News & Analysis as of

Banking Sector Israel

Barnea Jaffa Lande & Co.

ILS 80 Million Penalty for Israeli Banks Over Competing Company Stakes

Bank Hapoalim and Israel Discount Bank will each pay the State Treasury ILS 40 million within the framework of an administrative settlement (“agreed order”), in respect of their acquisitions of minority stakes in a competitor...more

Barnea Jaffa Lande & Co.

Internal Enforcement and Compliance Surveys: Essential for Organizations in Israel

In an era of stringent regulations and increasing legal risks, it has become essential for organizations to implement internal enforcement programs. However, in order for such programs to provide legal protection, they must...more

Barnea Jaffa Lande & Co.

The Bank of Israel released a preliminary Digital Shekel design for public comment – a real opportunity for competition and...

Last week, the Bank of Israel published a preliminary design of the central bank’s Digital Shekel system. In a detailed document, holding more than 100 pages, the Bank of Israel presents guiding principles and a work plan for...more

Barnea Jaffa Lande & Co.

Licensing and Supervision of Broker-Dealers: Key Points of the New Memorandum of Law

Barnea Jaffa Lande & Co. on

In October of this year, the Israel Securities Authority published a memorandum of law aimed at regulating broker-dealer activities in Israel. Public comments will be accepted until 21/11/24. At issue is an initiative that...more

Barnea Jaffa Lande & Co.

The Money Market Reform in Israel is Underway

The Knesset approved a series of legislative amendments this past July designed to promote competition in the money market – money market mutual funds, deposits and government bonds (short-term loans maturing in less than one...more

Barnea Jaffa Lande & Co.

Israeli Capital Market, Insurance and Savings Authority Issues New and Revised Circulars

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

Barnea Jaffa Lande & Co.

Advantage to Israeli Banks When Self-Exercising a Deposited Pledge

A deposited pledge is an arrangement enabling lenders to receive efficient, inexpensive, and readily available collateral from borrowers to secure credit. However, the current legislative arrangement in Israel differentiates...more

Barnea Jaffa Lande & Co.

Bank of Israel Continues to Regulate Use of Cryptocurrencies

Israel’s financial regulatory authorities are regulating virtual currencies (cryptographic currencies) due to their steady increase in use. For example, the Capital Market, Insurance and Savings Authority (CMISA) issued an...more

Barnea Jaffa Lande & Co.

Regulating Israeli Banks’ Provision of Services to Licensed Cryptocurrency Service-Providers

The Bank of Israel is proposing to regulate the provision of services to licensed cryptocurrency service providers (i.e., exchange platforms). The purpose of the proposal is to ensure banks are not able to sweepingly refuse...more

Barnea Jaffa Lande & Co.

Financial Institutions Seek Involvement in Crypto Field

Barnea Jaffa Lande & Co. on

While Israel’s banks are in no hurry to accept the blockchain industry and are avidly trying to keep their distance from cryptocurrencies, this is not the case elsewhere. Recently, the major global securities, derivatives and...more

Barnea Jaffa Lande & Co.

Bank of Israel: Environmental Considerations and Risks Should Be Part of Banking Corporations’ Risk Management

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

Barnea Jaffa Lande & Co.

New Rules on Consumer Credit Marketing and Management

Barnea Jaffa Lande & Co. on

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

Barnea Jaffa Lande & Co.

New Standards in Cyber Protection for Companies in the Government, Infrastructure, and Finance Sectors

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

Latham & Watkins LLP

Structuring Challenges in Leveraged Buyouts in Israel

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How foreign private equity sponsors and their lenders are finding solutions to local law structuring issues - Leveraged finance acquisitions have existed in the Israeli market for many years. However, for a variety of...more

Latham & Watkins LLP

Israel’s Anti-Concentration Law Presents Unique PE Opportunity

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In December 2013, Israel introduced new legislation — the Law for the Promotion of Competition and Reduction of Concentration — designed to break the dominance of large corporations and strengthen competition in the country’s...more

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