The Securities and Exchange Commission is investigating Situational Awareness, an Artificial Intelligence-focused hedge fund run by a 24-year-old.
Regulators have sent subpoenas to major Wall Street banks seeking information about trades and financing tied to the fund. The information being sought is related to the trading activity of the hedge fund.
The fund, which was previously the talk of Wall Street, became the subject of federal subpoenas shortly after coming under pressure and being forced to exit many of its positions last month.