News & Analysis as of

Machine Learning Financial Services Industry

Skadden, Arps, Slate, Meagher & Flom LLP

How and When SEC Recordkeeping Rules May Apply to AI-Generated Content

AI has revolutionized the way many businesses operate. Firms in the financial sector are eager to take advantage of rapidly developing technologies but do not want to risk running afoul of relevant Securities and Exchange...more

Troutman Pepper

U.S. Senator Rounds Introduces Legislation Aimed at Fostering AI Innovation in the Financial Services Industry

Troutman Pepper on

On August 27, U.S. Senator Mike Rounds (R-SD) introduced the “Unleashing AI Innovation in Financial Services Act” (S. 4951), a bill aimed at fostering artificial intelligence (AI) innovation within the financial services...more

Alston & Bird

CFPB Submits Comment Letter on Use of AI in Financial Services

Alston & Bird on

What Happened? On August 12, the Consumer Financial Protection Bureau (CFPB) submitted a comment letter in response to a Treasury Department Request for Information on the use of AI in financial services....more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Comments on AI Offer Insights for Consumer Finance Industry

On August 12, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) provided comments on the use of artificial intelligence (AI) in the financial services sector that are among its most extensive regarding risks and...more

Troutman Pepper

2024 Mid-Year Review: State AGs Shaping Regulatory Landscapes

Troutman Pepper on

In 2024, the landscape of state attorneys general (AGs) is poised for significant change, with numerous elections and regulatory actions reshaping priorities and enforcement strategies. This dynamic environment reflects the...more

Ballard Spahr LLP

Treasury Issues RFI on Use of AI in Financial Services

Ballard Spahr LLP on

After several years of monitoring and reporting on artificial intelligence (AI) in financial services, the U.S. Department of Treasury (Treasury) has embarked on initial rulemaking efforts and issued a request for information...more

Womble Bond Dickinson

Colorado Passes Consumer Protection Law Regulating AI

Womble Bond Dickinson on

While some states have existing laws governing certain aspects of the use of AI, on May 17, Colorado became the first state to enact comprehensive artificial intelligence (AI) legislation. Senate Bill 24-205, “Concerning...more

Thomas Fox - Compliance Evangelist

Anti-Money Laundering in the Age of AI

In a recent episode of the podcast Innovation in Compliance, I had the pleasure of speaking with Jennifer Arnold, a leading expert in anti-money laundering (AML) and the co-founder of Minerva, a cutting-edge investigation and...more

Ballard Spahr LLP

Treasury Issues Request for Information on Use of AI in Financial Services

Ballard Spahr LLP on

The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”).  Written comments are...more

Manatt, Phelps & Phillips, LLP

SEC Moves Closer to Regulating the Use of AI by Broker-Dealers and Investment Advisers

The Securities and Exchange Commission (SEC) held an open meeting of its Investment Advisory Committee on June 6, 2024, which featured a panel to review the use of artificial intelligence in investment decision making....more

Mayer Brown Free Writings + Perspectives

Frequently Asked Questions for FINRA Member Firms on AI Use in Public Communications

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...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Spring 2024

Artificial intelligence is not just about chatbots. Increasingly, it is used by government for enforcement, and boards need to prepare for that, just as they need to get ready for upcoming climate disclosure requirements....more

Akin Gump Strauss Hauer & Feld LLP

Senate AI Working Group Releases Long-Anticipated Roadmap for AI Policy

On May 15, 2024, the Senate AI Working Group—Senate Majority Leader Chuck Schumer (D-NY) and Sens. Mike Rounds (R-SD), Todd Young (R-IN), and Martin Heinrich (D-NM)—issued their long-anticipated Roadmap for Artificial...more

BakerHostetler

CFTC Sharpens Focus on Artificial Intelligence with Appointment of Chief Artificial Intelligence Officer

BakerHostetler on

In October 2023, the Biden Administration released an Executive Order on governing the development and use of AI in a safe and responsible manner, while working with federal agencies to regulate and disperse the benefits of...more

Carlton Fields

Cinch Up! AI Enforcement Starts With Washing Charges

Carlton Fields on

In March 2024, the SEC announced that it settled two cases against investment advisers Delphia (USA) Inc. and Global Predictions Inc. for making false and misleading statements about their purported use of artificial...more

Kohn, Kohn & Colapinto LLP

The Double-Edged Impact of AI Compliance Algorithms on Whistleblowing

As the implementation of Artificial Intelligence (AI) compliance and fraud detection algorithms within corporations and financial institutions continues to grow, it is crucial to consider how this technology has a twofold...more

Goodwin

The FCA’s AI Update: Integrating The UK Government’s 5 Principles

Goodwin on

In our previous alert AI and Machine Learning in UK financial services, we discussed the response in FS 2/23 of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) to its discussion paper on...more

Skadden, Arps, Slate, Meagher & Flom LLP

Insights Special Edition: Women’s History Month

Celebrating Women’s History Month, we present a special edition of our quarterly Insights publication, highlighting the talent and insights of women at Skadden. The issue spotlights their authorship on such topics as the...more

Bilzin Sumberg

SEC Issues First AI-Related Civil Penalties and Warns Against “AI Washing”

Bilzin Sumberg on

​​​​​​​The Securities and Exchange Commission on Monday, March 18, 2024, entered into settlements with Delphia (USA) and Global Predictions, which agreed to pay civil penalties totaling $225,000 and $175,000, for “AI...more

Stark & Stark

SEC Settles Charges Against Investment Advisers for Misleading AI Claims

Stark & Stark on

On March 18, 2024, the Securities and Exchange Commission announced settled charges against two SEC registered investment advisers for making false and misleading statements about their purported use of artificial...more

K&L Gates LLP

Brussels Regulatory Brief: February 2024

K&L Gates LLP on

Antitrust and Competition - The European Commission Carried Out Unannounced Inspections in the Tires Sector - On 30 January 2024, the Commission conducted dawn raids at the premises of several companies active in the tires...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Winter 2024

The oversight obligations of boards continue to expand. Recent enforcement actions and new laws in areas such as cybersecurity, artificial intelligence and supply chains create new challenges for boards, as we explain in this...more

Seyfarth Shaw LLP

Commercial Litigation Outlook - 2024

Seyfarth Shaw LLP on

By any measure, the world has changed vastly since we issued our first Commercial Litigation Outlook in 2020. We are now on our fourth installment of providing insights and flagging trends for what to expect in the coming...more

Davis Wright Tremaine LLP

CFTC Requests Comments on the Use of Artificial Intelligence

On January 24, 2024, the CFTC's newly formed AI Task Force announced the issuance of a request for comment (RFC) on the current and potential uses and risks of artificial intelligence (AI) in the derivatives markets the CFTC...more

WilmerHale

CFTC Issues Request for Comment on Uses of AI

WilmerHale on

On January 25, 2024, the Commodity Futures Trading Commission’s (CFTC) Staff issued a request for comment (RFC) on the current and potential uses and risks of artificial intelligence (AI) in the markets that the CFTC...more

102 Results
 / 
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide