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 17, 2024, Colorado passed Senate Bill 24-205 (“the Colorado AI Law” or “the Law”), a broad law regulating so-called high-risk AI systems that becomes effective on February 1,…
Luke Dembosky, Avi Gesser, Erez Liebermann, Jim Pastore and Matt Kelly were all ranked by Chambers & Partners in the Privacy & Data Security: Cybersecurity category. For this category, Chambers…
On May 23, 2024, the U.S. Department of Housing and Urban Development (“HUD”) announced that, effective immediately, Federal Housing Administration (“FHA”)-approved Mortgagees are subject to a drastically heightened cybersecurity incident…
We invite you to join members of our Consumer Finance and DSS Groups on May 21, 2024 from 4:00 pm to 5:00pm EDT for the fifth installment in a quarterly…
Despite much fanfare, and a process that seems to edge ever nearer to completion, the EU AI Act still has not been formally adopted. The Act still has to undergo…
On March 27, 2024, the U.S. Department of Treasury (“Treasury”) released a report on Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector (the “Report”). The Report was released…
Online customer service chatbots have been around for years, allowing companies to triage customer queries with pre-programmed responses that addressed customers’ most common questions. Now, Generative AI (“GenAI”) chatbots have…
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 December 18, 2023, the Securities and Exchange Commission’s (the “SEC”) rule requiring disclosure of material cybersecurity incidents became effective. To date, 11 companies have reported a cybersecurity incident under…