The government announced plans over the weekend to spend billions of dollars to support artificial intelligence. Billed as “securing Canada’s AI Advantage”, the plan includes promises to spend $2 billion on an AI Compute Access Fund and a Canadian AI Sovereign Compute Strategy that is focused on developing domestic computing infrastructure. In addition, there
Law School Blogs
Why Criminal Recordkeeping Laws Are Justified, Including in the Case Against Trump
In March 2023, Donald Trump became the first former U.S. president to be charged with a crime. And barring any last-minute delays, next week he will become the first former U.S. president to stand trial as a criminal defendant. Trump’s indictment followed well-publicized investigations into whether he attempted to subvert the 2020 presidential election in…
Ropes & Gray Discusses Executive Order Limiting Data Transfers to China and Other Nations
On February 28, 2024, President Biden announced an Executive Order (“EO”) directing the Department of Justice (“DOJ”) to promulgate regulations that restrict or prohibit transactions involving certain bulk sensitive personal data or United States Government-related data and countries of concern or covered persons. The DOJ’s initially identified countries are China (including Hong Kong and Macau),…
We Need to Move Beyond Profit Maximization to Plural Business Purposes
For many business economists and legal academics, the purpose of any business organization is simply stated: to maximize profits. And it is true that many practical advantages may follow from this statement of purpose. Focusing only on profit-making allows leaders of firms to discount all other moral, social, or environmental claims on a business as…
Are Financial Firms Ready for Climate Regulation?
Regulators globally are requiring companies to disclose their greenhouse gas (GHG) emissions. For companies in some industries, Scope 1 and 2 emissions – covering, respectively, emissions from direct fuel use and from acquired energy – will cover most relevant emissions caused by their activities, and these are relatively simple to calculate and disclose.
For most…
Can Antitrust Promote Sustainability and Reduce Inequality?
How can antitrust best serve social goals? For the many who argue that market power yields greater wealth inequality, vigorous antitrust enforcement is necessary to close the gap. Yet equality is not a consideration for current antitrust policy, which is concerned almost exclusively with consumer welfare (understood as a synonym for economic efficiency). In…
Cleary Gottlieb Discusses How Merger Safe Harbor for Sherman Act Violations Punishes Innocent Acquirers
In March 2024, the U.S. Department of Justice (“DOJ”) revised its Justice Manual to include a new safe harbor for acquiring companies that self-report criminal conduct by an acquired company identified in due diligence (the “Safe Harbor”). When the Safe Harbor applies, it provides a presumption that the DOJ will decline to criminally prosecute an…
The Class Certification of Exchange-Listed Options in Securities Class-Action Litigation
Class-action litigation for fraud on the market typically focuses on purchasers and sellers of stock. Yet those that traded in options on the shares can also be harmed. In a recent paper, we draw from experience in In re Apple, Inc. Securities Litigation (N.D. Cal. 2022) to describe the issues related to including options in…
Commissioner Peirce Blasts SEC for Lack of Public Engagement
Let me start by reminding you that my views are my own as a Commissioner and not necessarily those of the Securities and Exchange Commission (“SEC”) or my fellow Commissioners. It is good to be back at SEC Speaks and to know that the content shared here today is available for anyone who may wish…
Enforcement Chief Speaks on the “Why” of SEC’s Work
Whether you’re here in person or participating virtually from around the country, or even overseas, I thank you for joining us.
As is customary, my remarks this morning are in my official capacity as Director of the Securities and Exchange Commission’s Division of Enforcement, and do not necessarily reflect the views of the Commission, the…