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The Securities and Exchange Commission (the “SEC”) recently announced an upcoming roundtable discussion focused on the role of Artificial Intelligence (“AI”) in the financial industry.  Scheduled for March 27, 2025, the event will take place from 9 a.m. to 4 p.m. at the SEC’s headquarters in Washington, D.C.  It will be open to the public…

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…

The Financial Industry Regulatory Authority, Inc. (“FINRA”) published its 2025 Annual Regulatory Oversight Report (the “Report”), which builds on the structure and content of FINRA’s prior reports for 2021-2024. This year, the Report adds new topics relating to the third-party risk landscape, registered index-linked annuities and extended hours trading. The Report also includes new content…

The Securities and Exchange Commission’s Office of the Investor Advocate recently released its Report on Activities for the Fiscal Year 2024 to Congress.  The Securities Exchange Act of 1934 requires the Investor Advocate to file two reports annually with Congress.  The Office is mandated to assist retail investors, identify problems that investors may have, analyze…

At the Practising Law Institute’s 56th Annual Institute on Securities Regulation, panelists discussed how public companies are addressing cybersecurity and artificial intelligence (AI) related issues.

Cybersecurity Disclosure Landscape

As cyber threats continue to evolve and challenge companies, the SEC has honed its focus on corporate disclosures related to cybersecurity incidents, risk management, and governance practices. …

Priorities Include Artificial Intelligence and Other Emerging Technologies, Complex Products, Reg BI, Cybersecurity, Outsourcing, Private Funds and Compliance with New and Amended SEC Rules

On October 21, 2024, the Division of Examinations (the “Division”) of the U.S. Securities and Exchange Commission (“SEC”) released its examination priorities for fiscal year 2025 (which started October 1, 2024).

The Director of the SEC’s Division of Corporation Finance (the “Division”), Erik Gerding, shared his views on the state of public company disclosures during 2023 and the SEC Staff’s review priorities for 2024.  The statements were made in April 2024 at the Practicing Law Institute’s 2024 The SEC Speaks Conference and were recently published in…

The Securities and Exchange Commission’s Office of the Investor Advocate recently issued its fiscal year 2025 Report on Objectives. The Report is one of two annual reports required to be filed by the Investor Advocate with the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the…

On June 27, 2024, the Financial Industry Regulatory Authority, Inc. (“FINRA”) issued Regulatory Notice 24-09 (the “Notice”) reminding member firms that FINRA’s rules and the securities laws apply to the use of artificial intelligence (“AI”), including large language models and other generative AI (“Gen AI”) technology, just as they apply when member firms use any…