INSIDE COMPLIANCE – Page 7 – Loyola University Chicago School of Law

Regulating AI Used to Predict and Prevent Sports Injuries: A Crucial Need

February 8, 2024Artificial Intelligence, Sports

The use of Artificial Intelligence (AI) in sports could revolutionize the way athletic injuries are predicted and managed. Notably, a variety of AI companies have developed software that forecasts potential injuries, possibly prolonging athletes’ careers. This technology analyzes data about the biomechanics of players, their frequency of play or training, and past injuries to identify patterns, find potential causes, and predict future injuries. There is immense value in preventing injuries in athletics for players, teams, and fans alike. It would therefore make sense that everyone is eager to utilize the findings of AI, but without regulation this could cause more harm than good.

No “Moore” Realization Events?

February 8, 2024Uncategorized

In June 2024, the Supreme Court will decide on a case that may completely upend one third of the Internal Revenue Code (IRC). Moore v. United States calls into question whether the 16th Amendment authorizes Congress to tax unrealized gains without apportionment among the states.

U.S. Auditing Watchdog’s Inspections Program Needs Work

February 8, 2024Uncategorized

The Public Company Accounting Oversight Board (PCAOB) inspects the audits of U.S public companies, and according to former inspectors for the PCAOB the inspection process needs improvement. The SEC and the Sarbanes-Oxley Act empower the PCAOB to establish auditing standards through inspections and compliance reports. The former inspectors criticized the reports produced and call for a wider scope in the process, more details, and for the reports to be released in a timely manner. While the PCAOB is in the middle of a transformation under current PCAOB Chair Erica Williams, the transformation is largely focused on making inspections more efficient. Hopefully, the call to action by former inspectors will result in improved reports by inspectors. For investors, having more context on how the inspection went and being able to review how the PCAOB measures audit quality would allow them to make more informed decisions.

Global Tech Regulation: The Impact of the E.U.’s Digital Markets Act on Big Tech Giants and the Potential Shift in U.S. Policies

February 7, 2024Uncategorized

Big tech companies in the United States are largely subject to fewer and less restrictive regulations than those found in other parts of the world. The E.U., however, is rapidly becoming one of the most “assertive regulators” of big tech, which consequently affects American companies that participate in the global market, such as Amazon, Apple, and Google. In response to the growing need for stricter antitrust and data privacy laws, the E.U. adopted the Digital Markets Act (“DMA”) in September of 2022. The DMA’s obligations are set to be fully applicable in March of 2024.

Harmony or Havoc: Balancing Tailpipe Emission Reductions and the Unseen Risks of Electric Vehicles

February 7, 2024Environmental

The effects of climate change and environmental degradation are more apparent than ever, with experts predicting that 2024 will possibly be the hottest year on record. Although significant progress remains to be seen, meaningful efforts like the passage of the Inflation Reduction Act in 2022 cannot be understated. Still, much more is necessary if the world plans to stay within the 1.5°C threshold, which experts predict will be surpassed by the 2030s. Recognizing the need for urgent, dramatic action, the Environmental Protection Agency (EPA) proposed new standards that would impose dramatic emissions limits on new vehicles produced beginning in 2027. The rule includes a “phase-in” period, allowing some flexibility for vehicle manufacturers to comply with the proposed standards, giving them five years to make the necessary adjustments. This ambitious plan aligns with President Biden’s Executive Order 14037, which sets forth the Administration’s priorities in promoting zero-emissions vehicles. The EPA specifically emphasized the Executive Order’s goal of having “50 percent of U.S. new vehicle sales to be zero-emission vehicles by 2030.” Given that passenger vehicles make up an estimated 17% of total U.S. greenhouse gas emissions, with transportation being the “single largest source of greenhouse gas emissions in the United States,” the goal is admirable. However, achieving this transition to electric vehicles raises deep concerns related to deep seabed mining, the process of extracting critical minerals for batteries from the ocean floor.

No Post Hoc Justification for Submitting False Claims

December 14, 2023Fraud & Abuse

On June 1, 2023, in a unanimous opinion, the United States Supreme Court ruled in United States et al. ex rel. Schutte et al. v. Supervalu Inc. et al. and United States et al. ex rel. Proctor v. Safe-way, Inc. that the scienter element of the False Claims Act (FCA) refers to a defendant’s knowledge and subjective beliefs. Supervalu and Safeway knew they were charging government health insurance programs more for prescription drugs than what they usually and customarily charging regular customers, in violation of the FCA.

Journal of Regulatory Compliance

Growing Pains are on the Rise for the Expanding Landscape of IoT

November 5, 2023Uncategorized

Connectivity has become our way of life. For Apple users, iPhones, MacBooks, iPads, and Apple Watches are interconnected with one touch. For Android enthusiasts, Samsung has developed the ‘SmartThings’ app, enabling users to seamlessly control Smart TVs, monitors, and refrigerators from one device. With the proliferation of ‘Smart Home’ technology, products are being integrated into our everyday lives like no other. Whether it be Google Home products like Google Nest thermostats or the Ring Home Security System – we are able to save energy and protect our most valuable possessions from any device no matter its operating system. Nevertheless, from a B2B standpoint, IoT provides businesses the opportunity understand predictive maintenance of their devices, optimize supply chains, and develop stronger customer relationships.

Therefore, the evidence is clear from industry-to-industry: the benefits of IoT are abundant. But what exactly does IoT entail, and what compliance guidelines are in place to protect consumer use? As the landscape expands and new products enter the market, organizations are tasked with developing innovative compliance solutions for an equally contemporary technology platform.

compliance trendsinternet of thingsIoT

Regulatory Implications of the FTC’s Proposed Ban on Noncompete Clauses

November 4, 2023Uncategorized

The landscape of post-termination benefits and rights for employees is continuously evolving. In recent developments, the Federal Trade Commission (FTC) has proposed a rule that could significantly change the dynamics of the job market by seeking to ban noncompete clauses. This proposal impacts businesses and employees and intersects with other regulatory frameworks, calling for an integrated perspective on its implications.

Journal of Regulatory Compliance

AI Copyright Conundrum: An Evolving Legal Landscape

November 3, 2023Artificial Intelligence, Intellectual Property

The objective of copyright law is to protect certain rights of a human author. But what happens when a nonhuman author creates something that is original, fixed, and has a minimal degree of creativity? Well, in the wild case of Naruto v. Slater, animals cannot have copyright protection in a “Monkey selfie.” As the technological world advances, the latest dispute that has everyone going bananas is AI and copyright protection. The Copyright Office will not register works “produced by a machine or mere mechanical process” such that there is no creative input from a human author because this kind of protection goes against the objective of copyright law.

AIcopyrightintellectual property

Playing Hardball: MLB’s Antitrust Immunity Goes into Extra Innings

November 2, 2023Antitrust

Major League Baseball’s (MLB) century-long immunity from antitrust law may soon come to an end depending on the Supreme Court’s ruling in the pending Tri-City ValleyCats, Inc. v. Office of the Commissioner of Baseball. The petitioners, a pair of minor league baseball teams, are seeking to overrule years of precedent that allow the league to function as both a monopsonist (only buyer in the market) and monopolist (only seller in a market) given its unique control over the professional baseball market. While other professional sports leagues are subject to competition laws, MLB is uniquely positioned to have complete control over licensing, geographic exclusivity for teams, broadcasting, and salaries. Unsurprisingly, MLB’s unrestricted control of the multibillion-dollar professional baseball market has raised concerns about the continued exemptions.

AntitrustBaseballSupreme Court