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Board Responsibility for AI Risk Oversight

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On August 17, 2023, we published an article on Board Responsibility for AI Risk Oversight with Directors & Boards, covering: The promises and risks of AI adoption The rapidly evolving regulatory landscape Application of the Caremark standard to AI risks Overlap of AI and ESG risks Board responsibility for AI oversight Awareness of critical AI uses and risks Understanding resource…

European Data Protection Roundup – June & July 2023

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Key takeaways from June and July include: Data transfers to the U.S.: Business may want to revisit their cross-border data transfer arrangements following the new adequacy decision for the EU-U.S. Data Privacy Framework, assess whether they are eligible to self-certify and, if they are, whether it makes sense to. Interplay between data protection and competition law: Businesses with high market…

National Cybersecurity Strategy (Part 2): The White House Targets Threat Actors and Urges International Partnerships

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The White House has certainly been true to its word on pushing forward on cyber. In July 2023, following the release of the Biden Administration’s (“the Administration”) National Cybersecurity Strategy (the “Strategy”), the Administration announced its Implementation Plan, detailing initiatives to execute the Strategy. Following that, the White House Office of the National Cyber Director (“ONCD”) announced a request for…

Security by Design and Default: CISA Looks to Drive Changes in Manufacturer Responsibility, Consumer Education and Private-Public Information Sharing

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In June, the Aspen Institute hosted a fireside chat with Jen Easterly, Director of the Cybersecurity Infrastructure Security Agency (“CISA”) to discuss current developments in cybersecurity and how the government is responding. Aligned with the White House’s National Cybersecurity Strategy released earlier this year and the May 2021 Executive Order on Improving the Nation’s Cybersecurity, Easterly discussed CISA’s security by…

SEC Proposes Rule to Eliminate or Neutralize Conflicts of Interest in the Use of “Predictive Data Analytics” Technologies

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On July 26, 2023, the U.S. Securities and Exchange Commission (“SEC”) issued proposed rules (the “Proposed Rules”) that would require broker-dealers and investment advisers (collectively, “firms”) to evaluate their use of predictive data analytics (“PDA”) and other covered technologies in connection with investor interactions and to eliminate or neutralize certain conflicts of interest associated with such use. The Proposed Rules…