vLex Israel

Books and Journals

  • Decentralized Finance (DeFi) –The Future of Finance?

    The first cryptocurrency, Bitcoin, is still the most well-known application of blockchain. However, this technology has since rapidly evolved and expanded in many other areas. The initial hope with Bitcoin was to make both money and payments decentralized and universally accessible. Although Bitcoin failed to live up to this promise, decentralized finance based on blockchain… (See Article)

    Oct 21, 2020 9:08 AM

  • Israel Follows Europe’s Lead on Privacy Shield

    Israel’s Privacy Protection Authority recently announced that Privacy Shield can no longer be relied on for data transfers between Israel and the United States. Israel did not have a direct Privacy Shield arrangement with the U.S., instead permitting the many Israeli companies that exchange data with their American counterparts to rely on a provision of its Privacy Protection Regulations that allows for transfers of data to any country that receives data from the EU under the same terms of such transfer... (See Article)

    Oct 14, 2020 6:32 AM

  • Employment: Paid Sick Leave for Time In Quarantine

    Yesterday the Court granted the State’s request to extend the period during which employees may use paid sick leave for time in quarantine until October 28, 2020.     As you may remember, the Supreme Court repealed an order from the Ministry of Health, according to which a sweeping medical certificate was given to employees… (See Article)

    Oct 5, 2020 6:32 AM

  • Japan, the Land of the Rising Sun, and Interest in Israeli Hi-Tech Companies

    2014 was a good year for the Israeli-Japanese economic relationship. Viber’s USD 900 million acquisition by Japanese giant Rakuten and the R&D cooperation agreement between Japan and Israel marked the beginning of growing interest and a successful relationship between the two distinct countries. (See Article)

    Oct 2, 2020 6:32 AM

  • Israel’s Second Lockdown: A Guide for Employers

    The lockdown entered in?to effect on September 25, 2020, at 14:00, and is expected to continue until October 10, 2020. It is possible at the end of this period the lockdown will be extended. We have prepared an in-depth update for employers on the relevant topics. (See Article)

    Oct 1, 2020 4:32 PM

  • Coronavirus in Israel – Getting Your Business Seen as an Essential Service (Update 25.9.20)

    In accordance with the regulation approved today and until October 10th (subject to any extension) only business listed in the essential businesses list are allowed to continue and operate in the place of business. In addition activities essential for the remote operation of the business may be performed at the place of business. (See Article)

    Sep 27, 2020 5:46 AM

  • Updates Regarding the Upcoming Lockdown in Israel

    A nationwide lockdown in Israel is to take effect on Friday, September 18, 2020, from 2 p.m., to last for at least 14 days, (the restrictions may be extended, in full or in part, as determined by the Israeli government). While the regulations are currently pending final approval by the Knesset’s Constitution, Law and Justice… (See Article)

    Sep 21, 2020 6:32 AM

  • The Ultimate Guide to eDiscovery

    This has opened the door to an era of massive discovery of thousands different kinds of documents of between the parties (Word documents, PDFs, Excel spreadsheets, emails, photos, and audio files), which was uncommon in the days of paper and binders. Thus, reviewing the documents provided by the other party, analyzing them, and identifying the… (See Article)

    Sep 16, 2020 6:32 AM

  • Israel and the UAE: An historic opportunity

    On 28 August 2020, President His Highness Sheikh Khalifa, President of the United Arab Emirates (the UAE), issued Federal Decree Law Number 4 of 2020, abolishing a ban on business and trade dealings with Israel that had stood since 1972. In doing so, the UAE has become the first Gulf nation to normalise its relations with Israel and only the third Arab nation to do so, alongside Egypt and Jordan. Law Number 4 follows the Abraham Accord announced only a few weeks ago and the speed with which relations have thawed has surprised and delighted businesspeople in both jurisdictions: Businesses in the UAE can now enter openly into direct commercial agreements with their Israeli counterparts, to import, exchange, possess and trade in Israeli products in the UAE and to trade in them. Please see full Publication below for more information. (See Article)

