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The Securities and Exchange Commission (SEC) has fined two investment advisers for allegedly making false statements about their use of artificial intelligence (AI), in a crackdown on 'AI washing.' The firms agreed to pay a combined $400,000 in penalties to settle the charges, marking one of the first-ever enforcement actions against such practices.
SEC Settles Charges Against Investment Advisers for Misleading AI Claims https://t.co/dOdaMfSW6c #artificialintelligence #securitiesexchange #finance @UnitedStatesSEC https://t.co/Dn9ZP2Obh9
SEC Issues First AI-Related Civil Penalties and Warns Against “AI Washing” https://t.co/BgtbxkTM5R | by @BilzinLaw
New Settlements Demonstrate the SEC’s Ongoing Efforts to Hold Companies Accountable for AI-Washing https://t.co/czy7UxPjXX | by @whitecase
