2024 was characterized by a multitude of regulatory directives to payment companies and to payment initiation companies as part of the preparations for the licensing obligation that came into effect in June 2024. This year...more
1/7/2025
/ AML/CFT ,
Capital Markets ,
Compliance ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Harmonization Rules ,
Israel ,
Israel Securities Authority (ISA) ,
Licensing Rules ,
Payment Systems ,
Proposed Regulation ,
Regulatory Requirements ,
Risk Management ,
Strategic Planning
The Israel Securities Authority recently published a legal staff position aimed at clarifying the applicability of the Payment Services and Payment Initiation Regulation Law to activities conducted within trust/escrow...more
The Israel Securities Authority recently published a staff legal position addressing the licensing requirements for businesses operating in the “Buy and Sell” or “Reseller” model in online marketplaces. The position clarifies...more
12/4/2024
/ E-Commerce ,
Exemptions ,
Internet Retailers ,
Israel ,
Israel Securities Authority (ISA) ,
Licenses ,
Online Marketplace ,
Online Platforms ,
Payment Systems ,
Resales Agreements ,
Supply Contracts ,
Third-Party Service Provider
The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment...more
The emerging risks in the financial services market and the inception of the Regulation of Payment Services and Payment Initiation Law prompted the Capital Market, Insurance and Savings Authority (CMISA) to amend a series of...more
8/14/2024
/ Banking Sector ,
Capital Markets ,
Compliance ,
Corporate Governance ,
Cybersecurity ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Guidance Update ,
Insurance Industry ,
Israel ,
New Guidance ,
p2p ,
Payment Systems ,
Related Parties ,
Risk Management
As part of its actions to increase competition in the payments market, and alongside the entry into force of the Regulation of Payment Services and Payment Initiation Law, 2023, the Bank of Israel has opened access to...more