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Insights & News / Capital Markets
June 28, 2021
Webinar: Contacting Investors – Do's and Don'ts
The Israel Hedge Funds Association (IHFA) is hosting the webinar "Contacting Investors – Do's and Don'ts." As part of the webinar, Dr. Zvi Gabbay, the head of our firm’s Capital Markets Department, will discuss the legal infrastructure required for reaching out to investors.
June 14, 2021
IPO Wave Continues to Flourish – How Should Companies Prepare for an IPO?
The growing wave of IPOs on the Tel Aviv Stock Exchange is pushing an overwhelming number of private companies to consider going public.
Zvi Gabbay, head of the firm's Capital Markets Department and a former head of enforcement at the Israel Securities Authorities, was interviewed by the TheMarker for an article on the trend. Zvi explained how companies considering an IPO must behave vis-a-vis the public and the regulatory authorities in order to succeed.
April 17, 2021
Blockchain and Real Estate
Globes has dedicated its Real Estate Supplement for Israel's Independence Day to real estate innovation. Dr. Zvi Gabbay was asked to publish a guest column discussing the implementation of blockchain technology that enables the registration and performance of digital operations through a distributed network of computers in the real estate field. According to Zvi, once land registration is also based on blockchain, buyers will be able to purchase real estate property and take out a mortgage in exactly the same way online purchases are made today.
March 21, 2021
Webinar: 10 Years of Administrative Enforcement in Israel
The Rina and Meir Heth Center for the Study of Competition and Regulation at the College of Management is holding a webinar with former judges and legal experts entitled “10 Years of Administrative Enforcement in Israel.” Dr. Zvi Gabbay was invited to participate in the lawyers’ panel of experts, which will examine the impact of administrative enforcement tools on violations of the law in Israel.
March 12, 2021
High-Tech Companies’ IPOs – Meeting of Cultures on the Tel Aviv Stock Exchange
The corporate regime of public companies in Israel has developed around public protection against the controlling shareholder. These protections are not relevant to most high-tech companies, whose holdings are decentralized. Globes has published an article by Micky Barnea on this subject.
November 26, 2020
What Do Massive Weddings Have to Do with Corporate Compliance?
Our firm organized a webinar for legal advisers and compliance officers, in partnership with ACC. As part of the webinar, firm partner Dr. Zvi Gabbay lectured on the connection between ethics and obedience. Are they in competition or do they complement one another?
November 11, 2020
Dr. Zvi Gabbay Lectures on Distribution and Marketing of Hedge Funds
Dr. Zvi Gabbay lectured today on the distribution and marketing of hedge funds as part of a virtual conference held in collaboration with the Israel Hedge Funds Association and the international law firm Katten Muchin Rosenman.
October 19, 2020
Barnea Represented Canomed in Issuing a Series of Options
Hagit Ross, a partner in our Capital Markets Department, represented Canomed, a company engaged in the cultivation, marketing, and direct sale of medical cannabis, in the issuance of two options series. The issuance is expected to reach a value of NIS 6 million. Canomed is one of the first companies to promote the purchase of pharmacies licensed to sell medical cannabis, thus providing the company direct access to the end consumer. Canomed itself already owns several such pharmacies.
October 15, 2020
The Leaked FinCEN Files Harm the Fight against Money Laundering
In mid-September 2020, a series of articles were published by a group of foreign journalists, based on the collection and analysis of over 2,500 leaked documents from FinCEN, the US equivalent of the Israel Money Laundering and Terror Financing Prohibition Authority.
The leak of such sensitive information may cause banks and financial institutions to think twice before reporting suspicious financial activity, which would be a mistake. Check out Dr. Zvi Gabbay's op-ed in Calcalist on the subject.
September 15, 2020
“It’s A New World Out There – Hedge Funds Navigating COVID”
As part of our legal counsel to the Israel Hedge Funds Association, we are proud to be involved in the IHFA's 8th Annual Conference. The theme of the conference is “It's A New World Out There – Hedge Funds Navigating COVID.”
August 19, 2020
Zvi Gabbay Lectures Compliance Officer Training Course
As an expert in the compliance field, Zvi Gabbay was invited for the fourth straight year to lecture a compliance officer training course organized by the BDO Academy of Finance and MITIGATE. This unique practical course is geared to compliance officers in international financial organizations. During the lecture, Zvi discussed administrative enforcement and enforcement plans.
