To understand the litigation and regulatory risks that are coming in 2024 for private capital, it is helpful to look back briefly on recent events. Arguably, the single most important event over the last 18 months was the rapid increase in interest rates by the central banks in the United States, England, and Europe. From
Employers who rely on artificial intelligence driven tools for their recruiting and hiring processes may face new regulations in New York and New Jersey. In the past few weeks, three bills have been proposed (two in New Jersey and one in New York) that follow New York City’s Local Law 144 (“Local Law 144”), a
In July 2019, the UK Supreme Court (UKSC) handed down a judgment in a case that concerned the extent and operation of the principle of open justice (Cape v Dring). The question before the UKSC was how much of the written material placed before the court in a civil action should be accessible
Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation.
Key developments in February 2024:
29 February
FCA Regulation Round‑up: The UK Financial Conduct Authority (“FCA”) published its regulation round‑up for February 2024.
LIBOR: The FCA published a report containing the outcome of its review
Last week, OpenAI rolled out ChatGPT Team, a flexible subscription structure for small-to-medium sized businesses (with two or more users) that are not large enough to warrant the expense of a ChatGPT Enterprise subscription (which requires a minimum of 150 licensed users). Despite being less expensive than its Enterprise counterpart, ChatGPT Team provides for
On December 19, 2023, AI research company Anthropic announced that it had updated and made publicly available its Commercial Terms of Service (effective Jan 1, 2024) to, among other things, indemnify its enterprise Claude API customers from copyright infringement claims made against them for “their authorized use of our services or their outputs.” Specifically, Anthropic
In a recent public comment addressed to the United States Copyright Office, the Federal Trade Commission seemingly expanded upon remarks made at the National Advertising Division back in September that it will aggressively and proactively challenge alleged unfair practices involving artificial intelligence, even if that means stretching the meaning of “unfair” to increase its jurisdiction
In a previous post, we highlighted three key items to look out for when assessing the terms and conditions of generative artificial intelligence (“GAI”) tools: training rights, use restrictions and responsibility for outputs. With respect to responsibility for outputs specifically, we detailed Microsoft’s shift away, through its Copilot Copyright Commitment (discussed in greater detail
On October 30, 2023, President Biden issued an “Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence” (the “EO”), the first executive order directly addressing artificial intelligence.
Of particular interest to federal government contractors, the EO provides that within 365 days of publication, “to prevent unlawful discrimination from