SEC Subpoenas Wall Street Banks Over AI Hedge Funds

The SEC's subpoenas signal that AI-driven hedge fund strategies are moving from a niche experiment to a supervisory priority, with banks drawn in as counterparties and prime brokers. That matters because it puts the AI-finance intersection under the same disclosure and conduct microscope that has shaped other market-structure debates. The open question is whether this scrutiny stays confined to AI fund oversight or extends to the broader bank-AI relationship. For now, the item offers no direct read-through to RWA tokenization.