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 […]
Published for Public Comments: Rules for License Applications and a Directive Regarding Technological Means and Information Security
Dear Clients and Friends, We would like to bring to your attention that on February 26, 2024, the Israeli Securities Authority (the “Authority“) published for public comments a draft “Licensing Rules for Payment Services or Basic Initiation Services, 2024”, which proposes rules to determine the details and documents that an entity applying for a payment […]
Israeli Employment Law – Did you Know? Gender Wage Gaps – Upcoming Reporting Obligation
Dear Clients and friends, We are pleased to present you with our quarterly update for Q1 of 2024, which we have dedicated as a reminder of the upcoming deadline for preparing and publishing local gender wage gap reports. This update obviously cannot cover all aspects of this complex issue, but it will hopefully provide […]
Proposed bill to cancel reporting exemptions for new immigrants and mandate reporting of beneficial owners
Dear Clients, Friends, and Colleagues, On February 21, 2024, the Ministry of Finance released a proposed bill aimed at enhancing transparency in tax law and aligning with international information exchange standards. This bill, currently open for public comment, has not yet been ratified by the Israeli government or Knesset. It’s crucial to note that […]
FinTech-Aviv Annual Summit 2024
FinTech-Aviv’s Annual Summit will bring together Start-Ups, Investors and Corporates, seeking quality content, networking and groundbreaking FinTech innovations! We are happy to be hosting the FinTech-Aviv – The Israeli FinTech Association ‘s annual summit in Herzog’s conference center. The summit brings together an amazing community of fintech enthusiasts, start-ups, investors and corporates, to network and hear […]
Recent Developments in IP Case Law on Generative AI (2nd Update)
This brief review covers the latest updates on intellectual property case-law related to generative AI and AI in general from various countries. Patents US New (?) Guidelines for the examination of AI-assisted inventions On February 12, 2024, the U.S. Patent and Trademark Office (the “USPTO”) published an inventorship guidance for AI-assisted inventions (the “Guidance”). […]
The Adoption of the UNCITRAL Model Law into Israeli Legislation
Dear Clients and Friends, We are pleased to update that on 12 February 2024, the new International Commercial Arbitration Law, 5784-2024 successfully passed its third reading in the Knesset plenum. Consequently, after much anticipation, the central tenets of the UNCITRAL Model Law have been officially incorporated into Israel’s legislative framework and will apply to […]
Herzog partners with PIL Global to deliver data driven securities laws advice
Herzog has proudly integrated PIL Global’s regulatory platform. Using PIL’s platform we leverage streamlined most up to date regulatory information including recent cases, rulings and regulatory data bases, and deliver cutting edge securities laws and regulatory advice.
A proposed directive for payment companies regarding the safeguarding of customers’ funds was published for public comments
Dear Clients and Friends, We would like to bring to your attention that on 31 January, 2024, the Israeli Securities Authority (the “Authority“) published for public comments a proposed directive that regulates the required safeguarding model for the protection of funds of payments companies’ customers, pursuant to its authority under the Regulation of Payment Services […]
Funding and Structuring Defense Tech Startups
Join us in a stimulating panel on tech’s hottest field: defense. Industry expert and giant of Israeli-based global venture capitalism Michael Eisenberg is joined by leading lawyers, Herzog’s Tech and M&A department head Yair Geva and Public International Law, Defense, and Homeland Security partner Daniel Reisner, as they discuss changes to the funding and structuring […]
Apple Updates its Policies Concerning App Distribution and In-App Purchases
Apple has recently announced material changes to its policies, including changes in the App Review Guidelines and App Store, to accommodate for regulatory changes in various territories. Such changes include the long-awaited updates to payment processing and app distribution on iOS. In this update we highlight the main policy changes and their practical implications, per […]
Herzog’s Updated Comparative Guide on Key Rights in US States Privacy Laws
By Ariel Yosefi, On Dvori & Kobi Plotkin Dear clients, colleagues and friends, The legal landscape surrounding data protection in the United States continues to evolve and expand over the past couple of years. Since the beginning of 2024, 2 US states (New Jersey and New Hampshire) have enacted comprehensive general privacy laws, joining the […]
Herzog proudly partners with DocuSign for comprehensive integrated e-signature services
Herzog proudly partnered with DocuSign to provide integrated e-signature services to our clients. E-signature services allow for efficient and streamlined execution of transactions, agreements repository, contract life cycle management and enhanced identity verification.
