What impact might current legislation have on digital assets? How can someone navigate through the complexities of cryptocurrency rules and regulations? This was an insightful conversation with two gurus of digital assets from CahillNXT, at the law firm Cahill. I met with Samson A. Enzer and Lewis Rinaudo Cohen at Consensus in Austin recently. They
Treasury issues request for information on use of AI in financial services
The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”). Written comments are due by August 12, 2024.
AI is a broad topic and the term is sometimes used indiscriminately; as the RFI suggests, most AI
Mid-Year Enforcement Update: SEC’s Continued Focus on Private Funds in 2024
As we reach the midpoint of 2024, the SEC’s enforcement actions continue to shape the private funds industry. From the continuing off-channel recordkeeping sweep to heightened scrutiny on AI claims, fiduciary obligations of fund managers, and insider trading, the SEC is as vigilant as ever. Compounding these efforts are significant variables, such as the upcoming
SEC Files “AI-Washing” Enforcement Action Against AI-Based Start-Up Founder
In a speech last December, as well as in several subsequent statements, SEC Chair Gary Gensler has emphasized the agency’s concerns with companies that are over-hyping their artificial intelligence (AI) capabilities in ways that mislead investors. In March, the agency filed enforcement actions against two investment advisors that allegedly misled investors about the firms’
“Creating a Safe and Thriving AI Sector” – MIT EmTech Digital Conference
The session “Creating a Safe and Thriving AI Sector” at the MIT EmTech Digital conference was led by Asu Ozdaglar, the Deputy Dean of Academics at MIT’s Schwarzman College of Computing. With the poise of a seasoned orator and the precision of a chess grandmaster, Ozdaglar dove into the labyrinth of AI development, focusing on
In-House Corner: How We’re (Semi) Embracing AI
This feature of our blog is where our in-house readers share tips, anecdotes and thoughts about things that come up in their daily practice. This particular batch of thoughts is about how in-house practitioners are embracing generative AI so far:
Q&A with the Mississippi Securities Division: New Technology, New Rules and New Challenges
The Mississippi Securities Division is the closest regulator to the investing public of Mississippi. Among other tasks, they protect investors from fraud and abuse and make sure those licensed securities professionals doing business in the state are in compliance with the necessary securities laws. Today, securities regulators face a quickly changing landscape of new technology, new
“Elections and the Future of Misinformation” – MIT EmTech Digital Conference
In the midst of a historic election year, the topic of technology’s role in shaping democratic processes has never been more pertinent. At the MIT Technology Review’s EmTech conference “Elections and the Future of Misinformation” session, Nick Clegg, President of Global Affairs at Meta, provided a comprehensive look at how social media influences elections and
FCA speech – International regulatory developments affecting investment management
On 5 June 2024, the FCA published a speech by its Chief Executive, Nikhil Rathi, entitled International regulatory developments affecting investment management.
In his speech Mr Rathi begins by highlighting some of the key international initiatives that the FCA is involved with. This includes joint work with the Financial Stability Board on the design
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,