APRIL 2008

On February 28, 2008, ground breaking new regulations were published allowing certain Israeli institutional investors to charge additional types of fees and expenses from assets under management. Fees that can be deducted and borne by the beneficiaries include management fees, custody fees and specified other fees and expenses that were not permitted to be charged thus far.

APRIL 2008 | Dr. Samuel Borenstein, David Cohen

On March 18, 2008, important new legislation permitting dual listed companies to publish a shelf prospectus in Israel was passed in the Knesset, as part of Amendment No. 35 to the Securities Law, 1968.

JANUARY 2008

Recent amendments to the Companies Regulations (Rules regarding Compensation and Expense Reimbursement of External Directors) 2000 (the "Regulations") substantially increase the minimum and maximum allowed compensation for “external directors”.

JANUARY 2008 | Roman Krupnik-David

On November 19th, 2007, the Israeli Knesset passed a new Copyright Law, 5768 - 2007 (the "New Law"), repealing the Copyright Law, 1911 (as amended) and the Copyright Ordinance, 1924 (together the "Old Laws"), although they remain in effect until the New Law comes into force in May 2008. The New Law reinforces existing rights and provides new rights and protections to reflect new major technological and legal developments over the past 100 years.

JANUARY 2008 | Ofer Hanoh, Yuval Eden

The Joint Investment Trust Law, which is also known as the "Mutual Funds Law“, regulates the activity of mutual funds in Israel and their offerings to the public. Currently, foreign mutual funds may not be offered directly to Israeli investors. This is due to the difficulty that foreign mutual funds offering their units to Israeli investors would face in complying with all the Israeli regulatory requirements.