This new law, which took effect Jan. 1. 2o24, was enacted to help prevent and combat money laundering, terrorist financing, corruption, tax fraud and other illicit activity. It requires corporations, limited liability companies and other filing...
The commission accused Global Predictions and Delphia of “AI washing,” making misleading claims about how they each used artificial intelligence in managing investments.
The advocacy group for advisors argued the rule is overly broad. In contrast, the outgoing director of the SEC's Investment Management Division said the degree of risk in AI’s proliferation is “obvious.”
