The federal securities laws establish the authority of the Securities and Exchange Commission (“SEC” or “Commission”) to set accounting, auditing, and auditor independence standards to be followed in the preparation and the audit of the financial statements of public companies. The SEC’s Office of the Chief Accountant (“OCA”) is led by the Chief Accountant, who
FINRA Publishes 2026 Annual Regulatory Oversight Report
The Report highlights FINRA’s continued focus on generative artificial intelligence, cybersecurity, small-cap securities fraud, and third-party risk
The Financial Industry Regulatory Authority, Inc. (“FINRA”) published its 2026 FINRA Annual Regulatory Oversight Report (the “Report”), which builds on the structure and content of FINRA’s prior reports for 2021-2025. This year, the Report was published earlier than
Preparing an Annual Report on Form 20-F – Guide for 2026
Form 20-F is the form used for an annual report of a foreign private issuer (“FPI”) filed with the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”). This alert memorandum summarizes considerations that will affect the preparation of the annual report on Form 20-F for the year ending on December 31, 2025 (the
Digital Ad Analytic Firm Hit With AI-Related Disclosure Suit
As readers of this blog know, in recent months there have been a number of AI-related corporate and securities suits filed against companies and their executives (as discussed, for example, here). In general, these suits have mostly involved “AI-washing” allegations – that is, allegations that the defendant company misrepresented its AI-related prospects or capabilities.
Protecting AI-Influenced Work: Why Copyright and Patents Can Fall Short, and Why Trade Secrets Often Matter More
More and more, I hear some version of the same question from business owners: “We made something valuable with the help of AI. Can we protect it?”
Sometimes the “something” is obvious, like marketing copy, a logo, a photo, a product description, a training guide, or software code. Sometimes it is less obvious but more
Trump Administration Issues Executive Order on National AI Policy Framework
On Dec. 11, 2025, President Trump signed an executive order titled “Ensuring a National Policy Framework for Artificial Intelligence” that seeks to establish federal supremacy over state AI regulation.
White House Issues Executive Order Targeting State AI Regulation
As detailed in a recent guest post on this site, authorities in a variety of jurisdictions around the country and around the world are grappling with the right approach to regulate AI. Several U.S. state legislatures, including those in California, Colorado, Utah and Texas, among others, have already enacted AI-specific laws. Now, on December 11,
Trump’s Executive Order on AI
On December 11, 2025, President Trump issued another Executive Order. This one is intended to promote “national dominance” in “a race with adversaries for supremacy.” To “win,” the Order says, AI companies should not be encumbered by state regulation. “The policy of the United States,” the Order says, is “to sustain and enhance the
SEC Commissioner Crenshaw Fears Markets Have Become Like Casinos
Good morning and thank you Aaron [Klein]. It is a pleasure to be here this morning. While this isn’t a “farewell address,” I hope you will indulge me if I take the opportunity to reflect a little bit on what I’ve learned, what we accomplished prior to this year, and provide commentary on where I
Guest Post: Deterioration in U.S. Securities Litigation Risk
In the following guest post, Nessim Mezrahi and Stephen Sigrist analyze financial market trends to assess the recent variances in the U.S. securities litigation risk. Nessim Mezrahi is co-founder and CEO, and Stephen Sigrist is a senior vice president, at SAR LLC. SAR previously published this data on their U.S. Securities