Client Update: Amendments to the Regulations for Periodic and Immediate Reports
On October 18th 2015 amendments to the Regulations for Periodic and Immediate Reports (1970) were published in the records (the “Amendments”). Within the framework of the Amendments, various provisions of the Regulations for Periodic and Immediate Reports (1970) were amended, including, inter alia, regulations regarding the inclusion of information by way of referral; extension of […]
Client Update: Court ruling – Disclosure of on-going negotiations
On January 28th 2015, the Economic Division of the Tel Aviv District Court delivered its ruling in the matter of Africa Industries Ltd. v. the Israeli Securities Authority and the Administrative Enforcement Committee. In its ruling, the Court addressed the question when and under which circumstances information regarding on-going negotiations be deemed as material information […]
Client Update: ISA Position Paper – Securities Fraud
On September 10th 2014, the ISA published a position paper listing certain behavior patterns that might indicate the attempt to fraudulently influence the price of securities, thus breaching Section 54(a)(2) of Securities Law, 1968 (the “Position Paper”).
Client Update: Amendment 25 to the Companies Law – Presence at Audit Committee Meetings
Client Update: Amendment 25 to the Companies Law – Presence at Audit Committee Meetings On August 6th 2014, Amendment 25 to the Companies Law (the “Amendment”) was published in the records. Within the framework of the Amendment, provisions of the Companies Law dealing with the presence of employees and office holders at Audit Committee meetings […]
Client Update: ISA Position Paper – Series of Securities
On July 20th 2014, the ISA published a position paper addressing two issues: (a) the meaning of the term “Series” used in the definition of “Securities” in the Securities Law, 1968; and (b) the manner in which “investors” should be counted for the purposes of Section 15A(a)(1) of the Securities Law (the “Position Paper”).
Client Update: ISA Position Paper – Draft Financial Statements as “Inside Information”
On June 23rd 2014, the ISA published a position paper regarding the status of draft financial statements as “Inside Information” (the “Position Paper”). Within the framework of the Position Paper, the ISA adopts the presumption in the criminal law, according to which information contained in draft financial statements shall be deemed, prima facie, as “Inside […]
Client Update: ISA Position Paper – Disclosure Regarding Expected Cash Flow
On April 1st 2014, the ISA published a position paper with various “Questions & Answers” regarding the required disclosure in connection with the company’s expected cash flow, as required under the amended regulations of the Securities Law, 1968 (the “Position Paper”).
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