Corporate
Capital Markets & Securities
Our Capital Markets & Securities department is the largest and most prominent department in Israel and has been consistently involved in the most significant, complex and ground-breaking deals in Israel. The department is recognised as a leader in both international and domestic guides.
Our team's in-depth knowledge and experience in this field allows us to provide creative legal advice to address our clients’ specific needs. Moreover, our deep connections with regulators and authorities in Israel as well as familiarity with the U.S., European markets, enable us to find innovative solutions in a highly regulated and complex environment.
Our team is well known across the Israeli market as the team of choice for complex capital markets advice, and has successfully negotiated some of the largest and most complex administrative-enforcement settlements between Israeli companies and the Israeli Securities Authority ("ISA"). We specialise in all aspects of capital and debt funding and have special expertise in securities-related transactions. We are experts in advising on public equity and debt offerings, corporate finance transactions, asset management activity, as well as on ongoing activities, reporting and regulatory requirements, investment banking and more.
Our department principally provides advice in the following areas:
- Publicly-Traded Companies and Public and Private Issuances of Securities – advising on public offerings (equity and debt) and private placements of securities globally, in various Stock Exchanges (e.g. the Tel Aviv Stock Exchange, New York Stock Exchange, NASDAQ, London Stock Exchange, AIM, Singapore Exchange and more).
- Ongoing Advice to Publicly-Traded Companies – advising on ongoing activities, reporting requirements and other regulated matters such as: M&A, finance or bond transactions, partnership and joint-venture ongoing advisory services, shareholder agreements, voting agreements, advising management, board and independent committees, advising on officer service agreements and compensation, compensation policies, option plans and agreements, change of control agreements (including during proxy fights), anti-takeover measures and minority protectionissues
- Alternative Investment Practice – advising in this regard includes "out of the box", unique, and unprecedented public offering structures, discussions with the ISA and preparation of public offering prospectuses.
- Asset Management – assisting entities in their investments, capital market-related activity and in adapting their internal work procedures to comply with the ever-changing regulatory requirements. We advise on issues concerning provident funds, mutual funds, portfolio management, stock-exchange members’ activity, ETFs and underwriting, distribution of traded securities and insurance agencies' activity.
- Regulatory Advice on Corporate and Securities Matters – advising on regulatory requirements, market customs and Fintech products offerings for transactions, general investment matters, ongoing activity of provident fund and mutual fund managers as well as portfolio management issues.
- Private Investment Funds, Foreign Stock Exchanges and Online Financial Platforms – advising international regulators (such as FCA, SEC, etc.) with respect to their entrance into activity in Israel.
- Advising on cross-border investment management, investment banking and securities brokering, as well as the regulatory and licensing implications of cross-border services.
- Social Finance & Crowdfunding
- Anti-takeover measures and strategic investors – including advice on dealing with activist shareholders, hostile takeovers and similar issues. Our department is a pioneer in this field, advising on ground-breaking issues which have not yet been brought to courts in Israel.
- The Israeli Anti-Concentration Law – advising entities and high net worth individuals and families by analysing the applicability of the Anti-Concentration Law on a case-by-case basis, in order to provide a "tailor-made" solution for the client, including with respect to cross-holding issues.
- Trading platforms, stock exchanges and distribution of financial assets – advising international and Israeli trading platforms and stock exchanges in various unique fields related to their activities, with respect to both regulatory issues and business-legal issues. The team also provides regulatory advice to worldwide leading investment houses, investment marketers, portfolio managers, investment advisors, local distributors, numerous private funds, international banks and other financial institutions in various issues related to public offerings and investment advice, including in connection with global funds.
- Prime Services, Equities – advising foreign financial institutions in relation to settlement/payment systems and custodian and clearing arrangements on the TASE and TACH, both in their capacity as market traders and as prospective members of the TASE.
Capital Markets & Securities News & Insights
We recently represented Psagot Investments in Insurance Agencies, a subsidiary of Psagot Investment House, to sell its holding in the insurance

