On February 20, 2025, the SEC announced the creation of the Cyber and Emerging Technologies Unit (CETU) “to focus on combatting cyber-related misconduct and to protect retail investors from bad actors in the emerging technologies space.” The CETU’s focus on protecting retail investors harkens back to similar SEC initiatives under former SEC Chairman Jay Clayton.
Acting
Goodwin Procter Blogs
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FDA Publishes Its First Draft Guidance On Use of Artificial Intelligence in the Development of Drugs and Biological Products
On January 7, 2025, the FDA issued a draft guidance called Considerations for the Use of Artificial Intelligence to Support Regulatory Decision-Making for Drug and Biological Products. The document clarifies how sponsors, manufacturers, and other industry developers should approach artificial intelligence (AI) to support safe, effective development and marketing of AI-based tools.
The guidance…
FDIC Announces $1.775 Million Settlement with Arkansas-Based Bank and Employees
On May 17, 2024, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with an Arkansas bank and nine of its employees, resolving allegations that the bank and the employees violated Section 5 of the Federal Trade Commission Act (FTC Act), Section 8 of the Real Estate Settlement Procedures Act (RESPA), the Fair Credit Reporting Act (FCRA),…
CFPB and European Commission Release Report Regarding “Critical” Priority Areas for Consumer Financial Protection Issues
In April 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Commissioner for Justice and Consumer Protection of the European Commission (European Commission) announced that three meetings had been convened with senior staff and subject matter experts to discuss “shared priority areas” of concern for consumer financial protection issues. The CFPB and the…
2nd BCLT Advanced Life Sciences Institute
Rapid advancement in life sciences technologies has made keeping up with the legal implications more important than ever. Join the Berkeley Center for Law and Technology for the 2nd BCLT Advanced Life Sciences Institute, where you will learn from the experts about cutting-edge issues impacting your life sciences practice.
The programming will share key…
Interpretable Algorithms as a Potential Solution to CFPB’s Guidance on AI-driven Credit Denials
In September 2023, the Consumer Financial Protection Bureau (CFPB) issued guidance on the use of artificial intelligence in issuing credit denials, a prevalent practice among lenders. The CFPB explained that when denying a credit application, lenders must provide a substantive reason behind the denial. The guidance further explains that the Equal Credit Opportunity Act (…
USPTO’s New Guidance on AI-Assisted Inventions: The Impact on the Use of AI in the Life Sciences
On February 12, 2024, the US Patent Office and Trademark Office (USPTO) released the Inventorship Guidance for AI-assisted Inventions (the Guidance). We previously discussed the Guidance here.
Following up on the Guidance, the USPTO released two examples illustrating what the USPTO considers proper inventorship analyses for AI-assisted inventions. Each example sets forth…
FCC Confirms A.I.-Generated Robocall Voices Are “Artificial” under the TCPA
Last week, the Federal Communications Commission (FCC) released a Declaratory Ruling stating that existing federal regulations related to using “an artificial or prerecorded voice” to deliver a telephone message, also encompass voices generated by artificial intelligence (AI). The ruling does not expand prohibitions or definitions set forth in the applicable law – the Telephone Consumer…
