• U.S. Securities Law Update | February 2020

    New Regulations Expand CFIUS Authority Regulations effective February 13, 2020 expand the jurisdiction of the Committee on Foreign Investment in the United States (“CFIUS”), which will have authority to review the following investments and transactions by foreign persons in the U.S. that may raise national security concerns: Control Transactions – Any transaction resulting in control of a “US business” by a “foreign person”. Non-Controlling TID Investments – An investment of any size (even non-controlling) by a “foreign person” in a “TID”, which are U.S. businesses involved in: Critical Technology Critical Infrastructure, or Sensitive Personal Data and where the “foreign person” … Continue reading "Intellectual Property and Privacy update | June 2020"
  • U.S. Securities Law Update | January 2020

    U.S. Reporting Obligations For Owners and Traders of U.S. Securities As we approach the annual deadline for making certain filings with the Securities and Exchange Commission (“SEC”), this memorandum is a reminder to our clients and friends regarding U.S. federal securities law requirements in connection with ownership of, or exercise of investment discretion over, securities registered in the U.S. Initial filing requirements commonly applicable to passive investors not involved in management or control of an issuer are summarized in the table below, with explanations of each following the table: Form Who must file Trigger First filing deadline Schedule 13G or … Continue reading "Intellectual Property and Privacy update | June 2020"
  • U.S. Securities Law Update | December 2019

    Updates Affecting your 2019 Annual Report on Form 20-F and Other SEC Filings December 2019 As we approach the end of 2019, we want to update our clients and friends on certain changes to the U.S. federal securities law reporting requirements affecting the filing of your annual report on Form 20-F and certain other filings with the Securities and Exchange Commission (SEC).  These changes were adopted by the SEC this year to modernize and simplify the disclosure requirements on companies traded in the U.S. while continuing to provide investors with all material information. The changes described below are also intended … Continue reading "Intellectual Property and Privacy update | June 2020"
  • Capital Markets Update | April 2019

    The U.S. Securities and Exchange Commission (SEC) has made it easier to keep confidential information out of company filings.
  • Securities Law Update | June 2018

    Israeli Securities Authority Expands Dual Listing Regime to Toronto, Singapore and Hong-Kong Stock Exchanges The Israeli Securities Authority (“ISA“) has published amendments to the Israeli Securities Law, 1968 (the “Israeli Securities Law“) enabling companies listed for trading on the Toronto Stock Exchange, Primary Listing (“TSX“), Singapore Exchange Mainboard, Primary Listing (“SGX“) and The Stock Exchange of Hong-Kong Limited Mainboard, Primary Listing (“HKEX“) to benefit from the dual-listing regime of the Israeli Securities Law. These benefits enable companies that are traded both on the Tel Aviv Stock Exchange (“TASE“) and on the TSX, SGX or the HKEX to satisfy their reporting … Continue reading "Intellectual Property and Privacy update | June 2020"
  • International Securities Update | January 2018

    U.S. Reporting Obligations For Owners and Traders of U.S. Securities The following memorandum is a reminder regarding certain U.S. federal securities law reporting requirements in connection with ownership of, or exercise of investment discretion over, securities registered in the U.S.  In recent years, the failure to file or update such reports has been an increasing focus of enforcement activity by the U.S. Securities and Exchange Commission (“SEC”). Initial filing requirements commonly applicable to passive investors not involved in management or control of an issuer are summarized in the table below, with explanations of each following the table: Form Who must … Continue reading "Intellectual Property and Privacy update | June 2020"
  • International Securities Update | December 2017

    Requirement for Foreign Private Issuers to Provide Financial Statements in “Interactive Data” Format using XBRL As we near year end, we would like to remind our clients and friends that foreign private issuers that use International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) are now required to file their financial statements filed with the Securities and Exchange Commission (“SEC”) in “interactive data” format using eXtensible Business Reporting Language (“XBRL”). What is “interactive data” format using XBRL? Interactive data requires that all issuers registered with the SEC include with certain SEC filings a new exhibit that … Continue reading "Intellectual Property and Privacy update | June 2020"
  • Legal Update - Capital Markets | March 2017

    U.S. Securities Law Update SEC Publishes “Taxonomy” to Require Foreign Private Issuers to Submit their Financial Statements in XBRL and Approves Rule Amendments to Ease Access to Exhibits in Public Filings. On March 1, 2017, the Securities and Exchange Commission (the “SEC”) published a “taxonomy” requiring foreign private issuers preparing their financial statements in accordance with International Financial Reporting Standards (IFRS) to submit those reports using XBRL. Additionally, the SEC voted to ease access to exhibits referred to in registration statements and periodic reports that were originally provided in previous filings. Submission of IFRS Financial Statements in XBRL Originally adopted by … Continue reading "Intellectual Property and Privacy update | June 2020"
  • The Year In Review – An Annual Publication Of The ABA/Section Of International Law published its International Securities and Capital Markets review. Attorneys Perry Wildes and Ayelet Krispin contributed Israel’s developments:
  • Capital Markets Client Update | December 2015

    New amendments to U.S. Federal Securities Laws will further ease reporting burden on companies:
  • Rule 10b-17 Compliance - Reminder

    Rule 10b-17 Compliance – Reminder for OTC Listed Companies   Companies with shares publicly traded on a national exchange in the United States (“National Exchange Companies”), such as the NYSE or the NASDAQ, as well as companies with securities listed over-the-counter (“OTC Companies”), such as on OTCQB or OTC Pink, must comply with the disclosure requirements of Rule 10b-17 (“Untimely Announcements of Record Dates”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).   Rule 10b-17 applies to any issuer that has a “class of securities publicly traded by the use of any means or instrumentality of … Continue reading "Intellectual Property and Privacy update | June 2020"