The EU’s Court of Justice has ruled that a clause in a property lease, between a mall owner and a supermarket “anchor tenant”, which gives that tenant the ‘right to approve’ the granting of leases to competing stores is not anti-competitive ‘by object’.

On January 21, 2015, the Capital Markets, Insurance and Savings Department at the Israeli Ministry of Finance issued a draft circular which imposes, among other things, certain obligations and restrictions on Israeli financial institutions when giving leveraged loans, including disclosure and reporting obligations and establishing particular internal requirements and underwriting…

Regulation of the activities of Credit Rating Agencies (“CRAs”) in Israel is fairly new with the first piece of legislation to specifically regulate CRAs being enacted  in March 2014 in the form of the Law to Regulate the Activity of Credit Rating Companies, 2014 (“the CRAs Law”)[1]. The legislation process…

The Israeli Securities Authority (the “ISA”) has followed in the SEC’s footsteps, and recently published guidelines with regard to the measures to be taken by issuers in order to ensure that investors in private placements are indeed “Sophisticated Investors” within the meaning of the Securities Law, 1968 (the “Securities Law”).…

After attracting the attention of the Israel Bar Association and generating considerable controversy, the 13th Amendment to the Israeli Prohibition on Money Laundering Law (“the Amendment”) has been approved by the Israeli parliament. According to the Amendment, for the first time, lawyers and accountants are required to actively collect information…

Trading platforms are web-based platforms that enable investors to trade in financial assets, such as foreign currency derivatives. As a result of the Internet revolution, these platforms provide an alternative trading system to that provided by banks and financial institutions which are subject to regulation by the Bank of Israel.…

Until recently, an offer of foreign mutual fund units to the public in Israel was possible only under a fund prospectus approved by the Israel Securities Authority (ISA), unless the ISA exempted the fund from its duty of publishing such prospectus. Since this process was expensive and difficult, such exempts…

17 July 2014 – Credit Rating Agencies (CRAs) fulfill an important role in the capital market by predicting the probability of a borrower to comply with its commitments and repay the debt. This information is often taken into consideration by investors and, eventually, impacts on the interest rate that a…

At the beginning of 2014, the Israeli Parliament (Knesset) enacted the Law for the promotion of Competition and the Reduction of Centralization (portion of whose provisions have already entered into effect while others will enter into effect gradually, until 2016).  The law is based on the recommendations of the Committee…