Finance News
SEC settles its first AI-washing cases for a combined $400,000
Two advisers paid penalties in March 2024 for overstating their use of machine learning, and the orders turn on the gap between claimed and actual model use.
Author
Naomi Bergman
Independent editorial contributor covering fintech, payments, household credit, regulation and markets.
Articles by Naomi Bergman
Finance News
Every backtest is one of many: what the trial count does to measured performance
Ten trials are enough to yield an in-sample Sharpe ratio of 1.57 from strategies with zero expected out-of-sample performance. What validation, multiple-testing…
Markets
What is 'probability of backtest overfitting,' and how is it actually measured?
A diagnostic built to answer one question a good Sharpe ratio can't: how much of a backtested strategy's performance is signal, and how much is the number of…
Finance News
July FOMC holds again — this time with three members voting to raise
The 9-3 vote on July 29, 2026 kept the range at 3.50 to 3.75 percent, the year's first hawkish dissents arriving after a unanimous June.
Finance News
AI-washing is not a model failure: what the SEC's enforcement actually measured
The SEC's first AI-washing settlements penalized false marketing about artificial intelligence, not a model's forecasting accuracy — a distinction that matters…