Following extensive consultations, the European Commission’s High-Level Expert Group on AI released ethics guidelines on the use of artificial intelligence. Three broad principles emerged from those guidelines, suggesting...more
We recently discussed the topic of risk management as it relates to artificial intelligence (AI) in financial services, and suggested certain tips for the financial services sector. This article is the first of a series that...more
5/2/2019
/ Algorithmic Trading ,
Artificial Intelligence ,
CFTC ,
EU ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
MiFID II ,
Policies and Procedures ,
Popular ,
Registered Investment Advisors ,
Risk Management ,
Robo-Advisors ,
Securities and Exchange Commission (SEC) ,
Securities Traders
Technology is rapidly changing the way investment advisers deliver services to their clients. Funds are now using a range of technology solutions, from advanced trading algorithms to artificial intelligence and machine...more
2/4/2019
/ Artificial Intelligence ,
Bias ,
Corporate Governance ,
Data Collection ,
Data Integrity ,
Data Management ,
Data Security ,
Financial Services Industry ,
FinTech ,
Investment Funds ,
Popular ,
Risk Management ,
Transparency
This Update highlights key legal and policy developments in cybersecurity and privacy law that may impact important trends for 2019 and beyond. A central takeaway from 2018 is that regulators in the U.S. and abroad are...more
1/28/2019
/ California Consumer Privacy Act (CCPA) ,
Carpenter v US ,
CLOUD Act ,
Cybersecurity ,
Data Breach ,
Data Protection ,
EU ,
Facebook ,
General Data Protection Regulation (GDPR) ,
Google ,
Hackers ,
International Data Transfers ,
Marriott ,
Microsoft ,
Personal Data ,
Personally Identifiable Information ,
Popular ,
Power Plants ,
Risk Management ,
Russia ,
Securities and Exchange Commission (SEC) ,
Stored Communications Act
In its June 22, 2018, decision in Carpenter v. United States, a 5-4 majority of the Supreme Court held that a criminal defendant’s Fourth Amendment rights were violated when the government obtained a court order requiring his...more
6/29/2018
/ Carpenter v US ,
Cell Phones ,
Cell Site Location Information (CSLI) ,
Criminal Convictions ,
Electronic Records ,
Electronically Stored Information ,
Exigent Circumstances ,
Fourth Amendment ,
Geolocation ,
Location Data ,
Probable Cause ,
Reasonable Expectation of Privacy ,
Remand ,
Reversal ,
SCOTUS ,
Third-Party ,
Warrantless Searches
The Clarifying Lawful Overseas Use of Data Act (CLOUD Act) was recently signed into law as part of the omnibus appropriations bill. ...more
5/1/2018
/ CLOUD Act ,
Cloud Storage ,
Criminal Investigations ,
Dismissals ,
Electronically Stored Information ,
Extraterritoriality Rules ,
International Litigation ,
Mootness ,
SCOTUS ,
Search Warrant ,
Stored Communications Act ,
Subpoenas ,
US v Microsoft
On Feb. 21, the Securities and Exchange Commission (SEC) released interpretive guidance on public companies’ disclosure practices regarding cybersecurity breaches and risks to the public....more
3/1/2018
/ Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Disclosure Requirements ,
Hackers ,
Insider Trading ,
Investment Adviser ,
New Guidance ,
Personally Identifiable Information ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC)
Dans moins de quatre mois, le 25 mai 2018, le règlement général de l'Union européenne sur la protection des données (« RGPD ») entrera en vigueur et la loi française, actuellement en discussion devant le parlement, qui tient...more
2/5/2018
/ Data Processors ,
Data Protection ,
EU ,
EU Data Protection Laws ,
France ,
General Data Protection Regulation (GDPR) ,
Information Technology ,
International Data Transfers ,
Personal Data ,
Personally Identifiable Information ,
Risk Management
In less than four months, on May 25, 2018, the European Union’s General Data Protection Regulation (GDPR) will enter into full effect, bringing with it an array of new individual rights and regulatory requirements....more
On August 7, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert summarizing the results of its second cybersecurity preparedness examination. The...more
In a pair of decisions issued on June 5, the Supreme Court sharply curtailed the scope of financial sanctions available in civil securities enforcement and criminal drug trafficking cases. In addition to the results, which...more
6/9/2017
/ Disgorgement ,
Enforcement Actions ,
Financial Services Industry ,
Forfeiture ,
Forfeiture Statutes ,
Honeycutt v. United States ,
Investment Management ,
Joint and Several Liability ,
Kokesh v SEC ,
Misappropriation ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Statute of Limitations ,
White Collar Crimes
Last summer, in a closely watched decision, the United States Court of Appeals for the Second Circuit quashed a warrant issued to Microsoft seeking a customer’s electronic communications that the company had elected to store...more
2/3/2017
/ Criminal Investigations ,
Electronically Stored Information ,
Email ,
En Banc Review ,
Extraterritoriality Rules ,
Internet Service Providers (ISPs) ,
Ireland ,
Microsoft ,
Search Warrant ,
Stored Communications Act ,
Subpoenas
On Dec. 28, 2016, the New York State Department of Financial Services (NYDFS) published a revised version of its “Cybersecurity Requirements for Financial Services Companies” (the “Regulations”). The revised Regulations...more
1/7/2017
/ Banks ,
Chief Information Security Officer (CISO) ,
Covered Entities ,
Cybersecurity ,
Data Retention ,
Delays ,
Department of Financial Services ,
Employee Training ,
Encryption ,
Financial Institutions ,
Incident Response Plans ,
Insurance Industry ,
Proposed Regulation ,
Risk Assessment ,
Third-Party Service Provider