Daily Archives: February 21, 2024, 5:17 pm

Deputy Attorney General Lisa Monaco Announces DOJ’s Approach to AI | Morrison Foerster

On February 14, 2024, Deputy Attorney General Lisa Monaco announced two important developments related to the advent of artificial intelligence (AI) as it relates to the work of the U.S. Department of Justice (DOJ). First, Monaco announced that federal prosecutors now will seek longer sentences for defendants convicted of crimes involving the use of AI. Second, DOJ will be conducting an internal…

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Ladan Stewart joins White & Case as a partner in New York | White & Case LLP

Global law firm White & Case LLP has expanded its White Collar Practice with the addition of Ladan Stewart as a partner in New York. “As a seasoned US Securities and Exchange Commission enforcement attorney and civil litigator with 20 years of experience, Ladan brings valuable expertise as we continue to strategically enhance our white collar, investigations, securities and financial…

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‘Audits matter.’ AmTrust shareholders get US SEC backing in bid for appellate redo on BDO claim | Reuters

The U.S. Securities and Exchange Commission told an appeals court last week that investors place significant faith in auditors’ certifications of corporate financials, calling on the court to reconsider the dismissal of securities fraud claims against auditor BDO USA by shareholders of the insurer AmTrust Financial Services. The SEC laid out its views in an amicus brief that was requested…

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FINRA’s Disciplinary Hearings Disappearing Act | Carleton Law

FINRA’s Office of Hearing Officers (“OHO”) is currently staffed by a Chief Hearing Officer, Deputy Chief Hearing Officer, and six additional Hearing Officers, along with a group of Case Managers.  The current hearing officers are, based on all appearances and my own experiences, highly qualified attorneys who are ready and willing to do their jobs. Unfortunately, it is apparent that…

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India regulator finds $240 million diverted out of Zee’s books, sources say | Reuters

India’s market regulator has made a preliminary finding that 20 billion rupees ($240 million) has been diverted out of Zee Entertainment Enterprises’ books, and Zee Group founders have been called in for questioning, two sources with direct knowledge of the matter said. The amount was 10 times higher than investigators had initially estimated, said one of the sources. Zee’s shares…

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Shadow Trading – Bloomberg

I mean, on the one hand, that’s true, but on the other hand, imagine if the court said “nah that just isn’t insider trading”? (I don’t think that’s likely, since the judge has declined to dismiss the case. The SEC might still lose at trial, but if it does, that will probably be an inscrutable jury verdict that doesn’t really…

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7 Ways Companies’ Cyber-Related Governance Disclosures Will Evolve Post-SEC Rule Change

The increased frequency and severity of cyberattacks has resulted in increased pressure on companies at a global level to prepare for, mitigate against, and disclose the impacts of these attacks. This pressure may be most clearly illustrated by the SEC’s recently adopted rules around incident disclosure. Beyond the SEC, investors have also recognized the increased importance of portfolio companies successfully…

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