Regulatory

  • Our regulatory practice advises domestic and international companies, financial institutions and company officers on the ever-changing requirements of the various Israeli regulators. We assist our clients in navigating their way through the variety of Israeli regulators and governmental authorities, which tend to have different powers, authority and legislative motivation for the regulation of the various business activities that fall within their overlapping purview.

     

    We have extensive experience representing clients before the wide range of regulatory authorities. This has enabled us to establish over the years an excellent working relationship with many of Israel's regulators.

     

    On the non-contentious side we advise on:

     

    • The process for obtaining regulatory consents in order to operate or to acquire a material interest in a regulated company, including insurance companies, provident funds, financial services companies, members of the stock exchange, banks, telecommunication companies, energy companies, companies operating in the fields of defence and former government companies in which the State has declared a strategic interest
    • Regulatory consents and regulatory compliance applicable on a change of control
    • Corporate governance
    • Regulatory compliance and registrations applicable for the sale and marketing of products and services in Israel, including consumer products, food and drugs, turbines, financial products, military equipment and telecommunication devices
    • Business licences
    • Permits for the export of encryption technology and other dual use technology that would otherwise be unlawful under Israel's implementation of the Wassenaar Arrangement on Export Controls for Conventional Arms and Dual-Use Goods and Technologies
    • Risk management and regulatory compliance relating to fraud and financial crime, including money laundering, bribery, corruption, whistle blowing and matters relating to corporate and social responsibility. We are one of the few firms in Israel to have extensive experience working on cross-border bribery allegations and US Foreign Corrupt Practices compliance programs and investigations
    • Regulatory compliance and registrations applicable for the maintenance, storage or processing of a database
    • Advising American International Group, Inc. on the regulatory aspects of its acquisition of AIG Israel Insurance Company Ltd. from Aurec Gold Investments Ltd., including liaising with the Commissioner of Insurance and obtaining all necessary permits
    • Advising on the regulatory aspects and obtaining of necessary regulatory approvals from the Ministry of Communications in connection with the sale of approximately 20% of the issued share capital of Bezeq to clients of UBS
    • Advising JP Morgan on the regulatory aspects arising from its acquisition of Bear Stearns, and assisting it in complying with local licensing requirements, including by way of liaison with the regulators and the preparation of the relevant regulatory filings
    • Advising GE Healthcare and Microsoft on the formation and regulatory approvals required with regard to their 50-50 joint venture healthcare analytics and population health company, Caradigm
    • Representing Yediot Aharonot, Israel's largest telecommunications and media company, in connection with all telecommunication regulatory and corporate matters, including:

     

    (i) the setting up of a new sports internet portal known as "One" which ties in with its cable channel of the same name; and

    (ii) establishing a new cable and satellite channel called "ONE - HD" – obtaining all the necessary licences from the Telecommunications Ministry and the Cable Channel Council for the commencement of broadcasting

     

    • Representing the Israeli Association of Banks before the Goldschmidt Committee, a committee established by the Controller of Capital Markets at the Ministry of Finance, in connection with a proposed regulatory framework relating to the participation of Israeli institutional investors in consortium and syndicated loan transactions, including in the secondary market
    • Representing Dexcel Pharma Ltd. in high-value class actions brought against the company and other companies alleging the failure, on the part of Dexcel, to comply with regulatory requirements with respect to the contents of marketing materials and patient information leaflets
    • Advising a significant number of banks and investment houses, including Credit Suisse, CitiGroup, JP Morgan, Morgan Stanley, Deutsche Bank, Goldman Sachs, UBS, Bank of America Merrill Lynch, Barclays Capital and Lloyds Banking Group on the regulatory regimes governing the offer and sale of securities and fund units and the provision of investment advice and portfolio management services in Israel
    • Representing Reshet-Noga (one of Israel's two franchisees of Channel 2 – Israel's main commercial "free to air" TV channel), in connection with the establishment of a new cable and satellite channel called "Abla Meditation – Channel 25" – our work in this field included obtaining all the necessary licences from the Telecommunications Ministry and the Cable Channel Council for the commencement of broadcasting
    • Advising Booking.com (one of the world's largest internet portals for selling travel packages) on its entry into the Israeli market, including the corporate governance aspects of setting up a subsidiary in Israel and all other regulatory matters arising from its marketing, sales and distribution of air/shipping and other travel packages
    • Representing Readymix Industries Ltd. and Lime and Stone Industry Ltd. before the Shishinsky Commission, which examined the level of royalties which should be charged by the State for the use of national natural resources, and before the Blinkov Commission concerning real estate policy regarding quarries
    • Representing British Airways, Delta Air Lines and other international airlines in licensing and operational matters and regulatory proceedings
    • Representing Reshet-Noga on all regulatory and telecommunication issues arising from its successful bid for one of the Channel 2 terrestrial television franchises
    • Acting for NBC Europe and MTV with regard to telecommunications regulatory matters in Israel
    • Representing the Israel Electric Company in all aspects of its activities, including regulatory proceedings concerning licences and tariffs
    • Advising Teva with respect to regulatory matters, including the registration and licensing of its products with the Ministry of Health
    • Providing regular and ongoing regulatory advice to one of the world's largest tobacco companies