Purchase Tax Relief for New Immigrants
Dear Clients, Colleagues and Friends, A few days ago, a proposal was published to amend the purchase tax regulations regarding new immigrants. The proposal intends to change the purchase tax liability in connection with the purchase of a residential apartment by a new immigrant. Currently, a new immigrant who purchases a residential apartment […]
Herzog’s Comparative Guide on Key Rights in US States Privacy Laws – V3
Dear clients, colleagues and friends, The legal landscape surrounding data protection in the United States continues to evolve and expand during 2024, after significant expansion in the previous year. Since the beginning of the year, 7 additional US states (Kentucky, Maryland, Minnesota, Nebraska, New Hampshire, New Jersey and Vermont) have enacted comprehensive general privacy laws, and […]
The Continuing War and the Workplace: Protection for Spouses of Reservists
Dear Clients and Friends, In light of the ongoing state of hostilities, we hereby update you in relation to a new amendment that provides protection to the spouses of reservists. In accordance with the Veterans (Return to Work) Law, 5719-1949, employers are already prohibited from dismissing employees as a consequence of their reserve service. If […]
Israeli Companies Traded on Nasdaq & NYSE Event
We are pleased to announce the upcoming morning seminar for Nasdaq & NYSE traded companies, taking place on June 17, 2024, hosted by Greenberg Traurig and Herzog. Some of the topics that will be covered are: How to be strategic in raising capital – available financing alternatives in public markets Investor relations and staying relevant […]
New Rules on Entry to Israel from Visa-Exempt Countries
Dear Clients and Friends, Earlier this month, Israel announced a change in rules for travel to Israel. These rules apply to visitors to Israel from visa-exempt countries. Visitors from countries for which a visa is required for travel to Israel must still obtain a visa as before. The new rule also does not […]
Minnesota is the 19th US State to Adopt Comprehensive Data Protection Legislation
The Minnesota legislature granted final passage to the state’s comprehensive privacy legislation. The legislation, named the Minnesota Consumer Data Privacy Act, is expected to be approved by the governor and to take effect on 31 July 2025, less than a month after Vermont‘s and Tennessee‘s new privacy laws. The act provides similar protections to other […]
The Colorado AI Act: America’s First Comprehensive AI Law
This month, while the EU AI Act receives its final vote and is about to be officially published, and enter into force, Colorado became the first state in the US to follow suit and enact comprehensive legislation regulating artificial intelligence, with the signing of the Colorado AI Act. This landmark act aims to protect consumers […]
Published for public comments: Draft Directive for Payment Companies Regarding Ancillary Services
Dear clients and friends, We would like to bring to your attention that on May 20, 2024, the Israeli Securities Authority (the “Authority “) published for public comments a draft “Directive for Payment Companies Regarding Ancillary Services” (the “Draft Directive“), which regulates customer protection aspects regarding ancillary services provided by a payment company. Section 22(c) […]
Common Law Spouses – New Supreme Court Rulling
Dear Clients and Colleagues, We are writing to update you regarding recent developments in the conditions for recognition of common law spouses, as a result of the Supreme Court judgment, which was rendered on May 6, 2024 in ALA 3323/23 Shlomo Insurance Company Ltd. v. John Doe (Nevo 6 May 2024) (the “Judgment“) by […]
Vermont is the 18th US State to Adopt Comprehensive Data Protection Legislation
Vermont’s legislature has passed the Vermont Data Privacy Act, which is now pending the governor’s final approval. Once approved, it is expected to take effect on July 2025 (together with Tennessee‘s new privacy law). The new act appears to provide wider rights and requirements comparing to previous privacy laws in US states, featuring a privacy […]
Global Employment Event
We are excited to announce the upcoming Global Employment Law Forum, taking place on 10 June 2024, which we are hosting along with international law firm DLA Piper and the ACC. Titled “Employment Law in a Changing World,” the Forum will address some of the hottest topics which have arisen during these turbulent times marked […]
Class Action Law Memorandum (Amendment No. 16), 5784-2024
Dear Clients and Colleagues, On April 21, 2024, the Class Actions Law Memorandum (Amendment No. 16), 5774-2024 (the “Memorandum“) was published for public comments. The deadline for submitting comments to the Memorandum is June 2, 2024. This Memorandum aims to incorporate into legislation, inter alia, the recommendations included in the inter-ministerial team report that focused […]
Climate Tech From Above
Leveraging space to tackle climate change 07.05,2024 | 17:30 | Microsoft Reactor Tel Aviv Derech Menachem Begin 144, Level 50, Tel Aviv-Jaffa Join us to explore the intersection of Space Tech and Climate Tech, diving into the latest trends and innovations that shape the future of our planet and beyond. This event will bring together […]
US FTC Rule Banning Non-Compete Agreements
Dear Clients and Friends, We would like to bring to your attention an important development regarding non-compete clauses under United States law. This new rule (which has not yet taken effect) will have substantial ramifications on employment law in the United States. On April 23, 2024, the Federal Trade Commission (“FTC“) put in place a […]
Published for Public Comments: Directives for Payment Companies Regarding Corporate Governance, Compliance and Risk Management, and Regarding Outsourcing
Dear Clients and Friends, We would like to bring to your attention that on April 18, 2024, the Israeli Securities Authority (the “Authority“) published for public comments two drafts: A draft directive for payment companies regarding corporate governance, compliance, and risk management, aimed at establishing guidelines and principles that will enable a payment company to […]
CEO ELITE SERIES
