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- 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…
- 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...
- 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 As you may remember, the Supreme Court repealed an order from the Ministry of Health, according to which a sweeping medical certificate was given to employees…
- 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.
- 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.
- 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.
- 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…
- 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…
- 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.
- 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.
- Employing foreign workers in Israel
Immigration for non-citizens into Israel is governed by the Entry into Israel Law (1952). Since the 1990’s, hundreds of thousands of immigrant workers have come to Israel to be employed in various capacities as temporary workers. The regulation of employment of such workers is governed by the...
- Israeli Regulators to Decide Regulatory Fate of ICOs in December
On August 30, 2017, the Israeli equivalent of the U.S. Securities and Exchange Commission, the Israeli Security Authority (“ISA”) announced it had formed a committee to study whether, and how, to apply Israeli securities laws to initial coin offerings (“ICOs”). Specifically, the ISA stated it would ...
- E-2 Treaty Investor Visa Eligibility for Israel Expected May 1
Israeli entrepreneurs will be able to get E-2 investor visas to launch startups in high-tech and other industries in the United States, and to work in the country to develop those businesses. Reciprocal rules will allow US investors to start new businesses in Israel using B-5 visas....
- 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,...
- 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...
- Good Night 2019!
It has certainly been an interesting 2019 in the Israeli Hi-Tech space, here is a rundown of 10 highlights, in case you missed them......
- Pregnant Women May Now Be Put on Unpaid Leave without Labor Ministry Approval
In light of the COVID-19 crisis, many employers, including many of our clients, have been forced to send their employees to unpaid leave. However, in the case of pregnant women, women and men undergoing infertility treatment, and women returning to work after maternity leave, employers are required ...
- 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....
- Foreign Corrupt Practices Act (FCPA): Israel Beware – Trends in Enforcement.
Intuitively, Israeli companies and their directors would likely assume that their businesses are immune to investigation and the assessment of penalties by US regulators that are separated by a vast ocean and located more than 9,500 kilometers away. The reality, however, stands in contrast with...
- Holland & Knight's Israel Practice Newsletter - Winter 2017
Holland & Knight invites you to read our Winter 2017 Israel Practice newsletter, in which our authors discuss pertinent American-Israeli topics. As Israel has been a crossroads and a prolific source of new ideas for more than 3,000 years, a natural tradition of inventiveness finds its most...