Herzog partners with Carta
We are thrilled to announce our partnership with Carta and offer our clients cutting edge and innovative equity management service. Automated equity management platforms provide efficiency and streamline startups’ captable management including with respect to equity issuances and equity benefits matters. We are also in the process of working with Carta on integrating the platform […]
Mastering Clinical Trial Agreements: A Comprehensive Guide for Biotech Companies
In the dynamic intersection of technology and healthcare, clinical trials represent a critical juncture. For tech companies embarking on this journey, Clinical Trial Agreements (CTAs) are foundational documents that require careful navigation. As a commercial tech lawyer, my expertise lies in helping clients understand and negotiate these complex agreements. This comprehensive guide outlines the pivotal […]
New Hampshire is the 14th US State to Adopt Comprehensive Privacy Legislation
On 18 January 2024 the legislature of New Hampshire passed the Act Relative to the Expectation of Privacy (the “Act“). The Act is pending the approval of the state’s governor, after which New Hampshire will be the 14th state in the US to enact comprehensive legislation safeguarding consumer personal information. Similarly to the new privacy […]
We represented Sun Pharma in the acquisition of the minority interest in Taro
It was our pleasure to represent Sun Pharmaceutical Industries Limited (SUN.NS), in its acquisition of the minority interest in Taro Pharmaceutical Industries (TARO.N). The transaction represents a valuation of Taro of approximately $ 1.65 billion, and the total amount of the transaction is expected to be approximately $ 350 million. This transaction was led by […]
The Tax Authority Will Assign Numbers to Invoices in Transactions Between Dealers as Part of Its Fight Against Fictitious Invoices
Dear friends and colleagues, We would like to bring to your attention that the Knesset approved an amendment to the Value Added Tax Law (temporary provision for five years) within the framework of the Economic Plan Bill (Legislative Amendments for the Implementation of the Economic Policy for the Budget Years 2023 and 2024) (the “Economic […]
53 million NIS was raised in the Meitav Trade IPO
The first IPO of 2024 (and one of the few IPOs in the past year) was completed! Our corporate and Securities team represented Meitav Trade (a member of Meitav Group) in the initial public offering of its shares. A total of 53 million NIS was raised in the offering, reflecting a company value of approx. […]
New Amendment to the Import and Export Ordinance
Dear clients and colleagues, On January 17, 2024, an amendment to the Import and Export Ordinance [New Version], 5739-1979 (the “Ordinance“), was published in the official records (the “Amendment“). The Amendment incorporates various changes and reliefs, with the majority coming into effect on July 1, 2024 (which may be deferred by up to three […]
European Data Protection Regulatory Board Issues Investigative Report on the Role of Data Protection Officers
The European Data Protection Board (EDPB) has issued a comprehensive report which focuses on the designation and position of Data Protection Officers (DPOs). The report is the result of an EU-wide coordinated investigation and lists the obstacles currently faced by DPOs, along with a series of recommendations to further strengthen their role, such as mandatory […]
New Jersey is the 13th US State to Adopt Comprehensive Privacy Legislation
On 16 January 2024 the Governor of New Jersey signed into law the state’s Data Privacy Act (the “Act“), marking its entry as the 13th state in the US to enact a comprehensive legislation safeguarding consumer personal information. The new Act will enter into force one year after its enactment – on 16 January 2025. […]
An update to the Conditions of a General Permit under Section 49A to the Securities Law
Dear clients, We would like to inform you that the Israel Securities Authority (the “ISA”) has updated the conditions for obtaining a “General Permit” under section 49A of the Securities Law, 1968 (the “Updated Conditions” and the “Securities Law”, respectively). By way of background, according to Section 49A of the Securities Law, the […]
New Opportunity for Global Fund Managers and Investors – the SEC Has Approved the Launch of Bitcoin Exchange-Traded Funds
Dear Clients, We are pleased to inform you that on January 11, 2024, the US Securities and Exchange Commission (“SEC”) granted approval for the launch of 11 new Bitcoin Exchange-Traded Funds (ETFs). This regulatory green light allows investors to gain exposure to Bitcoin through ETFs traded on US stock exchanges, offering a convenient and […]
Ben Wahlhaus at the International Court of Justice (the ICJ)
Congratulations to Ben Wahlhaus, from our Corporate and Securities Department, who is a member of the team defending Israel at the International Court of Justice (the ICJ), and who was part of the delegation in The Hague last week! Since October 7, Ben has been on reserve duty in the IDF’s International Law Department, where he […]
Congratulations to Delinea on the acquisition of Authomize
Congratulations to our client, Delinea, Inc., a leading provider of privileged access management, on completing the acquisition of the Israeli start-up Authomize Ltd. Authomize developed a cloud identity and access security platform that detects and eliminates identity-based threats throughout the cloud. The Herzog team, led by Michal Herzfeld, includes Yahya Qaq; Dr. Yuval Navot, Ronen Avner, Efrat Kesler Kadmon, and Niran […]
Can we finally see signs of optimism?
Yair Geva, head of our high-tech department, has recently wrote an article discussing the excellent start that the Israeli high-tech sector has had in 2024, despite the economic difficulties that the country is experiencing. What makes 2024 an attractive year for high-tech firms? What is the significance of the interest rate reduction announced by the […]
Proud to have represented the lenders in the approximately NIS 6bn financing of the Green Line of the Tel Aviv Light Rail
We are proud to have represented a consortium of lenders led by Bank Hapoalim, Bank Mizrahi Tefahot and the European Investment Bank in connection with the NIS 6 billion financing to be provided to TMT TLV Metropolitan Tramway Ltd., for the development, construction and maintenance of the Tel Aviv Green Line Light Rail Project. The […]
UserWay is acquired by Level Access for $98 million
We are proud to represent KKR in its acquisition of UserWay, an Israeli public company, for a deal value of approximately $98 million. UserWay is a pioneer in the field of AI-based digital accessibility. This milestone transaction shows that global private equity funds are continuing to invest in Israeli companies, which is an indication of […]
How will the Hamas terrorists’ October 7 trials be conducted
“The state of Israel has never before dealt with crimes and an investigation on this scale”, said Dr. Roy Schondorf, former deputy to the attorney general. “This will be one of the most important trials to take place in Israel.” How will the Hamas terrorists’ October 7 trials be conducted? Dr. Roy Schondorf, our partner in […]
