Chris Browne

On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit vacated the pending SEC Private Funds Rule, which industry experts had described as “a sea change and meaningful recasting of the SEC’s mission.” The Court accepted the argument that the SEC violated the Administrative Procedure Act by enacting a regulation that was not sufficiently supported by any enabling statute. Accordingly, the Court vacated the Private Funds Rule in its entirety, throwing a long-held ambition of current SEC Chair Gary Gensler to regulate private investment funds into profound question.

‘Legal Apocalypse? An In-House Counsel’s Parses AI’ delves into the impact of generative AI on the legal profession. It assesses which legal practices and positions are more likely to face disruption and those relatively safe from AI influence. The blog navigates the spectrum of AI’s problem-solving capabilities, from well-defined to ill-defined problems, and scrutinizes the potential transformations in various legal domains — including litigation, document review, legal analysis, and transactional work. The article concludes with a perspective on how AI’s evolution might shape legal practices and the importance of integrating AI thoughtfully into the legal field.