On May 5, 2023, New York Attorney General (AG) Letitia James introduced legislation to regulate businesses engaged in digital asset-related activities “from or within the State of New York.” Titled the “Crypto Regulation, Protection, Transparency, and Oversight Act” (the CRPTO Act or the Act), AG James has called the proposal “the strongest and most comprehensive set of regulations on cryptocurrency in the nation.”Continue Reading Capital Markets, Professional Perspective – Proposed NY Digital Asset Framework Imposes Consumer Protection-Focused Measures
Michael is a partner in the firm’s State Attorneys General and Regulatory Investigations, Strategy + Enforcement (RISE) Practice Groups, nationwide teams that advise clients on consumer protection enforcement matters and other regulatory issues. Based in the firm’s Orange County office, Michael represents high-profile clients in regulatory enforcement investigations involving all facets of their business, including but not limited to, advertising and sales practices, monthly membership programs, auto renewal programs, telemarketing and telephone solicitations, door-to-door sales practices, and endorsements. Having begun his career as a commercial litigator, he also supports clients throughout litigation, should an investigation move in that direction.
The rapid advancement of generative artificial intelligence (AI) raises important competition concerns, prompting the Federal Trade Commission (FTC) to analyze potential risks and propose solutions. In its recent June 29 blog post, the FTC highlighted the need for proactive measures to address competition issues in the evolving generative AI industry. This article analyzes the FTC’s blog post, summarizing its key points and offering insights into the potential implications for stakeholders.Continue Reading Addressing Competition Concerns in the Developing Generative AI Industry: Key Insights From FTC Analysis
In this episode of the Regulatory Oversight Podcast, Judge VanDyke joins Troutman Pepper RISE attorneys Ketan Bhirud, Mike Yaghi, and Stephen Piepgrass for an informative discussion on his background and path to becoming a judge, including his time working in several state attorneys general offices.Continue Reading A Conversation With Judge Lawrence VanDyke of the US Court of Appeals for the Ninth Circuit
Financial services companies are using AI to assist with many business processes, including underwriting decisions, consumer credit approval, servicing and collections, loss mitigation programs, customer interaction on websites and mobile apps via chatbots, and in detecting fraud. In this fourth episode, Stephen Piepgrass and colleagues Chris Willis and Michael Yaghi examine the use and impact of AI in the financial services industry. They discuss the potential risks financial services companies may face with increased reliance on AI, as well as the increased focus on AI by various regulators and state attorneys general.Continue Reading AI: Impact and Use in the Financial Services Industry (Part Four)
AI continues to capture the headlines. One recent headline noted that ChatGPT passed the medical boards. In this third episode, Stephen Piepgrass and colleagues Michael Yaghi and Barry Boise discuss the potential risks health care companies may face with increased reliance on AI, as well as the increased focus on AI by various regulators and state attorneys general, particularly in the health care space.Continue Reading AI: Impact and Use in the Health Care Industry (Part Three)
State authorities increasingly embrace role as consumer watchdogs
A version of this post was published in Corporate Compliance Insights on April 5, 2023. © Copyright 2023, Corporate Compliance Insights. Reprinted here with permission.
State attorneys general are increasingly taking offensive positions, bringing lawsuits against companies and executives they accuse of bad conduct. A team of attorneys from Troutman Pepper, led by Clayton Friedman and Trey Smith, explore recent cases and how executives can strengthen the corporate veil.Continue Reading It’s Not Just the Feds: State AGs Are Reaching Through Your Corporation
Join us for the first in a series of episodes covering artificial intelligence (AI). As technology continues to develop, more companies are using AI in their day-to-day business, and with increased use comes increased risk. In this episode, Stephen Piepgrass and colleagues Michael Yaghi and Trey Smith provide an overview of AI, including uses and risks, and the increased focus on AI by various regulators, including state attorneys general, federal agencies, and local governments.Continue Reading AI: Overview and Current Regulatory Landscape (Part One)
On January 30, the U.S. Department of Defense (DOD) issued an interim procurement rule, prohibiting the procurement of personal protective equipment (PPE) from four “non-allied” countries: China, North Korea, Russia, and Iran.Continue Reading New DOD Rule Limits PPE From China and Other Foreign Nations
The Department of Defense (DOD) wants to make it easier for companies with innovative solutions, such as startups, to bid on and receive federal government contracts. As such, DOD recently proposed a Defense Federal Acquisition Regulations (DFARS) amendment to implement provisions of the 2022 and 2023 National Defense Authorization Acts, which provide DOD with the authority to acquire “innovative commercial products and commercial services” under general solicitations using a new, more streamlined competitive selection process called a “commercial solution opening” (CSO). The amendment will add a new subpart to DFARs Part 212 at 212.7X. DOD expects the proposed process to reduce transaction costs for both private and public sectors, which it hopes will encourage smaller companies with innovative ideas and proven solutions to take part in the federal government contracting marketplace.Continue Reading New DOD Contracting Process Aims to Attract Innovative Startups
U.S.-based international trade group Cashmere and Camel Hair Manufacturers Institute (CCMI) recently filed a lawsuit against global online marketplace Etsy, Inc. in U.S. District Court for the District of Massachusetts for allegedly advertising and marketing third-party counterfeit cashmere products through its platform. CCMI claimed Etsy violated the Lanham Act; Massachusetts’ false advertising law; common law prohibitions on unfair competition; and Massachusetts’ Anti-Dilution Statute. CCMI also brought a novel civil claim that Etsy conspired with the fake cashmere suppliers.Continue Reading Etsy Targeted Over Sale of Counterfeit Products