Andrew J. Ceresney – Debevoise Data Blog

Artificial Intelligence

Top 10 SEC Cyber/AI Blog Posts for 2024

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Luke Dembosky, Avi Gesser, Eric T. Juergens, Arian June, Robert B. Kaplan, Erez Liebermann, Sheena Paul, Benjamin R. Pedersen, Marc Ponchione, Jeff Robins, Paul Rodel, Julie M. Riewe, Kristin Snyder, Jonathan R. Tuttle, Phil Fortino, Matt Kelly, Anna Moody, Stephan J. Schlegelmilch, Johanna Skrzypczyk, Suchita Mandavilli Brundage, Kelly Donoghue, Andreas A. Glimenakis, Alice Gu, John Jacob, Gabriel Kohan, Talia Lorch, Ciera Mandelsberg, Noah L. Schwartz, Ned Terrace and Mengyi Xu December 12, 2024

As we approach the end of the year, here are the Top 10 SEC Cyber/AI posts on the Debevoise Data Blog in 2024 by page views. If you are not…

Enforcement

SEC Charges Four Companies for Misleading Cyber Disclosures

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Luke Dembosky, Erez Liebermann, Benjamin R. Pedersen, Julie M. Riewe, Matt Kelly, Anna Moody, Kelly Donoghue, Ciera Mandelsberg and Noah L. Schwartz October 28, 2024

On October 22, 2024, the U.S. Securities and Exchange Commission (the “SEC”) announced settled charges in separate actions against four technology companies—Avaya Holdings Corp. (“Avaya”), Check Point Software Technologies Ltd.…

Cybersecurity

Internal Accounting Controls Claim Rejected in SolarWinds Case

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Luke Dembosky, Erez Liebermann, Benjamin R. Pedersen, Julie M. Riewe, Paul Rodel, Matt Kelly, Anna Moody, Alice Gu and Talia Lorch July 23, 2024

On July 18, 2024, in the landmark SEC v. SolarWinds Corp. case, U.S. District Judge Paul Engelmayer dismissed the majority of the claims brought by the U.S. Securities and Exchange Commission (the…

Cybersecurity

Incident Response Plans Are Now Accounting Controls? SEC Brings First-Ever Settled Cybersecurity Internal Controls Charges

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Luke Dembosky, Avi Gesser, Erez Liebermann, Benjamin R. Pedersen, Julie M. Riewe, Matt Kelly, Anna Moody and Andreas A. Glimenakis June 20, 2024

In an unprecedented settlement, on June 18, 2024, the U.S. Securities & Exchange Commission (the “SEC”) announced that communications and marketing provider R.R. Donnelley & Sons Co. (“RRD”) agreed to…

Artificial Intelligence

SEC Targets AI Washing in Private Capital Markets: “Old School Fraud Using New School Buzzwords”

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Avi Gesser, Julie M. Riewe, Kristin Snyder, Matt Kelly and Suchita Mandavilli Brundage June 14, 2024

On June 11, 2024, the U.S. Securities and Exchange Commission (“SEC”) filed its third matter this year involving “AI washing”—namely, alleged misstatements or omissions by securities market participants about the…

Artificial Intelligence

AI Enforcement Starts with Washing: The SEC Charges its First AI Fraud Cases

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Avi Gesser, Arian June, Robert B. Kaplan, Julie M. Riewe, Jeff Robins, Kristin Snyder, Jonathan R. Tuttle, James Amler, Phil Fortino, Matt Kelly, Anna Moody, Stephan J. Schlegelmilch, Gabriel Kohan and Corey Goldstein March 19, 2024

On March 18, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced settled charges against two investment advisers, Delphia (USA) Inc. (“Delphia”) and Global Predictions Inc. (“Global Predictions”) for making…

Artificial Intelligence

DOJ Announces Initiative to Combat AI-Assisted Crime

By: Helen V. Cantwell, Andrew J. Ceresney, Avi Gesser, Andrew M. Levine, David A. O'Neil, Winston M. Paes, Jane Shvets, Bruce Yannett and Douglas Zolkind February 16, 2024

On February 14, 2024, Deputy Attorney General Lisa O. Monaco announced an initiative within the U.S. Department of Justice to ramp up the detection and prosecution of crimes perpetrated through…

SEC

Hackers Turned Whistleblowers: SEC Cybersecurity Rules Weaponized Over Ransom Threat

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Luke Dembosky, Avi Gesser, Matthew Kaplan, Erez Liebermann, Benjamin R. Pedersen, Steven J. Slutzky, Jonathan R. Tuttle, Matt Kelly and Kelly Donoghue November 20, 2023

On November 7, 2023, the profilic ransomware group AlphV (a/k/a “BlackCat”) reportedly breached software company MeridianLink’s information systems, exfiltrated data and demanded payment in exchange for not publicly releasing the…

Artificial Intelligence

SEC Proposes Rule to Eliminate or Neutralize Conflicts of Interest in the Use of “Predictive Data Analytics” Technologies

By: Andrew J. Ceresney, Charu A. Chandrasekhar, Avi Gesser, Robert B. Kaplan, Marc Ponchione, Julie M. Riewe, Jeff Robins, Kristin Snyder, Matt Kelly, Gary Murphy, Sheena Paul, Jarrett Lewis, Catherine Morrison and Mengyi Xu August 14, 2023

On July 26, 2023, the U.S. Securities and Exchange Commission (“SEC”) issued proposed rules (the “Proposed Rules”) that would require broker-dealers and investment advisers (collectively, “firms”) to evaluate their use…