Paul, Weiss, Rifkind, Wharton & Garrison LLP

Litigation partners Christopher Boehning and Dan Toal’s latest Federal E-Discovery column, “Court Rejects Forensic Examination of Nonparty Cellphone,” appeared in a recent issue of the New York Law Journal. Learn more: https://lnkd.in/e934A5aU

In this week’s episode of “Paul, Weiss Waking Up With AI,” Anna Gressel explores groundbreaking research on “subliminal learning” in AI, revealing how LLMs can inherit hidden behavioral traits—including harmful biases—from seemingly benign data. Listen and subscribe: https://lnkd.in/e2U378kq #WakingUpWithAI #AI #ArtificialIntelligence

Corporate partner Aaron Schlaphoff spoke with PitchBook about legislation recently passed through the U.S. House of Representatives which calls on the Securities and Exchange Commission to revise the definition of “accredited investor” from high-net-worth individuals to anyone who passes a federally mandated exam, thus expanding access to private markets. Learn more: https://lnkd.in/eYQQCfQh

Just published! Our annual Private Equity Fundraising: Key Trends and Market Survey. Private equity fundraising is tough - are clearer skies ahead? How are GPs navigating a challenging fundraising market? Will we see an uptick soon? Dive into key insights below and stay tuned for more highlights! Reach out to Shea Leigh Neville (sneville@paulweiss.com) for a copy of the report. Huge thanks to my colleagues Caitlin Melchior and Karen Hughes for their support.

Congratulations to corporate partner Eric Wedel for being named to the Los Angeles Business Journal's “Leaders of Influence: Banking and Finance” list, which honors financial advisors in the region for their exceptional leadership, knowledge, skill and achievements in banking. Learn more: https://lnkd.in/e8gafQZe #Finance #PrivateEquity

Cadence Design Systems, Inc. reached a comprehensive resolution of criminal and civil enforcement actions, including a guilty plea to a criminal conspiracy charge and $140 million in penalties, related to its unlawful export of semiconductor design technology to Chinese entities. This strong enforcement response demonstrates the U.S. government’s enforcement priority regarding export controls on sensitive technologies, particularly involving China and the semiconductor sector, and highlights a quickly evolving regulatory landscape and the need for companies in high-risk sectors to review their export control compliance programs. Read the memo: https://lnkd.in/eBc-SZuJ #ExportControl

We are pleased to announce that Leo Kitchen will join the firm as a partner in the Litigation Department, continuing the growth of our London litigation capabilities. Learn more: https://lnkd.in/eM-zGgrm

Congratulations to litigation counsel Sam Kleiner for being appointed vice chair of the International Anti-Money Laundering Committee of the American Bar Association’s International Law Section. Learn more: https://lnkd.in/eH8yCf2i #EconomicSanctions #AML

The UK High Court rejected a challenge by a Chinese holding company to a UK government order requiring it to divest its 80.2% interest in Future Technology Devices International Limited, a Scottish semiconductor designer. FTDI Holding Limited acquired the interest before the National Security and Investment Act (NSIA) 2021 took effect and the government called the transaction in for retrospective review in 2023. The court’s upholding of the government’s divestment order, despite finding that it was insufficiently reasoned, underscores the deference the court is prepared to show to the government on transactions involving matters of national security and demonstrates that Chinese-linked acquirers remain a focus of NSIA scrutiny. Read the memo: https://lnkd.in/eiA7WS-X #FDIRegulation

The European Commission has launched a public consultation on draft guidelines on the implementation of the Foreign Subsidies Regulation, which describe in detail how the Commission will determine any potential distorting effect of a foreign subsidy, weigh negative competitive effects against positive contributions, and exercise its powers to require ad-hoc notifications of otherwise non-notifiable concentrations. Among other things, the guidelines make clear that even transactions below the notification threshold may be subject to scrutiny, in particular where strategic assets or sensitive technologies are concerned, and that the foreign subsidy does not need to be the sole or primary reason for the finding of a negative impact. Read the memo: https://lnkd.in/ewcpfiKS #Antitrust #ForeignSubsidies