The Bank of Israel published its latest annual review at the end of May. The review includes an announcement by Supervisor of Banks Yair Avidan that he is promoting the formulation of updated comprehensive regulations on...more
*** The text below was updated on March 9, 2021, in light of current proceedings in the Labor Court and in light of memoranda of law currently being formulated.
The past year has been nothing less than a roller coaster for...more
3/9/2021
/ Coronavirus/COVID-19 ,
Customers ,
Employment Litigation ,
Employment Policies ,
Furloughs ,
Grocery Stores ,
Incentive Compensation ,
Infectious Diseases ,
Israel ,
Paid Leave ,
Privacy Laws ,
Retailers ,
Third-Party Service Provider ,
Vaccinations ,
Virus Testing ,
Workplace Safety
This past year has been nothing short of a rollercoaster ride for employers in Israel, in terms of both their business activities and their role as employers. Now, when we can perhaps see a glimmer of light at the end of the...more
Israel’s Privacy Protection Authority published its guidelines and emphases for protecting the privacy of individuals when conducting COVID-19 epidemiological investigations in workplaces. In light of the complexity of the...more
The Bank of Israel recently published a draft directive on proper banking management. It details various provisions in favor of changing the conduct patterns of consumer credit providers toward their clients, both from the...more
Israel’s Knesset recently passed an amendment to the Consumer Protection Law. The amendment aims to prevent aggressive telemarketing, particularly for vulnerable groups such as senior citizens and new immigrants....more
Following a previous Israel Innovation Authority call for bids for companies developing technologies to help deal with the coronavirus crisis, the IIA has opened a channel to support companies facing financial hardships due...more
On March 25, 2020, emergency regulations were adopted in Israel that include, among other things, an extension of the validity of regulatory approvals that expire in the near future. The purpose of the extension is to...more
The global effort to fight the spread of coronavirus has prompted new privacy related questions around the world. Much has been written for and against the use of privacy-compromising measures to protect public health....more
We are living in the age of data and big data, where everyone wants to collect as much information as possible. The ability to analyze and monetize such information is a key strategy and selling point for many...more
3/11/2020
/ Big Data ,
Cloud Service Providers (CSPs) ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Breach ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Data Subjects Rights ,
Data-Sharing ,
International Data Transfers ,
Israel ,
Privacy Laws ,
Risk Management ,
Security and Privacy Controls ,
Security Risk Assessments
The Governmental Cyber Security Unit has published a new directive according to which material service providers to government, infrastructure, and finance bodies will be required to adopt a common and unified standard for...more
1/2/2020
/ Banking Sector ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Federal Contractors ,
Financial Services Industry ,
Government Entities ,
Information Security ,
Infrastructure ,
Israel ,
Popular ,
State Contractors ,
Third-Party Service Provider
The Bank of Israel recently led several important developments in the Israeli payments market. These developments are designed to encourage competition in the payment services market and to advance the implementation of...more
12/23/2019
/ Bank of Israel ,
Credit Cards ,
Electronic Payment Transactions ,
EU ,
European Banking Authority (EBA) ,
Financial Services Industry ,
Innovative Technology ,
Israel ,
Open Banking ,
PSD2 ,
Regulation Technical Standards (RTS)
In October 2019, Attorney General Avichai Mandelblit published a detailed guideline document addressed to the legal counsels of various government ministries. The guideline is intended to assist and support such government...more
The State of Israel is constantly pursuing ways to support innovation and is immensely occupied with encouraging and supporting entrepreneurship, which it considers the foundation of developing the local economy. To that end,...more
Six months after the amendment to the Economic Competition Law took effect, the Competition Authority published its position regarding the circumstances in which even an entity with less than a 50% market share may be deemed...more
Bank of Israel published a position paper with respect to the activity of banks’ payment apps (Pepper by Bank Leumi, Bit by Bank Poalim, and Paybox by Discount Bank) in the B2C market. The position paper is the conclusion of...more
July 2019 brought an escalation in the enforcement of privacy infringements by companies around the world. The trend began with a press release published on July 8, 2019, of a fine in the approximate amount of GBP 183 million...more
7/26/2019
/ British Airways ,
California Consumer Privacy Act (CCPA) ,
Cambridge Analytica ,
Cyber Attacks ,
Data Breach ,
Enforcement Actions ,
EU ,
Facebook ,
Federal Trade Commission (FTC) ,
Fines ,
General Data Protection Regulation (GDPR) ,
Hotels ,
Israel ,
Marriott ,
Multinationals ,
Privacy Laws ,
Privacy Policy ,
Risk Assessment ,
Risk Mitigation ,
Settlement Agreements ,
UK ICO
The payment market in Israel and around the world is marching toward revolution: Facebook announced the launch of its digital currency, the Libra; Le’umi Bank entered into agreements with 400 businesses for acceptance of...more
7/11/2019
/ Bank of Israel ,
Banks ,
Credit Cards ,
Digital Currency ,
Electronic Payment Transactions ,
Facebook ,
Financial Services Industry ,
Innovative Technology ,
Israel ,
Mobile Apps ,
Payment Systems ,
Point of Sale Terminals