
In a recently published judgment, the Supreme Court discusses two main issues: the conditions required to establish a Joint Holding of shares and the validity of a pre-ruling issued by the Israeli Securities Authority (ISA). To read the full client update (Hebrew) – click here.
The Supervision of Financial Services (Regulated Financial Services) Law, 5776-2016: Draft Legal Position Paper and Draft Regulations Regarding Territorial Application of the Law and Exemption From Licensing Requirement.
Dear Clients and Friends, On 28th May 2017, the Capital Market, Insurance and Savings Authority (the “Capital Market Authority”) published a draft legal position paper regarding territorial application of the Supervision of Financial Services (Regulated Financial Services) Law, 5776-2016 (the “Law”), which came into force in respect of the provision of credit on 1st June 2017, and […]
Client Update | Antitrust | “Price Tag” in contravention of Antitrust Laws
Five years have passed since the Antitrust Commissioner was given the authority to impose monetary sanctions on companies and individuals for violations of the Restrictive Trade Practices Law (1988). There is no doubt that this authority has changed the manner in which the antitrust laws in Israel are enforced. For the full article (in Hebrew) […]
Client Update | Retention Mechanisms of Founders and Key Employees (Reverse Vesting and Holdback)
On June 12, 2017, the Israel Tax Authority (the “ITA”) published on its website a circular (the “Circular”) addressing the tax implications of two major retention mechanisms of founders and key employees (the “Key Persons”) that are commonly used in the high tech industry: (i) the Reverse Vesting mechanism whereby shares of Key Persons are […]
Client Update | Option Tax Ruling | Taxation of Awards Granted to Relocating Employees
On May 28, 2017, the Israeli Tax Authority (the “ITA“) published a summary tax ruling in respect of the taxation of options and RSUs granted to relocated employees (the “Ruling“). Although these types of rulings have been granted by the ITA over the past few years, this is the first time the ruling is being […]
Client Update | Draft Regulation regarding Safety in the Workplace – Hazardous Chemical Processes and Exposure to Harmful Noise
We would like to draw your attention to the recently published draft regulations for public comment as part of regulatory impact assessment process (RIA) on two substantive issues: Safety procedures surrounding hazardous chemical processes Exposure to harmful noise For the full article (in Hebrew) – click here
Client Update | Announcing the IIA / OCS New Licensing Rules
Dear Clients and Friends, The Israeli Innovation Authority (previously known as the Office of the Chief Scientist of the Israeli Ministry of Economy) (“IIA” / “OCS”) has published important new rules regarding use of knowhow that was funded by the IIA. The new rules enable IIA-funded companies to license IIA-funded knowhow to foreign corporations subject […]
Client Update | Technology & Regulation #43
We are pleased to introduce you to our June edition of the Technology & Regulation Client Update, which includes several industry and regulatory developments in the fields of technology compliance, digital advertising, content and information privacy regulations. To read the full update – click here
Client Update | Policy for the Employment of Foreign Workers in Unique Technological and Automation Roles
We would like to draw your attention to a new policy regarding the employment of foreign workers in unique technological and automation roles (not including expert employees paid expert rates). The policy is aimed at regulating the procedure for the submission of applications for receipt of permits for foreign workers in this field and the manner in […]
Crowdfunding Regulations – Notice to companies that wish to register as an Offer Coordinator
Following the publication of the Securities Regulations (Offer of Securities by an Offer Coordinator), 2017 in the Official Gazette, on June 29, 2017 the Israel Securities Authority published a notice to companies that wish to register as an Offer Coordinator (a platform for crowdfunding) detailing the information to be included in their registration application. To read the […]
Client Update | The Capital Market Authority’s Regulatory Updates | July 2017
On July 2, 2017, the Capital Market, Insurance and Savings Authority published a set of regulatory updates for July 2017. To read the full update (in Hebrew) – click here.
Client Update | Tax Positions Reporting Obligations – Update
Further to our client update from the 5th of March 2017 regarding the submission of a special report in the event that a VAT dealer adopts a position in contravention of the positions subject to reporting under the VAT and import tax laws, published by the Israeli Tax Authority. The ITA has once again extended the […]