SEC Chairman: Hold accountable for using AI to defraud or exaggerate promotional activities

Paul Atkins, Chairman of the US Securities and Exchange Commission (SEC), stated at the Financial Stability Oversight Board's AI Innovation Series Roundtable that AI will reshape capital market regulation. The SEC established an AI working group in August this year to promote the application of AI in risk assessment, market anomaly monitoring, information disclosure review, and market risk analysis. The SEC adheres to a "technology neutral" and "importance based" information disclosure framework, opposes simple overlapping list based mandatory disclosure requirements, and will hold accountable those who use AI for fraud or exaggerated advertising in accordance with the law. At the same time, it encourages market participants and regulatory authorities to open up dialogue and work together to promote the stable development of the capital market.