Client Update | Postponement of the Regulated Financial Services Law regarding Providers of Services in Financial Assets
On June 1, 2018, the provisions of the Supervision of Financial Services (Regulated Financial Services) Law, 2016 (the “RFS Law”), that set out licensing requirements for the provision of services in financial assets, were scheduled to come into effect. However, on May 31, 2018, in order to prevent a regulatory vacuum, the Minister of Finance […]
Client Update | Regulatory Updates from the Capital Market, Insurance, and Savings Authority | June 2018
On the 3rd and 6th of June 2018, the Capital Market, Insurance and Savings Authority published its regulatory updates for June 2018, including several directives and draft directives. To read the full update (in Hebrew) – click here.
Client Update | Prohibition Against Trading Foreign Securities – General Permit Conditions according to Section 49A – Draft for Public Comment
Following our Client Update of November 9, 2017 (to view the client update – click here), the Israeli Securities Authority (“ISA”) has published a draft for public comment regarding the policy of granting permits to global stock exchanges and broker-dealers who wish to provide services to the Israeli public. According to the Securities Law, it is illegal […]
Client Update | Communications Law (Bezeq and Transmissions) (Amendment No. 72), 2018
Dear Clients and Friends, On May 23, 2018, the Israeli Parliament introduced the Communications Law (Bezeq and Transmissions) (Amendment No. 72), 2018 (the “Amendment“). The Amendment refers to Section 30A of the Communications Law (Bezeq and Transmissions), 1982 (the “Law“), commonly known as the “Spam Law”. The Amendment addresses two main aspects: 1. Broadening the […]
Client Update | Changes in Cost-Control Drug Pricing Policy | June 2018
During the first half of 2018, four amendments to the legislation on cost-control of drug pricing [of preparations] in Israel were published. These amendments, some of which were effected immediately, and some of which will be implemented gradually, significantly change the cost-control mechanisms applied to prescription drugs in recent years and are expected to affect […]
Client Update | Prohibition Against the Sale of Electronic Waste
We would like to bring your attention to the latest guidelines from the The Ministry of Environmental Protection regarding the prohibition against the sale and disposal of accumulated electronic waste. For the full update (in Hebrew), click here.
Technology and Regulation Updates June 2018
We are pleased to present our June edition of the Technology & Regulation Client Update, which includes several notable regulatory and industry compliance developments in the fields of data protection, digital advertising, content, security and app compliance. These include the following: Facebook Page Administrator Responsible for Data Processing; The new European Data Protection Board Updated […]
Client Update | Rules for Commercial Engagements of Health Institutions
On the 18th of June, 2018, the Ministry of Health published a circular pertaining to the rules for the commercial engagements of health institutions, superceding the previous circular, last reviewed in 2010, due to come into effect on the 1st of November, 2018. For the full circular (in Hebrew), click here.
Client Update | Practical Guidance for Digital Marketing Companies for Exercising User Rights
We are pleased to provide you with this client update which contains a Practical Guidance for Digital Marketing Companies for Exercising User Rights. This Practical Guidance was prepared by Ido Manor from our Technology & Regulation Department to help digital publishers and advertisers (such as ad networks, agencies, DSPs and SSPs) find resources and tools that may help them meet new legal […]
Client Update | Technology & Regulation
We are pleased to introduce you to our July edition of the Technology & Regulation Client Update, which includes several notable regulatory and industry compliance developments in the fields of digital advertising, content, data privacy, security and app compliance. These include the following: Google, Facebook, Microsoft and Twitter have introduced an Open Source Platform Promoting […]
Client Update | Deduction of Input Tax by Holding Company
Recently, a District Court judgement relating to the issue of the deduction of input tax by a holding company was issued (the “Judgement“). The Judgement was given on June 28, 2018, in the case of Elbit Medical Imaging Ltd. v. the Regional VAT Director (the “Elbit case“). In this regard, under the Israeli VAT Law, input tax […]
Client Update | Israeli Broker-Dealer Legislation
The Israeli Securities Authority (“ISA”) has published a draft for the public’s comments regarding Bill regulating Broker-Dealers activity. Brokerage activity in Israel, as well as the activity of dealers who do not operate as Trading Platforms (as defined in the Securities Law), is currently not supervised and regulated and create a significant regulatory gap. The […]
Client Update | Increased Enforcement and Inspection by the Protection of Privacy Authority
To read the full update, in English, click here.
