- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-06-03T08:58:00
The Department of Justice’s (DOJ) Antitrust Division is examining how its policies and enforcement mechanisms are suited to handle potential issues brought about by the proliferation of use of artificial intelligence (AI).
Jonathan Kanter, head of the Antitrust Division, delivered remarks at an AI workshop at Stanford on Thursday, during which he said the agency was “actively examining the AI ecosystem both through our policy work … and through our enforcement of the Sherman Act and Clayton Act.”
“If firms in the AI ecosystem violate the antitrust laws, the Antitrust Division will have something to say about it,” he said.
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The Department of Justice’s Antitrust Division created a new task force to examine collusion and monopolies in the healthcare industry.
Prudent chief compliance officers should ensure artificial intelligence-related risks are being properly addressed at their businesses considering growing scrutiny being paid to the technology by the Department of Justice.
The Department of Justice is working on an update to its Evaluation of Corporate Compliance Programs guidance to spell out the responsibilities of compliance staff for managing artificial intelligence-related risks.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
