Posts by associatemanagingeditor
A Win for the SEC: Terraform Cryptocurrencies are Securities
By: Julie Chung The rise in cryptocurrency usage and sales confused the traditional securities and financial space. The Securities and Exchange Commission (“SEC”) typically exercised regulatory oversight to protect investors in the capital markets.[1]Cryptocurrencies have notably dodged financial regulators like the SEC with virtual currencies and sophisticated payment systems structured to avoid financial regulation.[2] Cryptocurrencies…
Read MoreAvoiding Discrimination in AI-driven Credit Models: Compliance with Adverse Action Notification Requirements
By: Elizabeth Sloop From spam filters and online shopping[1] to ChatGPT[2], artificial intelligence (“AI”) is an everyday conversation topic. Likewise, financial institutions have incorporated AI into their daily operations.[3] For example, lenders use AI-driven tools to automate decisions in unsecured personal loan and credit card underwriting.[4] Increased efficiency, faster decision-making, and other benefits have made…
Read MoreMoving Fast and Breaking the Video Privacy Protection Act
By: Caitlyn Lindstrom Patreon, a video content subscription platform,[1] challenged the constitutionality of the Video Privacy Protection Act (“VPPA”),[2] which allows consumers to “maintain control over personal information” while generating and accessing video content on providers’ platforms.[3] The VPPA was born out of concern for consumer privacy regarding media consumption.[4] Following the publishing of then-U.S.…
Read MoreCourtroom Showdown: Potential Game Changer for Securities Fraud Claims and Disclosure Practices – the Moab v. Macquarie case
By: Cassy Sulzer On September 29, 2023, the U.S. Supreme Court granted certiorari to hear the Securities and Exchange Commission (“SEC”) disclosure liability case of Moab Partners, L.P. v. Macquarie Infrastructure Corp.[1] The Supreme Court will consider whether a failure to make a disclosure required under Item 303 of Regulations S-K of the Securities Act…
Read MoreTexas’s Online-Age Check and What It Could Mean for Businesses
By: Sophie Ossip On August 31, 2023, U.S. District Judge David Ezra declared a Texas online-age requirement bill unconstitutional in Free Speech Coalition, Inc. v. Colmenero.[1] The Texas Attorney General’s Office appealed to the Fifth Circuit and a three-judge panel took up the case on October 4, 2023.[2] The bill required businesses that host adult…
Read MoreThe Monopoly Man Runs Free: How the Financial Industry Could Lose One of Its Biggest Regulators
By: Rafael Andino The Supreme Court recently heard arguments that could threaten the existence of the Consumer Financial Protection Bureau (“CFPB”), one of Congress’ responses to the 2008 financial global crisis.[1] This case not only threatens the regulatory landscape of the financial industry, but also affects other federal agencies who receive funding in a…
Read MoreSlow Times for Solar in the Golden State: California Court of Appeal Will Hear Challenge to the State’s Slash in Subsidies
By: Gustav Gulmert The California Public Utility Commission (“CPUC”) previously incentivized Californians to use rooftop solar panels by financially crediting users at a market rate for the excess power their panels sent back onto California’s electricity grid.[1] Under the Million Solar Roofs Initiative of 2006, California’s solar credit system, called “net-metering,” quintupled in participants and…
Read MoreThe AI Language Processor Strikes Out: ChatGPT Swings at Defamation
By: John Baek United States statute defines defamation as false statements that harm a person’s reputation.[1] In Australia, defamation can occur by any form of third-party publication.[2] ChatGPT is now one such third party, as it generates responses to user prompts.[3] Now, a mayor in Australia may bring the first defamation claim against OpenAI and…
Read MoreTo Be or Not to Be a Security: What Friel v. Dapper Labs Means for NFTs
By: Tanner Sandor On Wednesday, February 22, 2023, a potentially major development occurred in the Decentralized Finance (“DeFi”) space. The U.S. District Court Judge for the Southern District of New York, the Honorable Victor Marrero, denied the defendant’s motion to dismiss the amended complaint in the case of Friel v. Dapper Labs, Inc.[1] The case…
Read Morei-Ban: Patent Dispute with Masimo May Keep Some Apple Watches out of the U.S.
By: Peter Rozewicz Masimo, a global medical technology company organized under the laws of Delaware engaged Apple, a global technology company incorporated in California, in a patent dispute involving the Apple Watch Series 6.[1] Specifically, the complaint alleges Apple violated Masimo’s patents for using light sensors to measure blood oxygen by including the technology on…
Read More