Herzog represented Psagot Investments in Insurance Agencies
Our client, Plus500, is making its foray into the U.S. futures and options market – another step in the company’s

Our client Plus500 is making its foray into the U.S. futures and options market
The ETF provider Lyxor Asset Management, one of the three largest ETF providers in Europe, has listed a new ETF on

A new international asset manager is coming to Tel Aviv….
We recently represented the AMI fund in the sale of ZAP Group, which operates, among others, the price comparison website

We Represented the AMI Fund in the Sale of ZAP Group
Our firm represented TWC Tech Holdings II Corp, a Special Purpose Acquisition Company (SPAC) traded on Nasdaq in its merger

Our firm represented TWC Tech Holdings II Corp in its merger with Cellebrite
Congratulations to our clients, the Alpha Group, one of the largest private funds group in Israel, on the establishment of

Congratulations to our clients the Alpha Group, on the establishment of a fourth fund in the Alpha Funds family.
Tuesday, 6 April 2021 | 17:00 – 18:30 (IST) | Webinar Special Purpose Acquisition Companies (SPACs) became the major trend in

The SPAC Attack and the Israeli Market
Dear clients and colleagues, On March 14, 2021, an amendment to the Israeli anti-money laundering order that applies to credit

Amendment to the Anti-Money Laundering Order – Application to Financial Asset Service Providers and Updating Credit Service Providers Obligations
Retrain.ai’s secured $4M in its seed round last year, putting the total amount raised so far at a total of

Our client, the Israeli start-up retrain.ai, has raised $9M in a Series A funding round
New Amendment to the Israeli Insolvency Law – grant of the option for a stay of proceedings against a corporation

New Amendment to the Israeli Insolvency Law
Please join us on March 9 for the Maple & Honey Forum special presentation on Canadian Special Purpose Acquisition Companies

Maple & Honey Forum Webinar | Canadian SPACs and IPOs for Israeli Tech Companies
Nir Dash
Partner
Capital Markets & Securities, Corporate, Mergers & Acquisitions, Privatisation & Restructuring
Ran Hai
Partner
Capital Markets & Securities, Commercial, Corporate, Gaming, Hi Tech, Internet & E-commerce, Mergers & Acquisitions
Ayelet Regavim Kahanov
Partner
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation
Daniel Kaczelnik
Partner
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation
Joshua Ravitz
Partner
Capital Markets & Securities, Corporate, Litigation & Disputes, Mergers & Acquisitions
Ohad Graub
Partner
Capital Markets & Securities, Commercial, Corporate, Financial Regulation, International Trade & National Security, Mergers & Acquisitions
Or Hoffer
Partner
Capital Markets & Securities, Corporate, Financial Regulation, Mergers & Acquisitions
Ory Nacht
Partner
Capital Markets & Securities, Commercial, Corporate, Hi Tech, Mergers & Acquisitions
Ron Ben-Menachem
Partner
Capital Markets & Securities, Corporate, Corporate Finance, Mergers & Acquisitions, Telecom & Media
Aviv Amar
Associate
Banking & Finance, Capital Markets & Securities, Commercial, Corporate, Financial Regulation
David Azimov
Associate
Capital Markets & Securities, Commercial, Corporate, Hi Tech, Investment Funds & Private Equity, Mergers & Acquisitions
Haguy Kessel
Associate
Arbitration & ADR, Capital Markets & Securities, Corporate, Gaming, Internet & E-commerce, Litigation, Litigation & Disputes
Maria Oren Leyfer
Associate
Arbitration & ADR, Capital Markets & Securities, Commercial Litigation, Corporate, Corporate & Securities Litigation, Crisis Management, Litigation, White Collar
Shai Emanuel Yamin
Associate
Capital Markets & Securities, Corporate, Hi Tech, Mergers & Acquisitions
Yuval Bar Levy
Associate
Banking & Finance, Capital Markets & Securities, Corporate, Financial Regulation
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