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2 May 2024, 4:37 pm by Kevin LaCroix
As I noted in a post on this site at the time, last December, SEC Chair Gary Gensler specifically warned against AI-related misrepresentations, and cautioned reporting companies against so-called “AI-washing,” echoing concerns about climate change-related “greenwashing,” and referring to companies that attempt to burnish their investment profile with outsized claims about their AI-related opportunities. [read post]
1 May 2024, 6:30 am
The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1] The Form PF Amendments are designed to enhance both the SEC’s and the Financial Stability Oversight Council’s (“FSOC”) monitoring of systemic risk, and strengthen the regulatory oversight of private funds and investor protection efforts.[2] The Form PF Amendments were jointly adopted by the SEC and CFTC… [read post]
1 May 2024, 6:30 am
The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1] The Form PF Amendments are designed to enhance both the SEC’s and the Financial Stability Oversight Council’s (“FSOC”) monitoring of systemic risk, and strengthen the regulatory oversight of private funds and investor protection efforts.[2] The Form PF Amendments were jointly adopted by the SEC and CFTC… [read post]
26 Apr 2024, 12:59 pm by Rosalie Chen
On April 4, Senator Charles Grassley (R-IA), Ranking Member of the Senate Committee on the Budget, wrote a letter to Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), expressing concerns about delays and lack of transparency in the agency’s whistleblower compensation. [read post]
25 Apr 2024, 6:00 am by George Bellas
In addition to potentially misleading consumers and harming investors, this can break U.S. securities law, according to Gary Gensler, chair of the Securities and Exchange Commission. [read post]
24 Apr 2024, 10:42 am by Race to the Bottom
The rapid surge in popularity of the SPAC IPO was, and is, of great concern to SEC Commissioner, Gary Gensler, who feels that the SPAC IPOs are being used to circumvent “time-tested investor protections. [read post]
23 Apr 2024, 7:02 am by Jon Shazar - Dealbreaker
Jay Powell and Gary Gensler are too disinterested or busy to follow the law and do their jobs, so you’re in the clear. [read post]
18 Apr 2024, 9:01 pm by renholding
It also means reviewing speeches like Chair Gensler’s recent speech on AI, which highlighted multiple other ways in which a firm’s AI use may heighten risk or implicate the federal securities laws.[15] He specifically discussed the conflicts of interests raised by AI for advisers, the problems presented by AI hallucinations, and the threat that AI could pose to the stability of our markets. [read post]
7 Apr 2024, 9:05 pm by Jack Solowey
Securities and Exchange Commission Chair Gary Gensler interpreted the FAIRR Act as proposing to impose a strict liability standard. [read post]
4 Apr 2024, 6:02 am by Unknown
By Suzanne CosgroveSEC Chair Gary Gensler Tuesday outlined his view of the agency’s long-term mission, calling U.S. capital markets “a national asset” and defending a series of recent Commission proposals, including central clearing for U.S. [read post]
1 Apr 2024, 10:00 am by Paul Caron
With Conference Featuring SEC Chair Gary Gensler Daily Report, Georgia... [read post]
29 Mar 2024, 5:22 am by Rob Robinson
Most recently, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), raised concerns about the overreliance on AI in financial decision-making. [read post]
28 Mar 2024, 12:39 pm by Kevin LaCroix
Just as the ESG-related claims have to a significant extent involved these kinds of greenwashing claims, the AI-related claims that have emerged so far have involved a very close corollary to greenwashing – that is, what SEC Chair Gary Gensler called “AI washing,” which is the alleged effort by some firms to portray themselves or their products or services as AI-enabled, in order to burnish their AI credentials at a time when AI is of keen interest to investors. [read post]
28 Mar 2024, 6:11 am by Alexander Abramenko
In a speech before the Yale Law School February 2024, SEC Chair Gary Gensler had AI top of mind. [read post]
28 Mar 2024, 6:00 am by Alexander Abramenko
In a speech before the Yale Law School February 2024, SEC Chair Gary Gensler had AI top of mind. [read post]
28 Mar 2024, 5:11 am by Unknown
Jason Howard, J.D.The SEC has voted to modernize a 22-year-old rule by adopting amendments that apply to when investment advisers who provide advisory services exclusively over the internet can register with the SEC.In July 2023, the Commission voted 5-0 to issue the internet advisers proposal and, at that time, SEC Chair Gary Gensler explained that in 2002 the SEC granted a narrow exception allowing internet-based advisers to register with the Commission instead of with the… [read post]
24 Mar 2024, 10:00 pm
SEC Chair Gary Gensler previously analogized “AI washing” to “greenwashing” (referring to misleading statements about how eco-friendly a company is) and cautioned businesses to ensure they are not misleading the public about their AI use. [read post]
24 Mar 2024, 10:00 pm
SEC Chair Gary Gensler previously analogized “AI washing” to “greenwashing” (referring to misleading statements about how eco-friendly a company is) and cautioned businesses to ensure they are not misleading the public about their AI use. [read post]