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Disclosure Requirements Artificial Intelligence Securities and Exchange Commission (SEC)

Alston & Bird

Shareholders Sharpen Focus on AI-Related Securities Disclosures

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What Happened? As Alston & Bird’s Securities Litigation Group reported, the number of securities class actions based on AI-related allegations is rising. With six new filings in the first half of 2024 and at least five more...more

Fenwick & West LLP

Considerations for Upcoming 10-Q Disclosures

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With the end of the third quarter quickly approaching, companies may want to consider the following for their upcoming Quarterly Reports on Form 10-Q...more

Skadden, Arps, Slate, Meagher & Flom LLP

How and When SEC Recordkeeping Rules May Apply to AI-Generated Content

AI has revolutionized the way many businesses operate. Firms in the financial sector are eager to take advantage of rapidly developing technologies but do not want to risk running afoul of relevant Securities and Exchange...more

BCLP

Selected Recent Developments for Public Companies

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Public companies should take note of several recent developments, including: ..Reversal of the Pegasystems trade secrets lawsuit that nevertheless preserves guidance to take care when describing litigation as “without...more

Alston & Bird

Navigating AI-Related Disclosure Challenges: Securities Filing, SEC Enforcement, and Shareholder Litigation Trends

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Companies’ accelerating reliance on artificial intelligence (AI) means heightened Securities and Exchange Commission (SEC) and shareholder plaintiff scrutiny. Our Securities Litigation Group underscores what companies need to...more

KPMG Board Leadership Center (BLC)

Directors Quarterly: July 2024

Ongoing wars abroad, political division and election year uncertainty in the United States, along with continuing state, federal, and global regulatory discord on sustainability and artificial intelligence, among other...more

Dechert LLP

Dechert Cyber Bits - Issue 58

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SEC Issues New Guidance as to 8-K Disclosures Relating to Cybersecurity Incidents - On June 27, 2024, the U.S. Securities and Exchange Commission (the “SEC”) issued new guidance on the agency’s guidelines for cybersecurity...more

Orrick, Herrington & Sutcliffe LLP

AI Washing Enforcement Continues, Highlighting Risks to Companies and Investors

Last month, the U.S. Securities and Exchange Commission (“SEC”) expanded its “war” on AI fraud to include private market participants, filing securities fraud charges against Ilit Raz, founder and former CEO of defunct AI...more

Katten Muchin Rosenman LLP

ESG Guidepost | Issue 15

Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters....more

Paul Hastings LLP

Public Company Watch: June 2024

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In the June edition of our Public Company Watch, we cover key issues impacting public companies, including the recent SEC staff statement on cybersecurity disclosures in Form 8-K, structural defenses against shareholder...more

Baker Donelson

[Webinar] New Privacy and Cybersecurity Regulations: What Financial Institutions Need to Know to Stay Compliant - June 13th, 10:00...

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The financial services industry has seen a litany of new data privacy and cybersecurity challenges through the first half of 2024. Financial institutions are facing unprecedented compliance hurdles resulting from the...more

Carlton Fields

Expect Focus - Volume II, May 2024

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Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Spring 2024

Artificial intelligence is not just about chatbots. Increasingly, it is used by government for enforcement, and boards need to prepare for that, just as they need to get ready for upcoming climate disclosure requirements....more

Davis Wright Tremaine LLP

AI for IAs: How Artificial Intelligence Will Impact Investment Advisers

The use of artificial intelligence and machine learning technology solutions ("AI") is becoming increasingly common in all industries, including the registered investment adviser ("RIA") space. A recent survey by AI platform...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2024

The CFPB has issued a policy statement that provides an analytical framework for identifying what constitutes an abusive act or practice under the Consumer Financial Protection Act of 2010 (CFPA). The new guidance published...more

Latham & Watkins LLP

Recent Developments for Directors - April 2024 Edition

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SEC Wins “Shadow Trading” Case - The SEC notched a major win in its recent Panuwat case, described as the first-ever “shadow trading” enforcement action. After a biotech executive learned about his company’s imminent...more

WilmerHale

SEC Enforcement Director Warns Against AI Washing

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On April 15, 2024, Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, spoke at a compliance and enforcement conference regarding the challenges and potential missteps associated with the increased use of...more

White & Case LLP

SEC Warns Individual Actors of Potential Liability for AI-Related Security Risk Disclosure Failures

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Over the past few months, the Securities and Exchange Commission (the "SEC") has issued several warnings to companies to ensure accurate disclosure of the role and risks of artificial intelligence ("AI") in their businesses....more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for March 2024

Each month we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The Fifth Circuit’s stay of the SEC’s recent adoption of...more

Holland & Knight LLP

Beyond the Hype: The SEC's Intensified Focus on AI Washing Practices

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The U.S. Securities and Exchange Commission (SEC) is cracking down on how firms promote their artificial intelligence (AI) technologies to protect investors from falling victim to "AI-washing." On March 18, 2024, the SEC...more

Latham & Watkins LLP

AI and ESG How Companies Are Thinking About AI Board Governance

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Questions around the governance of artificial intelligence (AI) have come to the fore via recent, prominent US shareholder proposals and first-of-their kind enforcement actions, which we describe in depth here. It is in this...more

KPMG Board Leadership Center (BLC)

Directors Quarterly - Insights from the Board Leadership Center - April 2024

Directors Quarterly: April 2024- With the explosion of generative artificial intelligence (Gen AI), companies are facing the challenge of moving quickly—but not too quickly. Gen AI governance has moved to the top of many...more

Spilman Thomas & Battle, PLLC

Decoded Technology Law Insights, V 5, Issue 3, April 2024

Using AI to Build Cyber Resilience for Critical Infrastructure - "Cyber resilience serves as a literal survival strategy, offering a framework to detect threats, understand attacks, recover swiftly, and adapt to...more

Paul Hastings LLP

Key Takeaways from SEC Speaks 2024 Event

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Last week, Paul Hastings attended the Securities and Exchange Commission (SEC) Speaks 2024 event presented by the Practising Law Institute (PLI) in cooperation with the SEC on April 1 and 2. The SEC Speaks program provides...more

Proskauer - The Capital Commitment

A Tale of Two Regulators: The SEC and FCA Address AI Regulation for Private Funds

2023’s excitement for generative artificial intelligence (AI) prompted the SEC to respond on multiple fronts – stump speeches, rulemaking, new exam priorities and sweeps and previewing potential enforcement actions. SEC Chair...more

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