AI Power
SEC Reportedly Seeks Bank Records in Situational Awareness Probe
Image: Primary The Securities and Exchange Commission has reportedly subpoenaed banks that did business with AI-focused hedge fund Situational Awareness, seeking records related to the fund's trading supervision and funding channels. The reported subpoenas asked banks to preserve information about the firm. Situational Awareness has not been accused of wrongdoing, according to the source, and told the New York Times it would cooperate with regulatory requests. The firm suffered losses after an end-of-July downturn in AI stocks, the source said.
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