Client updates
A new circular by the Israel Tax Authority determines the terms for granting options to employees when the vesting of such options is contingent upon performance milestones or the occurrence of an IPO or exit event.
With an eye to these other major markets, the Israel Securities Authority (ISA) has promulgated draft regulations for public comment that enable all reporting companies in Israel, who so desire, to publish their reports in English.
The Israeli Privacy Protection Authority (PPA) recently published a pronouncement whereby a collection of email addresses and the names of their owners also constitutes a database.
The Delaware Court of Chancery issued a precedent recently, whereby an acquisition agreement may be cancelled due to the occurrence of a “Material Adverse Effect” (MAE) in the acquired entity.
The Israeli Ministry of Energy published on November 26, 2018, a second call for bids, inviting international energy players to submit offers for the exploration of offshore soil.
A recently promulgated memorandum of law to amend judicial procedures proposes to add the possibility of filing claims against foreign entities in Israel for damage they caused in Israel as a result of acts or omissions performed outside of Israel.
The Israel Electricity Authority recently published a public tender for solar energy generation in vast photovoltaic fields connected to the national electric grid, with contenders bidding on the lowest price for the sale of solar energy to the national grid.
Recently, the UK Information Commissioner’s Office decided to take action against a non-European entity following an alleged breach of the GDPR.
Israeli signed the The Multilateral Instrument (MLI) Treaty, which will come into effect on January 1, 2019. The treaty will affect both Israeli and international corporations operating in Israel and overseas.
In light of the increasing magnitude and scope of cyber threats, as well as growing concerns about disruptions to public companies’ operations, the Israel Securities Authority (ISA) has published a Staff Position Statement addressing public companies’ required disclosures for all cyber-related issues.
The Ministry of Construction and Housing recently published a memorandum of law that prescribes a payment schedule for the first time that is specifically defined for urban renewal projects involving the addition of new apartments to existing buildings.
The Supervisor of Land Registration at the Ministry of Justice accepted a lawsuit filed by the housing committee of a condominium building in Tel Aviv and forbade one of the apartment owners from using his apartment for short-terms rentals (Airbnb, Booking).
This news flash features information on the statutory day of rest during upcoming general elections for local authorities and regional councils in Israel and an update on the new amendment to the Prevention of Sexual Harassment Regulations.
Israel’s Innovation Authority (the IIA, formerly the Office of the Chief Scientist) has issued new rules regarding the licensing of IIA-funded know-how for use by multinational corporations outside of Israel.
The Israel Tax Authority (ITA) recently launched an application that allows anyone who previously executed a real-estate transaction to check whether he or she has a credit balance in respect of an overpayment of betterment tax or purchase tax.
Both Brazil and India have recently passed new privacy protection laws. These laws may also apply to Israeli companies doing business in the countries.
An amendment to a block exemption for non-horizontal arrangements with no particular price restrictions was recently approved. The purpose of the amendment to the block exemption is to clarify the term “competitors,” which was defined in a general and vague manner in the original block exemption.
Over the last few days, the Privacy Protection Authority has begun sending in-depth questionnaires to various business entities for the purpose of examining these entities’ compliance with the Privacy Protection Regulations (Data Security) that came into effect on May 8, 2018.
In June 2018, the Bank of Israel published a new policy for authorizing small and digital banks. The Banking Supervisor announced that new banks can have initial regulatory capital of NIS 50 million - a substantial reduction of the levels previously required.
California recently passed a sweeping consumer privacy law that significantly increases the protection provided to people whose personal information is being collected.