Banking Regulation

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Our Practice

HFN enjoys a close working relationship with Israeli regulators and is held in uniquely high regard by the regulatory authorities. HFN has advised and assisted many foreign financial institutions and securities firms in their dealings with the Bank of Israel, the Tel Aviv Stock Exchange (TASE), the Israel Securities Authority (ISA), the Capital Markets, Insurance and Savings Authority, the Israel Competition Authority and the Israel Money Laundering and Terror Financing prohibition Authority.

HFN has advised numerous foreign banks in connection with obtaining licences and permits from the Bank of Israel, and has assisted investors in obtaining the necessary permits from the Bank of Israel to acquire “means of control” in Israeli banking entities, Insurance Companies and other regulated institutions. The firm has assisted foreign securities firms to become members of the TASE or to obtain licences from the ISA to operate as investment advisers or investment marketers. In addition, the firm was instrumental in paving the way for foreign underwriters to operate in Israel, and is the only Israeli firm to have arranged for the licensing of foreign underwriters by the ISA. Recently, in light of the new Israeli financial services regulatory regime, the firm has been involved in structuring financial services activities of foreign financial services companies that are active in Israel.

The Banking and Finance department has been extremely busy advising many foreign banks and financial institutions on financing in Israel, project financing, and margin lending, as well as with respect to their duties and responsibilities pursuant to new reporting obligations introduced by the Bank of Israel with regard to foreign exchange derivatives and short-term Shekel bonds. The department is also involved in the drafting of special agreements between local participants in the Israeli capital markets, covering arrangements for trading in securities and options, as well as advising local financial institutions on their agreements with global service providers for various financial services. These financial agreements and services include derivatives, securitisations, securities lending and repo transactions, brokerage, custody and more.