    Sep 9, 2020 6:32 AM

  • Israel Securities Authority Publishes Sentencing Guidelines for Administrative Procedures

    For the first time, the Israel Securities Authority has published Sentencing Guidelines for Administrative Procedures which contain the considerations guiding its determination of sanctions for individual violators and corporations in an administrative procedure. (See Article)

    Sep 4, 2020 6:31 AM

  • Employers Are Now Required to Publish Wage Gaps between Women and Men

    According to a new amendment to the Male and Female Workers (Equal Pay) Law, employers must publish a yearly report outlining wage gaps between female and male employees.   The amendment provides that certain employers (including public corporations with reporting requirements in accordance with the Securities Regulations), as well as private employers with more than… (See Article)

    Sep 2, 2020 6:32 AM

  • Israeli M&A players take note, the Warranty & Indemnity (W&I) Insurance market has matured

    We have seen continued increase in the use of W&I insurance, particularly in Private Equity backed deals, and across the spectrum of transaction sizes. Insurance limits placed globally by Marsh in 2019 grew by 51% from 2018, and totalled $50.9 billion spread across 1,241 transactions. (See Article)

    Aug 24, 2020 6:32 AM

  • Israel Securities Authority: Distributors May Be Liable for the Contents of a Prospectus

    The Israeli Securities Authority has announced that distribution entities now may be liable for the contents of a prospectus.   In a staff position paper published in late July, the ISA changed the rules of the game in the underwriting field by determining that a distributor, or an entity associated with a distributor, that purchases… (See Article)

    Aug 14, 2020 6:31 AM

  • Using Open Source in Your Business? Beware the Fine Print

    The use of open source software is very common among developers. The concept behind open source is to allow access to many developers and promote collaboration between them.   A recent example is the website for the European Union’s Digital Response to COVID-19, which provides the public access to an ever-growing database of various open… (See Article)

    Aug 12, 2020 6:31 AM

  • Service Users Must Now Hold Hearing Procedures for Service Providers’ Employees

    The National Labor Court recently handed down an important ruling that concerns many employers in the market engaged with service provider companies.   The National Labor Court ruled that although there were no employee-employer relations between the employee and its employer in this matter, the service user still had to take part in the employee’s… (See Article)

    Aug 5, 2020 6:32 AM

  • It Is Time to Come Back Home: Investors Can Now Enjoy a Reduced Purchase Tax

    Israeli Minister of Finance Israel Katz’s plan to reduce purchase tax for investors has gone into effect.   Until now, under plans advanced by the previous Minister of Finance, Moshe Kahlon, for lowering housing prices and pushing investors out of the real estate market, the purchase tax for investors went up from 5% to 8%… (See Article)

    Aug 4, 2020 6:32 AM

  • Labor Law- An Important Update for Employers

    There have been a few recent updates to statutory provisions and administrative procedures regarding employees and employers during the COVID-19 outbreak. Here are the main points:   In a decision handed down on 27.7.2020, the Supreme Court, sitting as the High Court of Justice, repealed an order given on 4.2.2020 by Prof. Sigal Sadetzki, former… (See Article)

    Jul 30, 2020 6:32 AM

  • Apartment Sale Delayed because of COVID-19? Home Upgraders Eligible for an Extension

    Apartment owners experiencing difficulty selling their old apartments are entitled to a seven-month extension in which to sell, and the Israel Tax Authority will not count this period for tax purposes. (See Article)

    Jul 24, 2020 6:33 AM

  • Are Publicity Brochures for Apartment Developers Considered an Agreement?

