美國 SEC 執法主管表示，該機構正監看企業 AI 相關資訊揭露

作者：克里斯・普倫蒂斯By Chris Prentice

紐約，10 月 30 日（路透）——美國證券交易委員會（SEC）執法部門主管週五告訴路透，隨著投資人愈來愈擔心可能由循環交易助長的 AI 泡沫，該機構正在審查人工智慧公司的企業資訊揭露。NEW YORK, Oct 30 (Reuters) - The US Securities and Exchange Commission is examining artificial intelligence companies' corporate disclosures as investor worries mount over a potential AI bubble that may have been fueled by circular deals, the agency's enforcement director told Reuters on Friday.

大型科技股本週遭到拋售，因為各公司揭露，在利率上升之際，它們正快速消耗現金以推動 AI 擴張，令人質疑 AI 支出的永續性。Big Tech stocks sold off this week as companies disclosed they are burning through cash to fuel their AI expansion at a time when interest rates are rising, raising questions about the sustainability of AI spending.

今年 5 月出任 SEC 執法部門主管的大衛・伍德科克表示，該機構不希望阻礙科技創新，但確保發行人向投資人完整說明潛在風險，是該機構的職責。David Woodcock, who became SEC enforcement director in May, said the agency does not want to stand in the way of tech innovation, but that it is the agency's job to ensure issuers are giving investors the full picture on potential risks.

伍德科克在受訪時說：「我們最主要的關切，是人們是否就重大資訊作出準確揭露，讓投資人知道自己將面對什麼。執法是確保人們做到這一點非常必要的一環。」"Our principal concern is that people are making accurate disclosures about material information so that investors know what they're getting into," Woodcock said in an interview. "Enforcement is a very necessary piece of making sure people are doing that."

他說，若未作出這類揭露，「那麼執法就會介入」。Where such disclosure does not happen, "then enforcement will be present," he said.

伍德科克也表示，AI 和超級智慧讓詐騙更容易、成本更低，且可大規模製造，使愈來愈多人面臨風險。他說，經紀商和其他公司需要建立程序，以保護散戶投資人並「採取審慎行動」。Woodcock also said that AI and superintelligence have made scams much easier and cheaper to manufacture at scale, raising risks for more and more people. Brokers and other firms need to have processes in place to protect retail investors and "take thoughtful action," he said.

私募市場與預測市場PRIVATE MARKETS AND PREDICTION MARKETS

伍德科克表示，SEC 將持續關注私募市場的問題，並補充說，執法團隊的資產管理部門非常重視利益衝突與估值問題。Woodcock said the SEC will continue to look at issues in private markets, adding that the enforcement team's asset management unit is very focused on conflicts of interest and valuations.

伍德科克說：「當人們未作出準確揭露時，無論是關於估值或其他事項，執法都有其角色。我認為你會看到這個領域出現更多活動。」"When people don't make accurate disclosures, whether it's about valuations or whatever, then there is a role for enforcement," Woodcock said. "I think you'll see more activity in this space."

路透先前報導，SEC 正在調查一種私募股權基金，這是該機構對不透明市場更廣泛關注的一部分。Reuters previously reported the SEC was probing a type of private equity fund as part of the agency's broader interest in the opaque markets.

伍德科克表示，SEC 在監督預測市場方面也扮演角色；這類市場允許人們對現實世界事件下注，包括體育賽事、政府政策宣布和選舉。Woodcock said the SEC also has a role in overseeing prediction markets, which allow people to bet on real-world events, including sports, government policy announcements and elections.

由 Polymarket 和 Kalshi 領軍的這類市場，過去兩年人氣大增，並一直在進軍美國股票。這類與股票連結的預測市場，傳統上將落入 SEC 管轄範圍。The markets, led by Polymarket and Kalshi, have surged in popularity over the past two years and have been pushing into US stocks. Such equity-linked prediction markets would traditionally fall under SEC jurisdiction.

伍德科克說，該機構的執法人員正與政策官員以及大致負責監督交換市場的商品期貨交易委員會合作，以監控並監管這些蓬勃發展的新市場。Woodcock said the agency's enforcement staff are working with policy officials as well as the Commodity Futures Trading Commission, which broadly oversees swap markets, to monitor and regulate the booming new markets.

被問及是否可能對未向該機構註冊的公司提起案件時，伍德科克表示，該機構不希望透過執法行動來監管這個新興產業。When asked about the possibility of bringing cases against firms that do not register with the agency, Woodcock said the agency does not want to regulate the new industry through enforcement actions.

他說：「我們希望在合理之處參與其中，但不是以壓垮創新的方式。」"We want to be involved where it makes sense, but not in a way that crushes innovation," he said.

（克里斯・普倫蒂斯紐約報導；Michelle Price 與 Chizu Nomiyama 編輯）(Reporting by Chris Prentice in New York; editing by Michelle Price and Chizu Nomiyama )