SEC Brings Two More “AI Washing” Enforcement Actions Against Investment Advisers, Continuing Its Pursuit of Misstatements Related to AI 

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SEC Brings Two More “AI Washing” Enforcement Actions Against Investment Advisers, Continuing Its Pursuit of Misstatements Related to AI 

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Providing a strategic, multidisciplinary approach to help clients develop and use AI and to navigate the landscape of Big Data.
WilmerHale’s broker-dealer team draws on its intricate knowledge of the regulatory landscape to advise the world’s leading financial market participants.
WilmerHale has played a leading role in shaping the rules that govern the financial services industry in the United States.
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WilmerHale’s Investment Management Group provides sophisticated legal and regulatory advice to investment advisers, private fund sponsors, registered funds, and their independent trustees.
WilmerHale has a record of success at all stages of enforcement proceedings—from informal inquiries to litigation.

On March 18, 2024, the Securities and Exchange Commission (SEC) announced settled charges against two investment advisers, Delphia (USA) Inc. (Delphia) and Global Predictions, Inc. (Global Predictions), for making false and misleading statements about their use of artificial intelligence. Delphia and Global Predictions agreed to settle the SEC’s charges and pay civil monetary penalties of $225,000 and $175,000, respectively.

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