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Department of Justice (DOJ) Artificial Intelligence Securities and Exchange Commission (SEC)

BCLP

SEC and DOJ Heighten Focus on AI Washing

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The SEC recently charged Ilit Raz, the CEO of Joonko Diversity Inc., a failed recruitment startup, with "AI washing" based on allegedly false claims that her company had developed an “automatic recruiting solution” to help...more

Vinson & Elkins LLP

Cooperation and Compliance: Navigating Artificial Intelligence at the Securities Enforcement Forum

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On May 23, 2024, the Securities Enforcement Forum West debuted its first-ever panel on the impact of artificial intelligence (“AI”) on securities enforcement, regulation, compliance, and practice, signaling an increased focus...more

Rothwell, Figg, Ernst & Manbeck, P.C.

Pay No Attention to that Man Behind the Curtain: Federal Regulators Crack Down on AI Washing

After more than a decade of development, Amazon has pulled the plug on its “Just Walk Out” technology where Amazon would use artificial intelligence (AI) and machine learning to analyze footage from in-store cameras to...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI-Enabled Compliance: Keeping Pace With the Feds

The potential for artificial intelligence (AI) to transform business has commanded enormous attention over the past year. Little noted, however, is the U.S. government’s increasing — and increasingly sophisticated — use of AI...more

Jenner & Block

DOJ Announces New Whistleblower Rewards Program and Enhanced Focus on AI-Related Risks

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The Department of Justice (DOJ) recently announced two new measures to enhance its corporate criminal enforcement efforts: a whistleblower rewards program and updated guidance under which federal prosecutors will assess risks...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Paul Hastings LLP

Public Company Watch: April 2024

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In the April edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC’s recent enforcement action regarding “AI Washing,” the SEC’s recent shadow trading case, proposed amendments...more

BakerHostetler

Weekly Blockchain Blog - May 2024

BakerHostetler on

Fintech and Crypto Firms Announce New Cryptocurrency Products - According to recent reports, a major U.S. fintech firm will begin letting its users accept payments in USDC. ...more

Latham & Watkins LLP

SEC Announces First-Ever Enforcement Actions for “AI Washing”

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The actions are part of increased regulatory scrutiny on how companies, investment advisers, and other market participants are using AI and their related disclosures. On March 18, 2024, the US Securities and Exchange...more

White & Case LLP

New Settlements Demonstrate the SEC’s Ongoing Efforts to Hold Companies Accountable for AI-Washing

White & Case LLP on

In the past few months, we have published several alerts concerning the increase in regulatory attention to "AI washing," or making unfounded claims regarding artificial intelligence ("AI") capabilities.1 Senior officials at...more

Ballard Spahr LLP

DOJ launches whistleblower pilot program and cracks down on artificial intelligence misuse

Ballard Spahr LLP on

Following a year of new DOJ policies and guidance designed to incentivize companies to self-report misconduct and to cooperate with government investigations, the DOJ has added a new pilot whistleblower rewards program. In...more

Jenner & Block

Client Alert: DOJ Announces New Whistleblower Rewards Program and Enhanced Focus on AI-Related Risks

Jenner & Block on

Continuing to prioritize corporate criminal enforcement, the Department of Justice (DOJ) announced two new steps it is taking to identify potential corporate misconduct and evaluate companies’ compliance programs. Deputy...more

White & Case LLP

DOJ Doubles Down on Warnings Against AI Misuse

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In February 2024, we published an alert concerning the increase in regulatory attention to "AI washing," or making unfounded claims regarding artificial intelligence ("AI") capabilities. Notably, on February 14, 2024,...more

ArentFox Schiff

Investigations Newsletter: Deputy Attorney General Monaco Warns Industries: “Fraud Using AI is Still Fraud”

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On March 7, Deputy Attorney General Lisa Monaco delivered the keynote remarks at the American Bar Association’s (ABA) 39th National Institute on White Collar Crime. She noted that artificial intelligence (AI) “holds great...more

Jones Day

DOJ Announces New Whistleblower Program and Enforcement Initiatives

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The Development: On March 7, 2024, Deputy Attorney General ("DAG") Lisa Monaco discussed updates to the Department of Justice's ("DOJ" or "Department") corporate criminal enforcement policies and announced a pilot program...more

Womble Bond Dickinson

DOJ Announces New Policies on AI Compliance and a Pilot Whistleblower Rewards Program

Womble Bond Dickinson on

Last week, senior Department of Justice leadership announced new policies and programs intended to further its “carrot and sticks” approach to corporate criminal enforcement, which has borne fruit with twice as many voluntary...more

WilmerHale

DOJ Announces Pilot Whistleblower Rewards Program and Increased AI Enforcement

WilmerHale on

On March 7, 2024, Deputy Attorney General Lisa Monaco announced Department of Justice (DOJ) initiatives to incentivize whistleblowers with payouts from civil or criminal forfeitures and to integrate artificial intelligence...more

Morgan Lewis

DOJ Update : Financial Awards for Corporate Whistleblowers, Enhanced Penalties for Fraud Involving AI Misuse

Morgan Lewis on

The US Department of Justice (DOJ) continues to enhance its tougher-on-corporate-crime policy stance as first announced by Deputy Attorney General Lisa Monaco in 2021. In remarks on March 7 and March 8, DAG Monaco and Acting...more

Wiley Rein LLP

DOJ to Use ‘Carrots to Wield Larger Sticks’ in 2024

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The more things change, the more things stay the same. For years, U.S. Department of Justice (DOJ) leadership has used the ABA National Institute on White Collar Crime and other major conferences to highlight enforcement...more

Cooley LLP

DOJ Warns of Harsher Punishment for Crimes Committed Using Artificial Intelligence

Cooley LLP on

On February 14, 2024, Deputy Attorney General Lisa Monaco announced that prosecutors would seek stricter sentences for crimes perpetrated using artificial intelligence (AI). Monaco also announced a new initiative – Justice AI...more

Troutman Pepper

2023 Year-In-Review: Key Enforcement Initiatives and Cases in Crypto, Cyber, SPACs, Whistleblowers, and the Future of...

Troutman Pepper on

It was a busy year for enforcement activity in the cyber, crypto, SPAC, and whistleblower spaces, with several pending actions that will likely have wide-ranging implications in 2024. We are also awaiting a ruling from the...more

White & Case LLP

Recent Regulatory Announcements Confirm Increased Scrutiny of “AI-Washing”

White & Case LLP on

In December 2023, we published an alert concerning US Securities and Exchange Commission ("SEC") Chair Gary Gensler's warning to public companies against "AI washing" – that is, making unfounded claims regarding artificial...more

Sheppard Mullin Richter & Hampton LLP

DOJ and SEC Officials Issue Harsh Warnings Concerning the Misuse of AI

In separate public speeches, senior officials from the Department of Justice and the Securities and Exchange Commission warned of harsh penalties against individuals and companies misusing AI for fraudulent purposes....more

Morrison & Foerster LLP

2024 Regulatory, Compliance, and Enforcement Predictions for Life Sciences Companies

The year 2023 was a busy one for regulatory, compliance, and enforcement developments in the healthcare and life sciences industries, and 2024 promises to be even busier. We tapped MoFo’s Life Sciences + Healthcare Compliance...more

Hinckley Allen

The 2023 Cyber Year in Review

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The Most Significant Developments in Cybersecurity and Cyber-Related Liability Risks - As we reflect upon 2023, it will unfortunately be remembered as a record-breaking year for ransomware and cybercrime....more

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