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…
The integration of artificial intelligence into companies’ business practices poses increased cybersecurity risks, which we have previously written about here. As AI systems become ubiquitous, they also become targets for…
As artificial intelligence (“AI”) use and capabilities surge, a new risk is emerging for companies: AI whistleblowers. Both increased regulatory scrutiny over AI use and record-breaking whistleblower activity has set…
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…
In July, we previewed the new rules adopted by the Securities and Exchange Commission (“SEC”) for Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure. Under these rules, Item 1.05 of…
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…
The SEC’s new cybersecurity rules for public companies became effective on December 18, 2023. The rules require disclosure of a cybersecurity event within four business days of a determination that it…