SEC Sues Delphia, Global Predictions for Bogus Claims on AI Use – Bloomberg

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The US Securities and Exchange Commission penalized two money managers for what it says were bogus claims about their use of artificial intelligence, marking the beginning of a fresh crackdown by Wall Street’s main regulator.

The SEC said Monday that Delphia (USA) Inc. and Global Predictions Inc. both made “false and misleading statements” about their purported use of the technology.

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