SEC subpoenas banks over Situational Awareness hedge fund collapse

Regulation
โดย The New York Times·US·Read original
Summary · why it matters

The Securities and Exchange Commission has sent subpoenas to major Wall Street banks seeking information about their dealings with Situational Awareness, the AI-focused hedge fund that nearly collapsed in late July. The subpoenas requested details on when the fund executed trades and how it communicated with lenders about borrowed capital, and banks were told to retain all records concerning the fund. Goldman Sachs, JPMorgan Chase, Citigroup, and Bank of America were named in the inquiry, according to a regulatory filing cited by The New York Times. Situational Awareness has not been accused of wrongdoing, and the SEC declined to comment, noting any investigation is at its earliest stages. The fund, founded two years ago by former OpenAI researcher Leopold Aschenbrenner, commanded roughly $45 billion at its July high point with up to 400% leverage before losing approximately $35 billion in assets after margin calls forced a distressed sale of its publicly traded holdings.

Impact on stocks 6

Financials▲ · 2 stocks
Bank of America Corp
BAC
± MixedRegulationrelevance

Bank of America is named in SEC subpoenas over dealings with collapsed hedge fund, but no wrongdoing alleged.

Goldman Sachs Group Inc
GS
± MixedRegulationrelevance

Goldman Sachs is named in SEC subpoenas over dealings with collapsed hedge fund, but no wrongdoing alleged.

Digital Finance & Tokenization▲ · 2 stocks
Citigroup Inc.
C
± MixedRegulationrelevance

Citigroup is named in SEC subpoenas over dealings with collapsed hedge fund, but no wrongdoing alleged.

JPMorgan Chase & Co
JPM
± MixedRegulationrelevance

JPMorgan Chase is named in SEC subpoenas over dealings with collapsed hedge fund, but no wrongdoing alleged.

Semiconductors▲ · 2 stocks
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