A precedent-setting ruling has been issued in the case of Bizi Finance Ltd., in which the court was required to determine whether a promissory note signed electronically could be enforced through the enforcement and...more
Financial Information Service Order – Postponement Order Due to requests from licensed credit providers and licensed operators of credit brokerage system, who are deemed as information sources pursuant to the Financial...more
Recently, the Israel Securities Authority (ISA) published draft rules regulating entities’ notice of exemption from the obligation to obtain a license to provide payment or payment initiation services....more
1/14/2025
/ Compliance ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Israel ,
Israel Securities Authority (ISA) ,
Payment Services Directive ,
Policy Drafting ,
Proposed Rules ,
Regulatory Oversight ,
Regulatory Requirements ,
Reporting Requirements
2024 was characterized by a multitude of regulatory directives to payment companies and to payment initiation companies as part of the preparations for the licensing obligation that came into effect in June 2024. This year...more
1/7/2025
/ AML/CFT ,
Capital Markets ,
Compliance ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Harmonization Rules ,
Israel ,
Israel Securities Authority (ISA) ,
Licensing Rules ,
Payment Systems ,
Proposed Regulation ,
Regulatory Requirements ,
Risk Management ,
Strategic Planning
The emerging risks in the financial services market and the inception of the Regulation of Payment Services and Payment Initiation Law prompted the Capital Market, Insurance and Savings Authority (CMISA) to amend a series of...more
8/14/2024
/ Banking Sector ,
Capital Markets ,
Compliance ,
Corporate Governance ,
Cybersecurity ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Guidance Update ,
Insurance Industry ,
Israel ,
New Guidance ,
p2p ,
Payment Systems ,
Related Parties ,
Risk Management
As part of its actions to increase competition in the payments market, and alongside the entry into force of the Regulation of Payment Services and Payment Initiation Law, 2023, the Bank of Israel has opened access to...more
To make it easier for fintech companies to operate in Israel, the Knesset Finance Committee has passed regulations to exempt several types of credit providers and financial service providers from a licensing duty....more