AI Rules and Enforcement for Advisers

No SEC rule is specific to an adviser's use of artificial intelligence. Existing rules apply instead. A claim that the firm uses AI is a statement in an advertisement and must be true and substantiated, and the Commission has brought cases against advisers that overstated it.

Examiners also ask how a firm supervises the AI tools it uses, what client data those tools receive, and whether the firm's policies and vendor diligence cover them.