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AI washing
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Clean claims or dirty lies? The battle against corporate washing
Washing risks can lead to loss of reputation, loss of stakeholder trust and goodwill, employee brand damage, and costly legal/regulatory action.
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SEC announces enforcement results for fiscal year 2024
The SEC announced that it collected $8.2 billion in monetary penalties for FY 2024, the highest amount for the fines in the regulator’s history.
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Trading firm dinged for using buzzwords about purported AI capabilities
The SEC also accused the pair of lying to investors about Rimar’s assets under management.
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SEC Chair Gensler warns on AI conflicts of interest
As AI becomes increasingly widespread, financial institutions will have to make sure that their clients are coming first.
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SEC and SDNY signal eyes on AI-washing fraud as AI firm founder charged
The SEC is eying bold claims made by AI startups and investors about AI capabilities, and this AI-washing case is a prime example.