AI product management · Industry brief

Salsify, a cloud-native Product Experience Management software provider, agreed to be acquired by private equity firm Cinven. The deal reflects Cinven's confidence in Salsify's growth potential and its platform for managing and syndicating product information across digital commerce channels. Goodwin LLP advised Salsify on the transaction. (Source: Goodwin Law press release)

Illinois enacted the Artificial Intelligence Safety Measures Act, targeting developers of frontier AI models (foundation models trained with computing power exceeding 10^26 operations) with a new state compliance regime effective January 1, 2027-2028. Large frontier developers (revenues exceeding $500 million) must register with the state, publish frameworks assessing catastrophic risks, disclose transparency reports before model deployment, maintain independent annual audits, report critical safety incidents within 72 hours (24 hours for imminent death risk), and implement whistleblower protections, with penalties reaching $1 million ($3 million for repeat violations). The law preempts local regulation but includes a federal interoperability provision allowing compliance with substantially equivalent federal standards to satisfy Illinois requirements, though it currently creates a binding overlay absent comparable federal rules. The Trump administration may scrutinize the disclosure and reporting mandates under First Amendment commercial speech doctrine. Source: JD Supra citing Illinois SB 0315, signed July 6, 2026.

FINRA issued Regulatory Notice 26-14 in July 2026 proposing substantial modernization of Rule 2210 governing broker-dealer communications with the public. The proposal would replace universal principal pre-use approval with a written, risk-based supervisory framework tailored to firm size, business model, products and risk profile, with comments due September 11, 2026. Key changes include eliminating the static-versus-interactive distinction for social media, expressly addressing AI-generated and AI-supervised communications (with firms remaining responsible for all content regardless of creation method), revising advertising filing requirements to permit post-use filing for certain investment-company rankings and comparisons, and replacing detailed recommendation-specific requirements with a fair-and-balanced standard aligned with SEC Investment Adviser Marketing Rule standards. The proposal identifies non-exclusive risk factors firms should consider when designing supervisory procedures, including product complexity, preparer qualifications, recommendations or promotions, third-party products, audience targeting, performance information, distribution method and compliance history. FINRA's filing data from 2023-2025 showed 24 percent noncompliance in pre-use filings and 10 percent in post-use filings, with approximately 69 percent of first-year new-member filings found noncompliant, informing expectations for training and supervisory evidence under any final rule.