United States of America: SEC investigation into Rimar Capital Entities over allegations of defrauding investors by making false and misleading statements about the use of artificial intelligence
Progress
Current status
under investigation
10 Oct 2024 under investigation
Scope
Implementers
United States of America
Policy Area
Consumer protection
Policy Instrument
Fair marketing and advertising practice requirement
Regulated Economic Activity
ML and AI development
other service provider
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Reached settlement in SEC case against Rimar over alleged fraudulent claims regarding AI use
On 10 October 2024, the United States Securities and Exchange Commission (SEC) announced that it reached a settlement agreement with Rimar USA and its executives over allegations of fraudulent claims about artificial intelligence (AI) use for automa…
SourceEvent type
investigation
Action type
interim ruling
Government branch
executive
Government body
other regulatory body