SEC Chair Gary Gensler warned investment advisers, broker-dealers and public companies that misstating their use of AI in investment strategies or company operations may violate securities laws.
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The SEC charged a motor company for misleading investors about the company's plans to develop the first full-size electric pickup truck and separately charged the company's accounting firm for violating auditor independence rules.
The SEC updated its guidance on investment adviser marketing since the adoption of the "Marketing Rule".
An investment adviser settled SEC charges for disclosing to investors, potential investors and industry contacts material non-public information in violation of the adviser's policies and procedures.
The SEC set an effective date of December 11, 2023 for rule amendments that prevent investment companies from adopting names that may mislead investors. The date was published in the Federal Register.