SEC subpoenas banks over AI-focused hedge fund
The US Securities and Exchange Commission has subpoenaed Wall Street banks for information about trading by Situational Awareness, the AI-focused hedge fund founded by Leopold Aschenbrenner, according to the Financial Times and Fortune. The fund came under pressure and exited many positions last month before striking a deal with Citadel after nearly collapsing in July.
Why it matters
The inquiry puts regulatory attention on trading around a prominent and highly concentrated AI investment fund.
Sources
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Part of the August 25, 2026 brief.