Securities

SEC Seeks to Address Predictive Data Analytics Conflicts in Broker-Dealer and Investment Adviser Regulations

Pieter Gunst03 mins

The U.S. Securities and Exchange Commission (SEC) recently proposed new rules and amendments that may have significant impacts on broker-dealers and investment advisers. The initiative is aimed at addressing potential conflicts of interest that arise from these professionals’ use of predictive data analytics, among other related technologies, in their interactions with investors. From a briefing…

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New SEC Rule on Cybersecurity Intensifies Reporting Obligations for Public Companies

Pieter Gunst03 mins

In a marked move, the U.S. Securities and Exchange Commission (SEC) adopted a noteworthy new rule last week, a move that notably increased reporting obligations for public companies. The adopted Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure Rule (the “Rule”) demands, among various other things, the reporting of “cybersecurity incidents” within merely four business…

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SEC Adopts New Rules for Cybersecurity Disclosures: Shifting Focus to Transparency in Corporate America

Pieter Gunst03 mins

On July 26, 2023, an open meeting held by the Securities and Exchange Commission (SEC) resulted in the adoption of final rules that aim to enhance and standardize cybersecurity disclosures by public companies. This development indicates a significant shift in regulatory focus towards improving transparency in the cybersecurity realm. According to a report by legal…

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SEC’s New Material Cybersecurity Incident Rule Impacts Public Companies and Law Firms

Pieter Gunst03 mins

The U.S. Securities and Exchange Commission (SEC) has implemented a significant new policy regarding cybersecurity disclosure requirements, according to a recent report. As of July 26, 2023, all public companies that fall under the reporting obligations and handle data collection or processing are subject to the rule. This rule, named the Cybersecurity Risk Management, Strategy,…

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SEC Adopts Standardized Cybersecurity Disclosures for Public Companies: Legal Implications and Consequences

Pieter Gunst03 mins

On July 26, 2023, the Securities and Exchange Commission (SEC) significantly shifted the landscape of cybersecurity accountability for public companies. The SEC convened an open meeting where it was decided to adopt final rules requiring the standardization of cybersecurity disclosures by public companies (JD Supra). These new rules mark a strict departure from the previous…

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SEC Proposes Regulation on AI and Predictive Analytics in Finance: Balancing Innovation and Compliance

Pieter Gunst02 mins

On July 26, 2023, the U.S. Security and Exchange Commission (SEC) proposed a new set of rules affecting registered investment advisers and broker-dealers. As discussed in this JD Supra article, the proposed rules aim to handle certain conflicts of interest concerning the use of predictive analytics, artificial intelligence (AI), and other relevant technologies in dealings…

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Enduring Effects of California Securities Claims: A Study in Transparency and Accountability

Pieter Gunst03 mins

California’s laws surrounding securities claims are stringent, representing a robust infrastructure designed to serve as a robust system for financial regulation. Even after death, said claims may still hold relevant. As Part 5 of the Corporation Securities Law of 1968 establishes, certain violations and their subsequent remedies are clearly prescribed. Corporations Code Section 25401 elucidates…

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