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 […]
Client Update | Tax Positions Reporting Obligations
The Israel Tax Authority (“ITA”) has published a list of tax positions, which require reporting, with regard to income tax, VAT and import taxes. As opposed to an income tax related position, which must be reported in the yearly tax return, in the case of VAT and import taxes (Customs, Purchase tax and VAT on […]
Client Update | “Innovation Visa” Program for Foreign Entrepreneurs
We would like to draw your attention to a new trial visa program for foreign entrepreneurs. This program will allow foreign entrepreneurs to receive work visas for the development and establishment of technological ventures in Israel. The program is being operated for an initial three year pilot period in which approved entrepreneurs will be able […]
Client Update | Labour & Employment | July 2017
The summer is already upon us and “cucumber season” is in full swing, but developments in the labour law and labour relations arena continue. In this update we bring you the latest developments, which are likely to affect a range of topics in labour relations and will require preliminary preparation. For the full update (in […]
Client Update | Technology & Regulation #44
We are pleased to introduce you to our July edition of the Technology & Regulation Client Update, which includes a variety of 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 | Antitrust & Competition Israeli Supreme Court Upholds Decision to Block Indirect Purchasers’ Class Action Against an International Cartel, but Warns That the Result Is Undesirable
This short update addresses a recent decision of the Israeli Supreme Court to uphold the decision of the Central/Lod District Court concerning service overseas of an antitrust class action filed by an indirect purchaser seeking damages under the Israeli Restrictive Trade Practices Law, 1988. In this case, the plaintiff argues that the international “LCD-Panels cartel” harmed Israeli consumers who […]
Client Update | The Capital Market Authority’s Regulatory Updates | August 2017
On August 2, 2017, the Capital Markets, Insurance and Savings Authority Capital Markets and Securities Department published a set of regulatory updates for the month of August 2017. To read the full client update (Hebrew) – click here.
Client Update | Cancellation of Assignment of Copyright
On August 7, 2017, in the matter of CF 47957-12-13, Dotan Israel v. Twist Animation Ltd. et al., the Tel Aviv District Court held that a fundamental breach of a copyright assignment contract entitled the assignor to rescind the contract, resulting in the return of the rights to the assignor. The Court also imposed statutory damages […]
Client Update | Cancellation of the Database Registration Fee and the Periodic Fees
On August 9, 2017, the Privacy Protection Regulations (Fees) (Cancellation), 2017 (the “Regulations”), were published in the Official Government Gazette (the “Gazette”). The Regulations cancel the Privacy Protection Regulations (Fees), 2000. Prior to the publication of the Regulations, each database owner was liable to pay a registration fee when registering a database, and in most cases, was […]
Client Update | Compensation for Service Inventions where a Collective Labor Arrangement Applies
On May 17, 2017, the Compensation and Royalties Committee under Section 134 of the Patent Law, 1967 (respectively, the “Law” and the “Committee”) held that a collective labor arrangement that deals, inter alia, with compensation for inventions in the course of employment constitutes an agreement between the employer and the employee for the purposes of […]
Client Update | Technology & Regulation #45
We are pleased to introduce you to our August edition of the Technology & Regulation Client Update. Although the pace of regulatory developments is relatively low during the summer period, the past month has seen a few important updates in the fields of technology compliance, digital advertising, content and information privacy regulations. to read the […]
Client Update | Israeli Corporate Tax-Reorganization Reform
On August 6, 2017, long-awaited legislation was finally published. This legislation relaxes many restrictive limitations previously imposed by the Israeli tax-free reorganization law (the “Reform”). The Reform expands the availability of corporate Israeli tax-free reorganizations, such as mergers, divisions, stock-for-stock exchanges, and other forms of intra-group asset transfers. To read the full client update- click here.
Client Update regarding the Registration and Licencing of chemicals – Schedule regarding European Legislation and impending Israeli Law
We would like to bring your attention to a number of key updates in the registration and licencing of chemicals in the European Union and in Israel. As the deadline for the registration of chemicals in the European Union approaches, alongside the draft that is being prepared for a designated law that will regulate the […]
Client Update | Knowledge Base in the Environmental Regulation Forum
At the beginning of this new year, we wish you a productive and fruitful year ahead. Our department would be happy/delighted to assist in all areas of environmental law and aspects of industrial production. To read the full client update (Hebrew) – click here.
Client Update | Key Innovations in Contaminated Land Policy
We would like to update you with a number of important updates recently published by the Ministry of Environmental Protection regarding its policy regarding the treatment of polluted land. To read the full client update (Hebrew) – click here.
Client Update | Technology & Regulation #46
The summertime is over and the recent months have witnessed a significant number of regulatory updates, industry policy developments, courts decisions and regulatory guidance. In this September edition of our Technology & Regulation Client Update, we have collected and summarized the most notable updates in the fields of technology compliance, digital advertising, content and information […]
Client Update | Supervision of Financial Services Regulations (Organised Financial Services) (Licence-exempt) (Temporary provisions), 2017 – Second Draft
Further to the licencing requirement of bodies providing credit services (which are not banks or financial institutions), which came into effect on the 1st of June 2017 and in light of the broad version of the definitions “granting credit” and “provision of service in a financial asset” in law, as defined within the law regarding […]