Law Firm ILN-telligence Podcast | Episode 34: Gil Rosen | Joseph Shem Tov & Co. | 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
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
The Israeli Privacy Protection Authority (PPA) has issued a new statement introducing a significant change in the interpretation of the law and in the required methods for obtaining consent to the collection and processing of...more
The Ministry of the Economy’s wide-scale enforcement campaign launched last weekend in branches of supermarket chains throughout the country, found violations of the obligation to mark prices in all of the branches that were...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
Last month, the State Attorney-General and the Israel Securities Authority published their positions with regard to the overruling mechanism. The context relates to the requirement for public companies and private companies...more
In 2024, Israel became the latest jurisdiction to enact comprehensive privacy legislation, largely inspired by the EU’s General Data Protection Regulation (“GDPR”). On August 5, 2024, Israel’s parliament, the Knesset, voted...more
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
The Israel Securities Authority recently published a legal staff position aimed at clarifying the applicability of the Payment Services and Payment Initiation Regulation Law to activities conducted within trust/escrow...more
The Israel Securities Authority published a position statement recently addressing various issues pertaining to brokerage activities and offerings of joint investment arrangements, including the applicability of the...more
The EU is continuing to shape the regulatory landscape in the crypto market After the Markets in Crypto-Assets Regulation (MiCA) entered into force in June 2024, a significant step took place last July with the publication of...more
The Israeli Privacy Protection Authority (“PPA”) recently published a draft opinion, which is open for public comments, addressing transfers of personal data from Israel to other countries. In this opinion, the PPA seeks to...more
Israel promotes responsible AI innovation through policy and sector-specific guidelines to address core issues and ethical principles. Laws/Regulations directly regulating AI (the “AI Regulations”) Currently, there are...more
Examining AI tools: Before deciding to purchase and implement AI tools in an organization, one must consider various aspects, including privacy issues, discrimination, copyright protection, and suppliers and contracts. The...more
The Haifa District Court recently handed down a ruling in a motion to certify a class action filed against Ofir Tours Ltd. by its customer. The plaintiff bought an Eilat hotel vacation through Ofir Tours, paying in credit...more
The Israel Securities Authority (ISA) is currently amending the directive that outlines the requirements for holders of investment consulting, investment marketing, and investment portfolio management licenses to provide...more
Last August, the US Treasury Department sanctioned Torando Cash, a decentralized crypto mixing service. A month later, another US regulator, the CFTC, imposed a $250,000 fine on Ooki DAO, citing various regulatory violations,...more
In light of the increase in fraud crimes in the digital space, a team from the Israeli Justice Ministry has formulated recommendations for defining a policy to contend with ransomware attacks. The recommendations relate to...more
Over the past year, raising capital through SPACs (special purpose acquisition companies) has become a hot trend on Wall Street. A SPAC is a company with no business operations formed solely to raise capital through an IPO...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