Generative artificial intelligence (AI) is reshaping the financial services sector, moving from pilot projects into scaled enterprise adoption. CB Insights’ latest report addresses 100 actual applications of generative Al in financial services and insurance (the “Report”). According to the Report, banks, insurers, and wealth managers are deploying large language models (LLMs) in order to improve
No Exit: Other Reasons to Stay Private
In No Exit, a recent paper, authors Brian J. Broughman, Matthew T. Wansley, and Samuel N. Weistein, describe how increased antitrust restrictions caused a decline in M&A exits by startups. However, instead of this leading to an increase in IPOs, companies remained private and used alternatives to access capital and liquidity.
Source: Broughman, Wansley, Weistein
SEC Creates Task Force to Tap Artificial Intelligence for Enhanced Innovation and Efficiency Across the Agency
The Securities and Exchange Commission today announced the launch of a task force on artificial intelligence (AI) that will spearhead the agency’s efforts to enhance innovation and efficiency in its operations through the responsible use of AI. Valerie…
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SEC Formally Withdraws Various Proposed Rules
The Securities and Exchange Commission (SEC) formally withdrew the following proposed Gensler era rulemakings:
- Substantial Implementation, Duplication, and Resubmission of Shareholder Proposals Under Exchange Act Rule 14a-8. In July 2022, the SEC published a rule proposal that would have amended the substantive bases to exclude shareholder proposals under the shareholder proposal rule.
- Conflicts of Interest
Artificial Intelligence Fraud: Beware of Succumbing to Technology’s Latest Fad
On April 9, 2025, in the case of Securities Exchange Commission v. Albert Saniger (Saniger),[1] the U.S. Securities and Exchange Commission (the SEC) charged Alberto Saniger Mantinan, former CEO of Nate, Inc., a privately held technology startup, with fraudulently soliciting investments in Nate during two rounds of fundraising from the spring of 2019 through
An Issue To Ponder
The world can sometimes be a complex place.
This general issue has been discussed several times on these pages – including most recently here.
A recent Wall Street Journal article titled “Critical Minerals Supply Faces Risk” notes:
“Critical minerals are essential raw materials used in high-tech manufacturing, from green-energy technologies to artificial intelligence and
This Week In Securities Litigation (Week of April 14, 2025)
The Commission filed on new cases last week. It was based on making false statements to market a new claimed AI product. Be careful, be safe this week. SEC Enforcement – Filed and Settled Actions Statistics: Last week the Commission … This Week In Securities Litigation (Week of April 14, 2025) Read More »
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SEC Announces Agenda, Panelists for Roundtable on Artificial Intelligence
The Securities and Exchange Commission today announced the agenda and panelists for the March 27 roundtable on artificial intelligence in the financial industry. “I look forward to hearing from the panelists on how emerging technologies,…
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House Financial Services Committee Solicits Public Feedback on Legislative Proposals to Facilitate Capital Formation
Earlier this month, the US House of Representative’s Financial Services Committee (the “Committee”) held a hearing entitled “The Future of American Capital: Strengthening Public and Private Markets by Increasing Investor Access and Facilitating Capital Formation.” During the hearing, the Committee examined over thirty bills and is soliciting feedback from the public on these bills, as
SEC Investor Advisory Committee: Recommendations on Traceability and Insights on AI Disclosures and Retail Investor Fraud
The U.S. Securities and Exchange Commission’s Investor Advisory Committee (the “Committee”) will meet March 6, 2025. During this meeting, the Committee will present its recommendations to the SEC concerning traceability issues under Section 11 of the Securities Act of 1933. The agenda also includes a panel on Artificial Intelligence (AI)-related disclosures and another on retail