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…
In the era of information, data is an indispensable element of not only any organization but more crucially, their compliance function. The importance of this data’s integrity, accessibility, and security can hardly be overstated for a business to operate effectively and to ensure proper compliance. However, as digital landscapes continue to evolve and grow in…
On July 13, NextGen Healthcare Inc., a renowned electronic health record (EHR) software vendor, settled its issues with the Department of Justice (DOJ), and the Office of Inspector General of the Department of Health and Human Services (HHS) in quite a remarkable manner. The agreement, covering the resolve of alleged False Claims Act and Anti-Kickback…
While legal professionals worldwide continue with the adjustment to the ‘new normal’, the necessity of embracing technology for efficient legal practice has been underlined. This was a key takeaway from The Master’s Conference held recently in London. The conference shone a spotlight on an array of significant topics including eDiscovery/eDisclosure, Information Governance, and collaboration among…
Am Law 200 firms have imposed a ban on their legal personnel using ChatGPT and other forms of generative AI to undertake client-related tasks, with concerns centered on potential data breaches and “hallucinations”. The decision, however, does not signify a withdrawal from the use of AI within law practices, due to its unmatched capacity for…
In its latest strategic move, cloud-based trademark docketing software company Alt Legal has stepped up its game with its fourth acquisition. The company has acquired customers and the docketing business of its competitor, TM Cloud. This acquisition enables Alt Legal to expand its customer base across the United States and globally, including regions such as…
In a decision bound to affect a significant number of global enterprises and law firms working with cryptocurrencies, The Internal Revenue Service (IRS) has clarified that stakers should include the value of any rewards earned from staking in their gross income. This ruling was released in Revenue Ruling 2023-14 on July 31, 2023. Specifically, it…
In the era of ‘big data,’ one of the greatest challenges that face streamlined merger clearance proceedings is the voluminous electronic documents generated by contemporary businesses. But thankfully, solutions are within reach thanks to the power of technology. Sophisticated AI and data analytics tools exist which can help draw insights crucial to satisfying disclosure obligations…
As Artificial Intelligence (AI) continues to transform the landscape of businesses worldwide, it has become a fundamental component of many recent commercial transactions, including industry acquisitions, business assets or licenses. This trend is set to extend even further as the interest in AI technology intensifies. For organisations integrating AI into their available services, there are…
In an era defined by rapid advances in technology, the legal landscape of corporations and law firms is shifting as digitisation permeates every facet of operation. The role of artificial intelligence (AI) in legal proceedings, in particular, is restructuring the traditional ways law firms work and how corporate legal teams navigate proceedings. One significant change…
Global investment firm KKR has made a significant move in the Indian market by acquiring a majority stake in LEAP India, a pallet pooling platform, for a reported figure above $350 million. The legal matters in this transaction are being overseen by Simpson Thacher & Bartlett and AZB & Partners on behalf of KKR, while…
Singapore-based law firm Rajah & Tann’s innovation subsidiary, Rajah & Tann Technologies, is harnessing technology to aid enterprises in navigating anti-money laundering (AML) regulations. Collaborating with Singapore-based property technology company Showsuite, they have launched a tech-driven solution specifically designed to assist property developers in Singapore in complying with recently introduced AML regulations. (source) These new…
Law firms explore generative AI for e-discovery efficiency but remain cautious due to ethical concerns and limitations. Find out how a balanced approach can maximize potential benefits.