• Global Capital Markets Update | June 2020

    Reminder of Upcoming Date for Calculating Foreign Issuer Status As a reminder to our clients and friends, June 30 is the annual calculation date for Israeli companies to confirm their foreign private issuer (FPI) status for U.S. federal securities law purposes. If not already done, we recommend that issuers make the necessary arrangements to obtain the required information in advance of June 30 in order to calculate the percentage of their securities held by U.S. residents. Ownership of securities by U.S. residents is a key issue for many Israeli issuers because non-U.S. issuers with U.S. share ownership of 50% or … Continue reading "Intellectual Property and Privacy update | July 2020"
  • 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 | July 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 | July 2020"
  • Revised U.S. national security program may change the way you do business in the U.S.

    Under new rules in the United States, foreign persons are required to make mandatory filings for both controlling equity investments in U.S. “critical technology” companies and smaller, non-controlling equity investments in such businesses if a foreign person receives certain rights related to that business. What’s Important to Know? “Critical technology” includes traditional national security areas but is expected to soon include a variety of technologies associated with U.S. economic competitiveness. Transactions involving the acquisition of an equity interest of any size are subject to the new rules if certain rights accompany the equity rights, such as the right to a … Continue reading "Intellectual Property and Privacy update | July 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.