Summary:
- The U.S. Securities and Exchange Commission (SEC) has settled charges against Artificial Intelligence (AI) trading firm Statistica Capital and its founder, Yuri Lebedev, for alleged "AI washing" and other violations.
- Statistica Capital claimed to use AI-powered trading strategies, but the SEC found that the firm misrepresented its capabilities and failed to properly register as an investment advisor.
- The settlement requires Statistica Capital to pay a $1.5 million penalty and prohibits Lebedev from associating with any investment advisor, broker, or dealer for at least five years.