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Machine Learning Enforcement Actions Financial Services Industry

Troutman Pepper Locke

2025 Mid-Year Review: State AGs in a New Era

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The United States is navigating a new era of regulatory oversight and the balance of power between federal and state regulators following the 2024 election cycle. As federal agencies retreat from and/or realign their...more

Ballard Spahr LLP

Massachusetts AG reaches settlement with student loan company, Earnest Operations LLC

Ballard Spahr LLP on

Massachusetts Attorney General Andrea Joy Campbell has reached a $2.5 million settlement with Earnest Operations LLC, a Delaware-based student loan company....more

Orrick, Herrington & Sutcliffe LLP

CFTC Commissioner discusses AI in financial services

On July 8, CFTC Commissioner Kristin Johnson remarked on the rapid integration of AI and machine learning technologies specific to the financial sector. To deter bad actors, the Commissioner noted how using AI to commit fraud...more

Porter Hedges LLP

SEC Shifts Focus to “Rooting Out” AI Abuse

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The Securities and Exchange Commission (SEC) has recently focused on “rooting out” the misuse of artificial intelligence (AI) by publicly traded companies and brokerage firms. On February 20, 2025, the SEC established the...more

Moore & Van Allen PLLC

The Desk: January Issue

So, we’ll start off with our familiar and cherished Enforcement Roundup, touch on emergency funding for the CFTC’s Whistleblower Program, talk about the CFTC’s advisory on artificial intelligence, get you ready for updates to...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

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

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