This is a call for all early-stage startup founders! We are excited to invite you to a comprehensive, exclusive weekly practical workshop crafted to allow CEOs to build their startups up for success. We will meet truly exceptional mentors who will share tips for professional growth and leadership as well as tools for navigating challenges. Hurry up […]
Nebraska is the 17th US State to Adopt Comprehensive Data Protection Legislation
Nebraska is about to become the seventeenth US state to adopt comprehensive data protection legislation, after its legislature passed the Nebraska Data Privacy Act, which is now pending the governor’s final approval. Once approved, it is expected to take effect in January 2025 (together with Iowa, Delaware, New Jersey and New Hampshire). The new act […]
Maryland is the 16th US State to Pass Comprehensive Consumer Privacy Legislation
On 6 April 2024, the Maryland legislature passed the Maryland Online Data Privacy Act of 2024. Once approved by the state’s governor, as expected shortly, Maryland will become the 16th US state to adopt comprehensive consumer data privacy legislation, and it is joining Kentucky, New Jersey and New Hampshire which enacted such laws earlier in […]
Together we will overcome
Dear Friends and Colleagues, As you will have seen on the news, the State of Israel was last night subject to a barrage of incoming missiles and unmanned drones from the Islamic Republic of Iran and its proxies. Israel has spent many years developing cutting-edge technology and air defence systems, which last night […]
New Law Cancels Reporting Exemptions For New Immigrants And Mandate Reporting Of Beneficial Owners
Dear Clients, Friends, and Colleagues, We are pleased to update you that the proposed bill, aimed at canceling the reporting exemption of New Immigrants and imposing reporting obligation on Israeli companies and trusts with respect to their Ultimate Beneficial Owners, has been enacted and became law on April 2nd, 2024. This new law […]
Kentucky is the 15th US State to Adopt Comprehensive Data Protection Legislation
The Kentucky state legislature approved Kentucky’s new consumer data protection act, which is now pending the governor’s final approval. Once approved, it is expected to take effect in January 2026. The new Act joins 14 additional US states that have enacted comprehensive data protection laws in the recent years, the most recent ones that were […]
Changes to Legislation Regarding Recuperation Pay and New Ruling Regarding Weight-Based Discrimination
Dear Clients and Friends, We would like to update you regarding two important topics: First, changes to recuperation payments in 2024, namely, freezing the value of recuperation payments, reducing the payment per recuperation day while transferring the amount by which it is reduced to the State. Second, a new and precedent-setting ruling relating to a […]
Reliefs for Israeli companies whose securities are listed for trading on a stock exchange outside of Israel
Dear Clients and Colleagues, We wish to inform you that on March 12, 2024, an amendment to the Companies Regulations (Reliefs for Israeli Public Companies Listed on Stock Exchanges Outside of Israel) was published in the Official Gazette, which is intended to relax certain requirements currently applicable to Israeli companies, whose securities are traded on […]
The EU Artificial Intelligence Act
Dear client and friends, On 13 March 2024, the European Parliament approved the Artificial Intelligence Act (the “AI Act“). The AI Act stands as a pioneering legislative framework, marking the world’s first cohesive and harmonized approach to regulating artificial intelligence. To assist with understanding and navigating between the novel requirements under the AI Act, we […]
Small and Medium-Sized Corporations Financing Channels for Market Consultation
Dear Clients, We would like to bring to your attention that in a document published on the Israel Securities Authority (“ISA“) website, the ISA expressed interest in exploring avenues to diversify and refine current fundraising channels governed by the Securities Law, 1968, with the aim to facilitate financing opportunities for SMEs while safeguarding public […]
Recent Developments in IP Case Law on Generative AI (3rd Update)
China The courts in China continue to issue ground-breaking decisions concerning Gen-AI and copyrights. While in November 2023 the Beijing Internet Court ruled that AI-generated images are works of authorship (see here), last month (February 2024) the Guangzhou Internet Court ruled that a service provider of a Gen-AI tool is liable for copyright infringement for […]
War and the Workplace
Dear Clients and Friends, As combat operations continue, we would like to update you regarding the latest developments affecting the workplace, employee rights, and employer obligations. This update will focus on the following topics and significant changes: Changes relating to limitations on dismissals of individuals in reserve service; Additional days of absence granted to spouses […]
Herzog Tech Division Presents: What’s Market in SaaS?
We are happy to publish the results of a survey covering several standard legal terms used in SaaS contracts during 2023. Throughout this survey, we aimed to shed light on the most frequently discussed or negotiated legal terms, establishing a benchmark for what was considered standard in the SaaS industry during 2023. We hope you […]
The Implementation of the “Israel Invoices” VAT Reform Will be Postponed Until May 5, 2024
Dear friends and colleagues, Further to our previous client update on the matter, we would like to bring to your attention that the Tax Authority has decided to delay the implementation of the “Israel Invoices” VAT reform until May 5, 2024. In addition, we would like to inform you that on top of having […]
Protection of Patients’ Privacy in the Transfer of Medical Information Through Digital Means
Dear Clients and Colleagues, On March 5th, 2024, the Protection of Privacy Authority (the “Authority“) published a document regarding the protection of patients’ privacy in the transfer of medical information through digital means. The document examines the phenomenon and the relevant legal provisions, raising clarifications and recommendations aimed at clarifying the obligations imposed in […]
