Next week, Tesla investors will cast an unprecedented vote on what a court called the “largest chief-executive pay package in the history of public markets.” While the vote has been closely watched, little attention has been paid to the elephant in the (board)room: Musk’s threat not to develop Tesla into an artificial-intelligence leader if he
The UK Digital Markets, Competition and Consumers Act: What Does It Mean for Business?
The UK Digital Markets, Competition and Consumers Act (DMCCA) received Royal Assent on May 24, 2024, after a series of amendments ping-ponged back and forth between the House of Commons and The House of Lords. It is a major piece of legislation for businesses and consumers and reflects the most significant changes to the powers of
Guest Post: Inigo’s 2024 Defense Counsel Survey
In the following guest post, Ed Whitworth, the Head of Financial Lines at Inigo, and Yera Patel, Chief Legal officer and Head of Financial Lines Claims for Inigo, summarize the results of a recent survey Inigo conducted of U.S. securities litigation defense counsel. The original of the survey summary previously was published on Inigo’s blog,
SEC Enforcement Chief Discusses Five Principles of Effective Cooperation in Investigations
This event, together with its East Coast and now Midwest counterparts, offers regulators like me a unique opportunity to speak directly to leaders of the securities bar about issues of mutual concern. That’s what I’d like to do this afternoon – speak to you all directly about a topic that has been widely discussed at
Happenings from the NYSBA Commercial and Federal Litigation Section Spring 2024 Meeting
Over a beautiful, sunny weekend earlier this month (May 17-19), commercial litigators and judges from all over the State converged on Saratoga Springs and the beautiful Gideon Putnam Hotel, for the Commercial and Federal Litigation Section Spring 2024 Meeting. In addition to the receptions, dinners, golf and after-program discussions, all of which were excellent, the
SEC Investor Advisory Committee to Examine the New Frontier for Investment Advice and Discuss AI Regulation at June 6 Meeting
The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on June 6, 2024, at 10 a.m. ET. The meeting will be webcast on the SEC website. The committee will host two panels: Examining the New…
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Ten Things: How to Create a Strategic Plan for the Legal Department
Running an in-house legal department is not an easy job, regardless of whether you are a legal department of one or a legal department of 200. To start, there is never enough money, people, or time to get everything done. Second, priorities change frequently so prioritizing where to focus your scant resources is a challenge.
FTC Updates (May 13 – May 24, 2024)
Between announcing a joint public inquiry with the DOJ seeking information on serial acquisitions and roll-up strategies and Chair Lina Khan’s remarks at the 2024 American Economic Liberties Project Anti-Monopoly Summit, the FTC was active with regard to antitrust issues this week. The FTC provided a glimpse into the markets, in which it is currently
Frequently Asked Questions for FINRA Member Firms on AI Use in Public Communications
Several days ago, FINRA released guidance updating its Frequently Asked Questions relating to Rule 2210 on Advertising and Public Communications to address Artificial Intelligence. This follows after FINRA has consistently been noting that the use of AI and AI tools should be addressed by member firms in their policies and procedures and may implicate their
SEC’s Upcoming Investor Advisory Committee Meeting: Finfluencers and AI
The Securities and Exchange Commission announced an upcoming meeting of its Investor Advisory Committee, which will be held on June 6, 2024. The agenda includes a number of interesting topics.
The Committee will consider and address the impact of “finfluencers.” The agenda notes that recent studies have found that these social media influencers who focus