    Developers and entrepreneurs often market apartments for sale using glossy prospectuses and state-of-the-art simulations that purport to represent to the buyer the apartment they are about to purchase. Sometimes, though, there is no connection between the information in the brochures and the apartment one purchased. The question arises of whether such publicity materials constitute a… (See Article)

    Jul 22, 2020 6:32 AM

  • Dividend Distribution in Times of Covid-19 - Barnea

    The recent distribution of dividends by the TASE traded Fox-Wizel Ltd., while in receipt of emergency funding from the Israeli government, did not only raise a moral question, but also directed the spotlight on the complexity facing many companies during these times. A key question facing companies is how to balance between dealing with the… (See Article)

    Jul 14, 2020 6:33 AM

  • Fintech Companies: New Program to Facilitate Regulatory Reliefs

    Although Israel is a world leader in the fintech field, companies operating in this area face many regulatory challenges.   A newly published legal memorandum aims to enable the creation of a “sandbox”, with inspiration from various programs already implemented in Japan, Australia, and Singapore. The goal is to establish a unique experimental environment, a… (See Article)

    Jul 13, 2020 6:33 AM

  • Remuneration Policy: New Reliefs for Officers' Insurance

    The Israel Securities Authority announced a new relief for public companies regarding directors’ and officers’ liability insurance. This relief will enable companies to include in remuneration policies only the scope of the insurance coverage, without the other parameters required to date. (See Article)

    Jul 10, 2020 6:33 AM

  • Banks Required to Share Information about Clients with Other Financial Bodies

    As part of a broad change led by the Ministry of Finance to increase competition in the banking and financial services market, a memorandum for the Provision of Financial Information Services was recently published for public comments. (See Article)

    Jul 8, 2020 6:32 AM

  • Israel: How to Identify Suspicious Use of Virtual Currencies

    Prompted by the use of digital currencies to fund terror and other illegal activity, the Israel Money Laundering and Terror Financing Prohibition Authority has published a document aimed at assisting financial bodies and law enforcement agencies to identify improper activity in this field. (See Article)

    Jul 7, 2020 6:32 AM

  • Taxation of Hedge Funds in Israel – A Short Guide to the Perplexed

    Hedge funds are generally entities that are managed by investment managers, in accordance with certain investment strategies, in order to invest in financial assets and generate returns for the hedge funds’ investors. (See Article)

    Jul 3, 2020 8:32 AM

  • Bankruptcy, Insolvency & Rehabilitation Proceedings in Israel

    KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ISRAELI LAW - The Israeli Parliament (Knesset) passed a new statute regarding insolvency law, which is named the Insolvency and Rehabilitation Law-2018 (the "Law"). The Law was enacted on March 5, 2018 and came into force on September 15, 2019. The Law offers a comprehensive reform and provides Israel with modern insolvency legislation dealing with both corporate and individual insolvency. The Law has three primary objectives: 1. to promote the debtor’s economic rehabilitation; 2. to maximize the debt repayment to creditors and to divide the debtor’s pool of assets in a more equitable manner between the secured and unsecured creditors; 3. to increase the certainty and stability by streamlining processes and reducing the bureaucratic burden. Please see full Chapter below for more information. (See Article)

    Jun 29, 2020 6:33 AM

  • Crowdfunding Regulation in Israel

    Crowdfunding began as a fundraising model used by entrepreneurs or artists to fund projects. Investors gave money as a donation or with the expectation of receiving the final product. Now, many companies are using crowdfunding simply as a means to raise money. (See Article)

    Jun 24, 2020 6:33 AM

  • Decision Implementing Trademark License Requirements in Israel and a Comparison to the US and Mexico

    In some jurisdictions, the local trademark offices will require an owner to record trademark licenses used by entities other than the registered owner. (See Article)

    Jun 22, 2020 6:33 AM

  • How to Arrange the Inheritances of Agricultural Farms

    Many landowners in agricultural communities (moshavim) find themselves wondering about the future of the family farm once they have passed. Questions such as how can the estate be bequeathed, to whom, and what the parties who are not gifted the farm might receive arise frequently in such cases. Because the agricultural farm is the primary… (See Article)

    May 29, 2020 6:33 AM

  • Israeli Registrar of Amutot Eases Reporting Obligations for Amutot and Public Benefit Companies (PBCs)

    Following the guidelines that the Israeli Corporations Authority (ICA) has issued on March 2020, inter alia, regarding easements in the annual reporting dates applying on Amutot and PBCs, in light of the coronavirus outbreak in Israel, the ICA has now issued further updated guidelines regarding the annual reporting dates. (See Article)

    May 15, 2020 6:32 AM