US SEC Chair: Will Hold Accountable Those Who Use AI for Fraud or Exaggerated Promotion

Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), stated at the Financial Stability Oversight Council's Artificial Intelligence Innovation Series Roundtable that AI will reshape capital market regulation. The U.S. SEC established an AI task force in August this year to promote the application of artificial intelligence in risk assessment, market anomaly monitoring, information disclosure review, and market risk analysis. The SEC adheres to a "technology-neutral" and "materiality principle-based" information disclosure framework, opposes simply adding mandatory disclosure requirements in a checklist manner, and will pursue legal accountability for fraudulent or exaggerated promotion using AI. At the same time, it encourages open dialogue between market participants and regulatory authorities to jointly promote the healthy development of capital markets.