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- The High Court of Justice's Policy on Workplace Sexual Harassment in Israel
The National Israeli Labor Court is an independent tribunal and thus only rarely does the High Court of Justice (HCJ) intervene in its decisions. Recently, in an unusual move, the HCJ twice reversed the rulings of the National Labor Court. In both cases as part of its policy to eliminate the phenomenon of workplace sexual harassment.
- Entities with Relatively Small Market Shares May Also Be Deemed Monopolies
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 a “monopoly holder.”
- Israel’s M&A market set for continued growth
Year after year, Israel’s M&A market continues to flourish, setting new records for value in every year since 2016. In 2018 the country set a new record, logging over USD25 billion over 100 deals.
- New Restrictions on Hedge Funds in Israel
The Israel Securities Authority recently published a staff position that has material implications on the hedge fund sector in Israel and on the investor public. This position was issued against the backdrop of a judgment handed down by the Tel Aviv District Court in the Integral Fund case – a hedge fund that caused heavy losses to the hundreds of investors who invested in it. In this case, the court ruled that the provisions of the Joint Investment Trust Law apply to the fund and therefore Integral Fund breached the regulatory obligations that apply to it.
- Dramatic Decision on the Taxation of Trusts in Israel
The Tel Aviv District Court handed down a decision a few days ago rejecting the Israel Tax Authority’s (ITA) position on the conveyance of real estate properties to trusts. This decision dramatically changes the taxation of trusts in Israel.
- Payment Apps Will Enter Small Businesses
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 a long battle waged by credit card companies against the banks.
- Software Companies No Longer Subject to Expansion Orders in the Field of Industry?
The question of categorizing high-tech companies as software industry companies arises in many due diligence inquiries. The operative meaning of this categorization suggests that the application of transaction terms set in expansion orders for various industries is applicable to high-tech companies as well. It also concerns the duty of such companies to pay organizational management fees to the Manufacturers’ Association of Israel.
- Raising Early Stage Financing for Your Start-Up? The Do’s and Don’ts You Must Know
Raising financing is tricky, stressful and for many involves navigating uncharted waters. It is an art and an important skill to master to ensure the future of your start-up. Whether your first investment comes when you simply have an idea scrawled on the back of a napkin, or once you already have a POC or product – the odds are that you will not have the experience to negotiate on equal grounds with sophisticated investors. Yet, many founders approach these first negotiations unprepared and unaware of the impact of their decisions. I want to equip you (the founder) with some requisite knowledge, to help you sidestep certain unhealthy choices.
- Canceling Expropriation for Public Use – When?
In a recent judgement by the Supreme Court, the circumstances under which a court may intervene and cancel an action for expropriation were considered.
- Precedential Court Ruling on Options Plans for Employees
Several days ago, a precedential judgment was handed down (AA 55937-01-17, Shohat v. The State of Israel) on option plans for employees in respect of section 102 of the Income Tax Ordinance. Although the judgment considers several issues, we wish to focus on the significant new precedent set. The relevant facts for our purposes are as follows...
- The Schrems Saga Continues: Israeli Law, Information and Technology Authority Revokes Transfer Authorizations
Citing the European Court of Justice’s (ECJ) October 6, 2015 decision in Schrems v. Data Protection Commissioner, which invalidated the EU Commission’s Safe Harbor decision, the Israeli Law, Information and Technology Authority (ILITA) announced, on October 19, 2015, that it was revoking its prior...
- Thoughts for Board and Senior Management of Israeli Public Companies
We have set out below observations for board members and senior management of Israeli companies based on our experiences of the last year....
- Outlook for M&A in Israel: Execs expect the bull run to continue: Israel M&A, by the numbers
Our third annual survey finds that a bullish outlook and the ascendance of domestic and Asian buyers could make 2019 a standout year.... ...Selected charts provide an overview of 2018 performance, including M&A value and volume, top deals, leading sectors and top inbound bidders....
- Israel Securities Authority Demands Being Granted Authority to Supervise Underwriters and Distributors
The Israel Securities Authority (ISA) recently published a proposal for amending the Securities Law as to the supervision of underwriters and distributors. The ISA aims to add a section to the law that would authorize it to establish regulations for underwriters and distributors for purposes of...
- Trends in Legal Terms in Venture Financings in Israel - (2009 Annual Survey)
We have analyzed the terms of venture financings for Israeli and Israeli-related technology companies that reported raising money in 2009. Our survey does not include financing rounds of less than US $500,000. The tables below also show, for purposes of comparison, the results of our previously...
- Trends in Legal Terms in Venture Financings in Israel - First Half 2015
Background —We have analyzed the terms of venture financings for Israeli and Israeli-related technology companies that reported raising money during H1 2015. Our survey does not include financing rounds of less than US $500,000. The tables below also show, for purposes of comparison, the results of ...
- Israeli Supreme Court grants injunctive relief to Bitcoin trading company against its bank
On 25 February 2018, the Israeli Supreme Court, in what appears to be a landmark decision, granted temporary relief in favour of a crypto-currency (Bitcoin) trading company, Bits of Gold Limited (BoG) against its bank, Bank Leumi (Leumi)....
- Outlook for M&A in Israel: Execs expect the bull run to continue: Optimism about M&A is stronger than ever
Deals targeting Israeli companies hit an all-time high of US$26.5 billion in 2018, from 103 deals—an increase of 4.5 percent in terms of value compared to 2017. Much of this increase was due to a jump in domestic dealmaking, which increased 178 percent over 2018 to almost US$8.1 billion as deal...
- Bill to Amend the Investment Advice Law to Allow General Investment Advice without a License
The Israel Securities Authority (ISA) recently published a draft bill for the Regulation of Investment Advice, Investment Marketing and Investment Portfolio Management Law, 5755-1995 (the “Advice Law”). The purpose of the bill is to regulate the area of of general investment advice services and to ...
- Israeli Bank Is Already FATCA Compliant
According to published reports Benk Leumi, Israel’s largest bank is requiring depositors to affirm that they are not U.S. clients or disclose the existence of the accounts to the IRS. FATCA, the Foreign Account Tax Compliance Act virtually eliminated bank secrecy for U.S. persons goes into effect...