Aug 24 (Reuters) – The U.S. Securities and Exchange Commission has sent subpoenas to major Wall Street banks, seeking information about the trading of hedge fund Situational Awareness, the New York Times reported on Monday.
The requests included details on the AI-focused fund’s communications with lenders about the leverage it was taking on, alongside the timings of its trades, the report said, citing people familiar with the matter.
Any investigation into the fund is at an early stages and there is no guarantee the probe will lead to fines or other punishment, the report added.
The SEC and Situational Awareness did not immediately respond to Reuters requests for comment. Reuters could not independently verify the report.
The hedge fund, run by former OpenAI researcher Leopold Aschenbrenner, sold the bulk of its portfolio to Citadel last month after losses in its tech holdings forced it to unwind most of its public equities portfolio.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Joyjeet Das)
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