CNBC
SEC reportedly subpoenas Wall Street banks over AI hedge fund Situational Awareness's near collapse
Tuesday, August 25, 2026
The Securities and Exchange Commission subpoenaed major Wall Street banks for information regarding trades and financing connected to the AI-focused hedge fund Situational Awareness, according to reporting. The subpoenas sought documents and data related to the fund's financial activities and banking relationships. Situational Awareness experienced financial difficulties that prompted the SEC inquiry.