On March 15, 2023, the U.S. Securities and Exchange Commission (the “SEC”) released a suite of proposed new rules (the “Proposed Rules”) that include:| Debevoise Data Blog
Two years ago, we outlined how directors should think about oversight of AI-related risks. Since then, we have seen a steady increase in AI projects that sit squarely inside our clients’ core business functions, which raises three board oversight issues that we discuss in this Debevoise Data Blog update: (1) identifying core AI projects, (2) assigning specific management responsibility, and (3) peer benchmarking.| Debevoise Data Blog
There are dozens of cases pending against AI developers stemming from their use of copyrighted works to train generative AI models. In response, developers have uniformly asserted that such use is a fair use. To date, despite years of litigation, those cases have resulted in just one opinion: a District of Delaware order that arose outside of the generative AI context and rejected the fair use defense as a matter of law.| Debevoise Data Blog
On July 26, 2023, the SEC adopted the long-anticipated final rules on cybersecurity risk management, strategy, governance, and incident disclosure for issuers. The new rules are part of the SEC’s larger efforts focused on cybersecurity regulation with a growing universe of rules aimed at different types of SEC registrants, including: (i) its proposed cybersecurity rules for registered investment advisers and funds and market entities, including broker-dealers, (ii) its proposed amendmen...| Debevoise Data Blog