Investment advisers pay $400K to settle ‘AI washing’ charges
March 18, 2024 at 05:43PM The SEC announced settlements with investment advisers Delphia (USA) and Global Predictions for misleading claims about using AI technology in their services. Both companies agreed to pay $400,000 in civil penalties for “AI washing” activities. The SEC found false representations about AI usage, leading to violations of the Advisers Act. … Read more