Client Update | The Israeli Innovation Authority’s New Special Licensing Rules for Multinational Corporations
The Israeli Innovation Authority (IIA), formerly known as the OCS, has published important new rules for multinational corporations regarding licensing of knowhow that was developed with IIA funding. The new rules enable Israeli and non-Israeli multinational corporations to license their IIA-funded knowhow within their group entities outside of Israel (“MNC Group License”), subject to IIA […]
Client Update | Technology and Regulation
We are pleased to introduce you to our new edition of the Technology & Regulation Client Update, which includes notable regulatory and industry compliance developments from the past month, in the fields of privacy and data protection, cyber-security, digital advertising, content and app compliance. These include the following: GDPR compliance warnings by the French Data […]
Client Update | The Israeli Tax Authorities Set New Safe Harbour Rules for Certain Transfer Pricing Transactions
The Israeli Tax Authorities (“ITA”) recently published two safe harbour circulars, which have been in draft mode for several months, stating the ITA’s expected profit levels for marketing services and for low-risk distributorship activities carried out in Israel by Multinational Entities (“MNE”), as well as providing guidance on non-value-added services. Herzog Fox & Neeman, together […]
Client Update | Labour and Employment | September 2018
With the summer holidays behind us, we would like to bring to your attention some recent legal updates and case law developments, which include: Amendment to legislation, permitting all employees to refuse to work on the weekly rest day; New rules regarding the withdrawal of severance pay from pension arrangements; Updates to the model rules […]
Client Update | Technology and Regulation
We are pleased to introduce you to our new edition of the monthly Technology & Regulation Client Update, which includes a variety of notable regulatory and industry compliance developments in the fields of personal data protection, digital advertising, content, data security and app compliance. These include the following: Data protection legislative trend in the US: […]
Tax Client Update | Israel Ratifies the MLI
Recently Israel informed the OECD that it has ratified the Multilateral Convention to Implement Tax Treaty Related measures to prevent Base Erosion and Profit Shifting (“MLI”), which was signed by the Minister of Finance on 7 June, 2017. The MLI is expected to come into force with respect to the relevant Israeli tax treaties (as […]
Special Client Update | Developments in US Privacy Legislation: Practical Overview and Implication
In tandem with global attention focused upon tightening data protection issues, several legislators and stakeholders in the US have reached the understanding that in today’s economic and technological environment, certain gaps in legislation, especially in comparison with EU legislation (in particular the GPDR), must be bridged. Recent (often vociferous) calls from the public, research institutions, private corporations […]
Client Update | Technology and Regulation
The past month was notable in terms of the extent of regulatory and industry developments in the fields of data privacy, cyber security, digital advertising, content and app compliance. In this edition of our monthly Technology & Regulation Client Update, you will find the following: California’s and Twitters’ measures concerning bots and Election Integrity; The first […]
Client Update | Public Offering of Structured Notes – The Structures Are Back
The Israeli Securities Authority (the “ISA”) has published draft regulations (the “Draft Regulations”) regarding public offering of structured notes for public comment. In the ten years since the global financial crisis, no structured notes have been issued to the public in Israel. The ISA recently published Draft Regulations that will allow the issuance of structured notes […]
ARE WE THERE YET?! Challenges of the Autonomous Vehicle Industry | 14.3.17
Herzog Fox & Neeman and DLA Piper are pleased to announce that Are We There Yet?!, the first major Autotech event in Israel, has been rescheduled for Tuesday, March 14, 2017. Join us as we explore the challenges which drive innovation within the industry and the spillover effects these changes have on the wider tech ecosystem. […]
Herzog Fox & Neeman’s Annual Compliance, Export, Defense and Homeland-Security Conference
2017 is already shaping to be a year of global geopolitical, economic and regulatory uncertainty, at all levels. In Israel, the “compliance revolution” appears to have finally arrived, resulting in greatly increased government enforcement of regulatory, compliance and financial regimes. For more information & registration – click here
Israel’s First Ever International Arbitration Conference: a half-day seminar in Tel Aviv
Herzog Fox & Neeman is delighted to invite you to Israel’s first ever International Arbitration Conference co-sponsored by the London Court of International Arbitration (LCIA), one of the world’s leading arbitration institutions. For more information and registration – click here
IATI and Herzog Fox & Neeman Morning Session New Rules of the Innovation Authority (the OCS) regarding the Transfer of Knowhow and Additional Updates
The Innovation Authority (previously known as the OCS) is about to publish important new rules regarding use and management of knowhow that was funded by the OCS. The new rules will enable grant recipients to license OCS-funded knowhow to foreign corporations subject to a reduced payment to the OCS. This reform will make it easier […]
International Real Estate Investment Conference | 11.05.17
Herzog, Fox and Neeman, in collaboration with the Platinum Department of Bank HaPoalim and Poalim Capital Markets, will be holding a conference on real estate investment abroad. The conference will take place on Thursday (11th of May) and is by invitation only. For additional information – click here.
The New Data Security Regulations: Practical and Comparative Aspects | Tuesday | May 23, 2017
Herzog Fox & Neeman together with Baker & McKenzie LLP are pleased to invite you to a morning seminar on cyber-security regulations, which will be held on Tuesday, May 23, 2017. For more details and registration – click here
Herzog Fox & Neeman Event | Destination Africa: Israeli Innovations, Opportunities and Challenges
The Africa: Continent of Tomorrow Series seeks to advance the dialogue between public and private initiatives in Israel and opportunities in countries in Africa with the participation of government agencies, NGO’s, academics, start ups and specialists in development. The Series will be a meeting point between professionals doing business in Africa and an informal platform to share lessons, foster […]
Global Equity Plans – How to get them right! | A Morning Seminar for HR, Reward, Legal and Finance Professionals Interested in Implementing an Effective and Compliant Global Equity Plan
Almost every company in the Israeli market offers its employees an equity benefit plan, whether they’re a global company offering equity to employees of an Israeli subsidiary or an Israeli company offering equity to its employees in Israel and worldwide. Regulations are different in each country and can have a huge impact on which awards […]