# Atkins remarks at Investor Advisory Committee (Sep 2026): Remarks at the SEC Investor Advisory Committee Meeting on AI Technologies and the Public Markets Information Ecosystem

Source: https://www.bankingnewsai.com/ai-regulation/documents/sec-atkins-iac-ai-disclosure-remarks-2026-09
Last updated: Sep 14, 2026

Speaking virtually to the SEC's Investor Advisory Committee on September 10, 2026 — at a panel titled 'AI Technologies and the Public Markets Information Ecosystem' — Chairman Paul Atkins reaffirmed that the Commission will not relax or restructure disclosure rules because AI can process more information faster. He warned that AI 'cannot always discern fact from fiction, much less materiality from immateriality,' and said AI 'should serve as a complement to — not a substitute for — human judgment' in preparing and interpreting financial disclosures. Nine months after the Committee's own December 2025 recommendation that the SEC mandate AI-specific disclosures, the Commission still has not acted on it.

## At a glance

| Field | Value |
| --- | --- |
| Authority | [SEC](https://www.bankingnewsai.com/ai-regulation/sec) |
| Type | Speech |
| Status | Final |
| Published | Sep 10, 2026 |
| Applies to | Public companies, including bank holding companies; statement of the Chairman's own views |
| Official text | https://www.sec.gov/newsroom/speeches-statements/atkins-remarks-iac-091026 |

## Key points

- Delivered virtually to the IAC's September 10, 2026 meeting, on a panel examining how AI is changing the public markets' information ecosystem.
- Restates that materiality, not processing speed, sets the disclosure bar: the Commission will not 'depart from its longstanding principle of materiality' because AI can analyze more information.
- Flags hallucination risk as a reason for caution about relying on AI in the disclosure process itself: AI 'cannot always discern fact from fiction, much less materiality from immateriality.'
- Confirms the SEC will not 'prescribe the specific models that firms must employ' — no technology-specific mandates.
- Notes that AI's speed does not reduce 'the substantial cost and effort on issuers and their shareholders to prepare' disclosures.
- Comes nine months after the IAC's December 4, 2025 recommendation that the Commission require AI-specific disclosures, which the Commission still has not acted on.

## What changed for banks

The remarks are the clearest reaffirmation since Atkins' March 2026 FSOC roundtable speech that the Investor Advisory Committee's own December 2025 AI-disclosure recommendation will not become Commission guidance. For bank holding companies weighing AI-specific disclosure items, the Chairman's position is unchanged: materiality governs, and AI's hallucination risk is treated as a reason for caution about AI in the disclosure process itself, not a reason for new mandated line items.

## Use cases it governs

- [AI governance (general)](https://www.bankingnewsai.com/ai-regulation/by-use-case#governance-general)
- [Generative & agentic AI](https://www.bankingnewsai.com/ai-regulation/by-use-case#generative-agentic-ai)

## FAQ

### Has the SEC created AI-specific disclosure rules as of September 2026?

No. Chairman Atkins told the Investor Advisory Committee on September 10, 2026 that materiality — not new AI-specific rules — governs disclosure, and that the Commission does not intend to mandate particular AI models or new disclosure line items.

### What did Atkins say about AI and hallucination risk?

He warned that AI systems 'cannot always discern fact from fiction, much less materiality from immateriality,' and said AI should complement, not substitute for, human judgment in preparing and reviewing disclosures.

## Related documents

- [Atkins remarks at FSOC AI roundtable (Mar 2026)](https://www.bankingnewsai.com/ai-regulation/documents/sec-atkins-fsoc-ai-roundtable-2026) — Remarks at Financial Stability Oversight Council Artificial Intelligence Innovation Series Roundtable on Strategy and Governance Principles (Mar 4, 2026)
- [Investor Advisory Committee AI disclosure recommendation](https://www.bankingnewsai.com/ai-regulation/documents/sec-iac-ai-disclosure-recommendation-2025) — Recommendation of the SEC Investor Advisory Committee Regarding the Disclosure of Artificial Intelligence's Impact on Operations (Dec 4, 2025)
- [Division of Examinations FY2026 Priorities](https://www.bankingnewsai.com/ai-regulation/documents/sec-exam-priorities-fy2026) — Examination Priorities: Fiscal Year 2026 — Division of Examinations (Nov 17, 2025)
- [SEC withdrawal of proposed rules (33-11377)](https://www.bankingnewsai.com/ai-regulation/documents/sec-pda-proposal-withdrawal-33-11377) — Withdrawal of Proposed Regulatory Actions — including the predictive data analytics conflicts proposal (Jun 12, 2025)
- [SEC v. Saniger (Nate, Inc.)](https://www.bankingnewsai.com/ai-regulation/documents/sec-nate-saniger-ai-washing-2025) — SEC Charges Founder of Nate, Inc. with Fraud Over False Claims About the Company's Use of Artificial Intelligence (Apr 9, 2025)
- [Presto Automation AI-washing order](https://www.bankingnewsai.com/ai-regulation/documents/sec-presto-automation-ai-washing-2025) — SEC Charges Restaurant-Technology Company Presto Automation for Misleading Statements About AI Product (Jan 14, 2025)
- [Division of Examinations FY2025 Priorities](https://www.bankingnewsai.com/ai-regulation/documents/sec-exam-priorities-fy2025) — Examination Priorities: Fiscal Year 2025 — Division of Examinations (Oct 21, 2024)
- [Delphia / Global Predictions AI-washing settlements](https://www.bankingnewsai.com/ai-regulation/documents/sec-delphia-global-predictions-ai-washing-2024) — SEC Charges Two Investment Advisers with Making False and Misleading Statements About Their Use of Artificial Intelligence (Mar 18, 2024)

Last reviewed Sep 14, 2026. Cite the official text (https://www.sec.gov/newsroom/speeches-statements/atkins-remarks-iac-091026) for the rule and this page for the summary and dates.

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