August 10, 2020
Providing Counsel in the Establishment of a New Investment Fund in Asia
Liquidity Fund of Meitav Dash will establish with MUFG Bank, the world’s largest Japanese bank, a new private investment fund in Asia. The new fund will be incorporated in Singapore, and will provide credit to companies in Asia, through securitization transactions of future cash flows. Our firm, led by attorneys Roy Engel and Yuval Lazi, accompanied Liquidity, which as part of the agreement will provide the joint company with management and underwriting services.
July 12, 2020
Dividend Distribution in Times of Covid-19
The recent dividend distribution by TASE-traded company Fox-Wizel Ltd. after receiving emergency funding from the Israeli government not only raised moral questions but also underscored the complexity facing many companies at this time. Globes published an op-ed by Micky Barnea in response to the backlash following the company's actions. Micky noted that a key challenge faced by companies is how to balance between dealing with the difficulties and uncertainties of the COVID-19 era, on the one hand, and the desire and responsibility to continue operations as commercial enterprises, on the other.
June 14, 2020
Israel and the US: Encouraging Corporations to Investigate Potential Misconduct on Their Own
Columbia Law School's Blue Sky blog published an article co-written by Hadar Israeli and Eran Elharar of Barnea and Joseph Facciponti and James Goldfarb of the New York law firm Murphy McGonigle. The article provides a comparative view of Israel and the US on corporate internal investigations.
May 27, 2020
Every Crisis Is an Opportunity – Webinar
On June 2, we will host a webinar together with the ACC. Dr. Zvi Gabbay will discuss the opportunity to upgrade the role of compliance officer in light of the coronavirus crisis. The webinar is geared for compliance officers and legal counsels.
May 24, 2020
An Opportunity for Regulators
The Israel Securities Authority's current enforcement policy forces officers and companies that have acted in good faith to prove as much in an administrative enforcement proceeding. Check out an opinion article by Dr. Zvi Gabbay and Shir Rozenzweig published in TheMarker about how regulators can adjust this policy.
May 20, 2020
Doing Business in Israel – Practical Law
This year, we were once again responsible for preparing the QA guide on doing business in Israel for the Practical Law website. The guide provides an overview of recent key developments that have affected doing business in Israel, including the legal system, foreign investment, employment, tax, competition, privacy, IP, etc.
May 7, 2020
FIMI Acquires Control of Amiad Water Systems
FIMI Opportunity Funds, a private investment fund, recently completed the acquisition of control of public company Amiad Water Systems Ltd. Micky Barnea represented Hachoshlim Fund Cooperative Agricultural Society Ltd., Amiad's largest shareholder, in the deal. As part of the deal, FIMI agreed to invest about USD 19 million in Amiad for a share allocation, thereby acquiring 5% more of the company's shares.
May 3, 2020
Capital Markets in the Age of Coronavirus
An MA expert, Micky Barnea was interviewed by the leading newspaper Globes as part of an extensive analysis on the long list of major deals that are being canceled and the financial uncertainty in this period. The article highlights how huge corporations are able to afford what little companies and the self-employed can only dream of. According to Micky, "Starting in February, we noticed a phenomenon in which time has become elastic. Usually people strive to keep deals at a steady pace, and once the handshake is made, they want to move faster. Now, less people are hurrying to complete a deal. They are taking time to see what will happen next in the market.”
April 19, 2020
Mobileye Insider Trading Investigation: Our Firm Represented Former Syneron VP in Settlement with SEC
On April 17, the United States Securities and Exchange Commission dropped its case against our client Amir Waldman.
Waldman, the former vice president of Israel-based medical device company Syneron Medical Ltd., was alleged to have made $4.3 million via insider trading on an autonomous driving system technology developer. He will pay the SEC nearly $2.2 million to end a civil enforcement lawsuit, a New York federal district judge announced Friday.
Zvi Gabbay commented on the decision as follows: "As in many cases, here too, a negotiation was being conducted at the same as we were preparing for trial, and it ultimately ended with an excellent result. This is a civil not a criminal case, and the arrangement, under which Amir does not admit or deny the facts, allows Amir to move on."