The SEC has begun to bring enforcement actions against companies whose employment and client agreements could appear to infringe on the right to report cases in violation of Section 21f-17(a) of the Exchange Act. On September 9, 2024, the Securities and Exchange Commission (SEC) announced that it settled charges against seven public companies for more than $3 million in combined civil penalties for including language in their employment, consulting and other agreements that potentially discourages whistleblowers from reporting issues to outside authorities.… Continue Reading
Employment
Colorado Becomes the First State to Enact Broad Restrictions on Using High-Risk Artificial Intelligence Systems to Prevent Algorithmic Discrimination
By Nalee Xiong & Brian D. Pedrow on
Posted in Artificial Intelligence, Employment
On May 17, 2024, Colorado Governor Jared Polis signed into law SB 24-205, entitled Consumer Protections for Artificial Intelligence, which will become effective on February 1, 2026. The law applies to developers and deployers of high-risk AI systems doing business in Colorado.
Under the statute, “developer” means a person doing business in Colorado that develops or intentionally and substantially modifies an AI system; and “deployer” means a person doing business in Colorado that uses a high-risk AI system. … Continue Reading