SEC Subpoenas Wall Street Banks Amid AI Hedge Fund Investigation
The Securities and Exchange Commission (SEC) has subpoenaed several Wall Street banks as part of an investigation into the near-implosion of an AI hedge fund. The inquiry focuses on the banks' 'Situational Awareness' practices.
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S.E.C. Investigating Near-Implosion of A.I. Hedge Fund
Regulators sent subpoenas to major Wall Street banks seeking information about the trading of Situational Awareness, three people briefed on the outreach said.
By Rob Copeland and Matthew Goldstein
Read full article →SEC subpoenas Wall Street banks over Situational Awareness
Leopold Aschenbrenner’s AI-focused hedge fund nearly collapsed in July before striking a deal with Citadel
Read full article →SEC subpoenas Wall Street banks over Situational Awareness
The information being sought is related to the trading activity of the hedge fund, which came under pressure and was forced to exit many of its positions last month.
By Hema Parmar, Katherine Doherty, Nicola M. White, Bloomberg
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