While the SEC made an early foray into proposing rules to govern use of generative AI (Gen AI) by broker-dealers,[1] FINRA has been taking a more traditional approach to emergent…
On June 11, 2024, the U.S. Securities and Exchange Commission (“SEC”) filed its third matter this year involving “AI washing”—namely, alleged misstatements or omissions by securities market participants about the…
On May 16, 2024, the SEC adopted amendments to Regulation S-P (“Reg S-P”) one year after its proposed amendments (the “Proposed Amendments”). The finalized amendments (“Amended Reg S-P”) largely track…
Many public companies are starting to face increased risks of securities class action litigation based on statements about their use of AI that are alleged to have been false or…
On March 18, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced settled charges against two investment advisers, Delphia (USA) Inc. (“Delphia”) and Global Predictions Inc. (“Global Predictions”) for making…
Registered investment advisers (“RIAs”) have swiftly embraced AI for investment strategy, market research, portfolio management, trading, risk management, and operations. In response to the exploding use of AI across the…
We have previously written about the legal risks that companies face if they oversell the capabilities of their AI systems, known as “AI washing.” In particular, the FTC and the…
As we approach the end of the year, here are the Top 10 SEC cyber posts on the Debevoise Data Blog in 2023 by page views. If you are not…
As we approach the end of the year, here are the Top 10 Webcasts on the Debevoise Data Blog in 2023 by page views. If you are not already a…
On October 27, 2023, the Federal Trade Commission (“FTC”) approved an amendment (“Amended Rule”) to the Standards for Safeguarding Customer Information (the “Safeguards Rule”) that will require non-banking financial institutions…