Senators spar over SEC regulatory authorities at oversight hearing addressing disclosure polices, AI regulation

SEC Chair Gary Gensler responded to questions on the commission’s regulatory authorities at a Tuesday Senate Banking Committee hearing that largely addressed disclosure policies, comment deadlines and potential regulation on artificial intelligence.

“New technologies risk further concentrating power on Wall Street at the expense of American savers. Meanwhile, fraudsters are using cyber attacks and ‘deep fake’ AI technologies to scam American savers,” Banking Chairman Sherrod Brown (D-OH) said in his opening statement.

Brown said, “Faced with an unfair playing...