- Increasing Focus on AI — AI developments and uses and the evolving legal and regulatory landscape may bring about new litigation and enforcement risks stemming from claims of algorithmic bias,
![cybersecurity[1]](https://www.gtlaw-financialservicesobserver.com/files/2022/02/cybersecurity1.jpg)
SEC Files Actions Against 4 Public Companies for Negligent Cybersecurity Disclosures
On Oct. 22, 2024, the SEC announced settled administrative actions against four current or formerly public technology companies, finding that the companies all made materially misleading disclosures to investors in
Continue Reading SEC Files Actions Against 4 Public Companies for Negligent Cybersecurity Disclosures
CTA Countdown: Upcoming FinCEN Filing Deadlines
The Corporate Transparency Act (CTA) has been in effect since Jan. 1, 2024, requiring non-exempt U.S. entities and non-exempt foreign entities that are registered to do business in the United
Continue Reading CTA Countdown: Upcoming FinCEN Filing Deadlines
Reg BI Enforcement Intensifies: SEC Fines Western International Securities for Violating Care and Compliance Obligations
On July 30, 2024, the SEC announced it had reached a settlement agreement with Western, a dually registered investment adviser and broker-dealer providing investment advice and brokerage services to retail
Continue Reading Reg BI Enforcement Intensifies: SEC Fines Western International Securities for Violating Care and Compliance Obligations
FTC Targets Adobe for Hidden Fees and Deceptive Subscription Practices
On June 17, 2024, the FTC filed a federal court complaint against Adobe and two of its executives. The complaint alleges that Adobe deceived consumers by failing to adequately disclose
Continue Reading FTC Targets Adobe for Hidden Fees and Deceptive Subscription Practices
U.S. Appeals Court Vacates SEC Private Fund Adviser Rule
On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit unanimously vacated a rule the Securities and Exchange Commission (SEC) enacted in August 2023 that was intended to protect investors who invest in certain private funds and prevent fraud by the investment advisers to Private Funds.
Continue Reading U.S. Appeals Court Vacates SEC Private Fund Adviser Rule
District Court Declares Corporate Transparency Act Unconstitutional
On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama found the Corporate Transparency Act (CTA or Act) unconstitutional on the
Continue Reading District Court Declares Corporate Transparency Act Unconstitutional
SEC Division of Examinations 2024 Priorities
The Securities and Exchange Commission (SEC)’s Division of Examinations (Division) announced its 2024 examination priorities (Exam Priorities) in October. In 10 years of priority announcements, this is by far the
Continue Reading SEC Division of Examinations 2024 Priorities
Assessment of the SEC’s Progress on Its 2023 Rulemaking Agenda
The Securities and Exchange Commission (SEC)’s Spring 2023 Unified Agenda of Regulatory and Deregulatory Actions (the Agenda) forecast a busy fall for the regulator, with many of the 55 final
Continue Reading Assessment of the SEC’s Progress on Its 2023 Rulemaking Agenda
SEC Finalizes Cyber Rules for Public Companies: What You Need to Know
On July 26, 2023, the Securities and Exchange Commission (SEC) adopted the long-awaited final rule requiring that public companies disclose information about cybersecurity incidents within four business days of determining
Continue Reading SEC Finalizes Cyber Rules for Public Companies: What You Need to Know