NOVEMBER 2008 | Renana Dolev Harel

On May 27, 2008, the Knesset passed an amendment to the Communications Law (Telecommunications and Broadcasting), 1982 (the "Amendment"), which deals with prevention of spamming and unsolicited content ("SPAM").

JULY 2008

Employer's Right to Access Employee's e-mail; Employer's Burden of Proof Regarding Employee's Attendance; Duty to Specify Reasons for Termination;

JULY 2008

The Israeli Shekel has become legal tender internationally, now that Israel has been made an official member of the international CLS (Continuous Linked Settlement) Bank system. The CLS Bank system is a global multi-currency clearing system which is designed to eliminate time differences in settlement of currency trading, providing a safer foreign exchange (FX) market.

JULY 2008

Under important amendments to the Securities Regulations (Details, Structure and Form of Prospectus) 1969, a reporting corporation may be exempted from providing the description of its business in a prospectus if it had already done so in its annual report in the previous year and in its quarterly reports published since the annual report, provided that all material changes are described in the prospectus.

JULY 2008

As part of the ongoing effort by the Israel Securities Authority (ISA) to improve corporate governance and to reinforce transparency at Israeli publicly traded companies, on June 15 and July 6, 2008 new amendments to the securities regulations under the Israeli Securities Law, 1968, were published.