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Several days ago, FINRA released guidance updating its Frequently Asked Questions relating to Rule 2210 on Advertising and Public Communications to address Artificial Intelligence.  This follows after FINRA has consistently been noting that the use of AI and AI tools should be addressed by member firms in their policies and procedures and may implicate their…

The Securities and Exchange Commission announced an upcoming meeting of its Investor Advisory Committee, which will be held on June 6, 2024.  The agenda includes a number of interesting topics.

The Committee will consider and address the impact of “finfluencers.”  The agenda notes that recent studies have found that these social media influencers who focus…

The U.S. Securities and Exchange Commission has been attentive to “AI-washing,” wherein public companies or other regulated entities make misleading or false claims in an effort to benefit from investor interest in AI-related technologies. 

We comment on these trends in our article here.

On April 15, 2024, Securities and Exchange Commission Division of Enforcement Director Gurbir Grewal delivered remarks during a Program on Corporate Compliance and Enforcement Spring Conference 2024.  He addressed artificial intelligence (“AI”) and the concept of “AI-washing,” wherein public companies make overly positive, misleading or false claims in an effort to benefit from investor interest…

In recent wide-ranging remarks punctuated with a number of movie references and analogies (some that I confess were lost on me), Securities and Exchange Commission Chair Gensler spoke about various aspects of Artificial Intelligence (“AI”).  The Chair noted, as he has consistently, that AI may pose systemic risk or aggravate risks—Chair Gensler discussed herding and…

New Topics and Content Highlight FINRA’s Increased Focus on Cybersecurity, Crypto Assets, Artificial Intelligence, Market Integrity, Off-Channel Communications and Other Key Risk Areas

On January 9, 2024, the Financial Industry Regulatory Authority, Inc. (“FINRA”) published the 2024 FINRA Annual Regulatory Oversight Report (the “Report”), which builds on the structure and content of FINRA’s prior reports…

The Financial Stability Oversight Council recently released its annual report.  Not surprisingly, this year’s report reviewed the banking failures in the early part of the year.  In discussing the “vulnerabilities in the banking sector” that resulted in the bank failures, the Report cited poor risk management practices and heavy reliance on uninsured deposits as…

February 14, 2023 Webinar

1:00 pm – 2:00 pm ET

Register here.

Financial market participants increasingly rely on technological tools such as predictive data analytics, artificial intelligence (AI)/machine learning (ML), differential marketing and game-like features to provide financial services to customers. These tools, also referred to as Digital Engagement Practices (DEPs), are common features…

October 27, 2022 New York

8:00am – 5:30pm ET

Register here.

Our third Artificial Intelligence & Financial Services Symposium will resume on October 27, 2022. As in 2019, we will focus on the legal, contractual and regulatory aspects of using AI to deliver financial services. Topics will include:

  • How Financial Institutions and Insurance Companies
…

CB Insights summarized 2020 corporate venture capital (“CVC”) financing trends in 2020 in its recent report. Globally, CVC-led deals raised over $73.1 billion in 2020 in 3,359 transactions. While global deal levels declined by 1.7%, CVC-backed funding rose by 24% year-over-year.  CVC-backed funding increased by 24% year-over-year in the United States.  The number of…