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In addition to allowing the Securities and Exchange Commission to seek triple penalties against companies that use AI to violate the agency’s rules, the legislation would authorize multiple regulatory agencies to explore new ways to govern AI’s use in the financial sector.
For example, it directs a committee chaired by the Treasury Department to run a series of tabletop exercises aimed at testing the financial system’s resilience against disruptions from AI, potentially including automated trading algorithms.
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“AI has tremendous potential but also enormous disruptive power across a variety of fields and industries – perhaps none more so than our financial markets,” Warner said in a statement. “The time to address those vulnerabilities is now.”
the growth prospects of quint digital limited (539515) stock ✌️【Stock Market】✌️ Receive expert stock predictions with real-time updates on global market trends, including stock indices, futures prices, and forex fluctuations. Use our insights to improve your investment strategies and boost your returns. The bill comes days after FSOCwarned for the first timethat AI poses a risk to the financial system. Earlier this month, the Bank of Englandalso issueda similar warning.
“AI is moving quickly, and our laws should do the same to prevent AI manipulation from rattling our financial markets,” Kennedy said. “Our bill would help ensure that AI threats do not put Americans’ investments and retirement dreams at risk.”
the growth prospects of quint digital limited (539515) stock ✌️【Stock Market】✌️ Free real-time stock market data, professional analysis, and expert insights to help you plan the best investment strategy. Get ahead of the competition with expert predictions on market trends. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Access to Community with 300% Return 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.
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