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Compliance Isn’t the Only ‘AI Washing’ Risk
Bracewell’s David Shargel shared with Legal Dive why AI washing considerations, as well as the numerous other risks associated with AI, must become part of the compliance “playbook” for any company using artificial intelligence.
ShapeShift Fine Epitomizes SEC’s Crypto Policy, and its Flaws
A recent SEC order imposing a fine on former cryptocurrency exchange ShapeShift for failing to register as a securities dealer showcases the SEC’s regulation-by-enforcement approach, but the dissent by two commissioners raises valid concerns that the agency’s embrace of ambiguity over clarity risks hampering the growth of the crypto economy, writes Bracewell’s Keith Blackman.
Beyond Whistleblowing: Additional Highlights From the Department of Justice at the 2024 ABA White Collar Conference
As we wrote earlier this month , the Department of Justice (DOJ) made significant news at the recent American Bar Association White Collar Conference. But the Department didn’t stop at announcing its pilot whistleblower incentive program — Deputy Attorney General...
FINRA Facts and Trends: March 2024
Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This month, we report on FINRA’s focus on uses...
Innodata Suit Highlights ‘AI Washing’ Liability Risk for Cos.
A class action against software company Innodata over so-called AI washing, underscores the litigation and enforcement risks that can arise from the SEC’s novel theory about misleading artificial intelligence capabilities, writes Bracewell’s David Shargel, Rachel Goldman and Patrick Morley.
The Race to Report: DOJ Announces Pilot Whistleblower Program
In recent years, the Department of Justice (DOJ) has rolled out a significant and increasing number of carrots and sticks aimed at deterring and punishing white collar crime. Speaking at the American Bar Association White Collar Conference in San Francisco...
A Line in (and Under) the Sand
Bracewell’s Will Moss and JJ McAnelly address identifying and minimizing subsurface trespass legal risk associated with subsurface carbon dioxide migration in this Texas Bar Journal article.
Lifting the Fog on the Foreign Corrupt Practices Act: Enforcement and Compliance Trends to Watch in San Francisco
As lawyers, corporate executives and federal law enforcement officials prepare to gather this week in San Francisco for the ABA’s 39th National Institute on White Collar Crime, we offer our takeaways from January’s Houston forum on the Foreign Corrupt Practice...
Time Has Come for Special Masters to Streamline Bankruptcy Cases
Bracewell’s Keith Blackman, Joshua Klein and Russell Gallaro spotlight proposed changes to federal bankruptcy procedure to allow use of special masters in complex bankruptcy cases.
ExxonMobil Strikes Back: Energy Companies Take a More Proactive Approach to Activist ESG Shareholders
ExxonMobil has filed proceedings in the US District Court for the Northern District of Texas against two shareholders, alleging that proposals seeking an increased pace for reductions in emissions amount to “intrusion” into ExxonMobil's ordinary business operations and should not...
Federal Contractors Beware: New Hiring Restrictions Proposed on Companies Doing Business With the Federal Government
Earlier this week, the Federal Acquisition Regulatory Council proposed a new rule that would amend the Federal Acquisition Regulation (FAR) to impose new restrictions on federal contractors and subcontractors, including: (1) prohibiting, seeking or considering an applicant’s compensation history; (2)...
The Questions Around Prometheum’s SEC-Compliant Strategy
Regulatory uncertainty remains a major hurdle in the way of widespread adoption of cryptocurrency. While the US Securities and Exchange Commission (SEC) has sought to apply traditional securities concepts to the crypto marketplace, the cryptocurrency industry is pushing for specific...
FINRA Facts and Trends: January 2024
Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. We dedicate this month’s issue to FINRA’s 2024 Annual...
“Export Controls Are the New Sanctions” and Other Enforcement Trends for 2024
2023 was a banner year in the sanctions space and regulators seem primed to continue that performance in 2024. In December 2023, numerous government officials and industry experts convened at the New York Forum on Economic Sanctions to discuss lessons...
Compliance Risk After SEC Warning Against ‘AI Washing’
Bracewell’s David Shargel, Rachel Goldman and Patrick Morley write about the enforcement priority coming in 2024 as a result of a breakout year for generative artificial intelligence, with businesses of every kind racing to adopt AI tools. Companies and their compliance programs must take steps now to avoid costly regulatory sanctions and shareholder lawsuits.