Super Intelligence definition proposal due (60 days) · Nov 28, 2026 · See what changes
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The SEC has no AI-specific disclosure rule. It applies existing antifraud, disclosure and marketing rules to AI claims and has brought 'AI washing' cases: in March 2024 it charged two investment advisers, Delphia (USA) Inc. (a $225,000 penalty) and Global Predictions Inc. ($175,000), for false statements about their use of AI, and in January 2025 it charged Presto Automation Inc., its first AI-washing case against a public company. Public companies must accurately disclose material AI risks and capabilities under existing rules.
If you are a public company or a startup that makes representations about AI to investors, SEC disclosure obligations apply to material AI risks and capabilities. Claims in investor decks, press releases, or public filings about your AI technology must be accurate and not materially misleading. The SEC has brought enforcement actions against two investment advisers in March 2024 for making false claims about using AI — the first 'AI washing' enforcement actions. For private companies, investor representations about AI in fundraising materials carry similar fraud risk under general securities law.