Source: Harvard Law School Forum on Corporate Governance

Paul S. Atkins, identified as Chairman of the U.S. Securities and Exchange Commission, delivered pre‑recorded remarks on September 12, 2026, addressing the Investor Advisory Committee and two panels that day. He emphasized that Artificial Intelligence can assist in distilling information from SEC filings but cautioned that its use does not permit departing from the SEC’s longstanding materiality principle when setting disclosure requirements. Atkins reiterated his personal disclaimer that the views expressed are his own, and stressed that the substantial costs and efforts issuers and shareholders bear in preparing disclosures do not diminish merely because AI helps interpret produced information.

Atkins warned that AI remains prone to errors and “hallucinations,” and should therefore complement — not substitute for — human judgment in preparing disclosures relied upon by investors. He noted AI’s effects on investor decision‑making through speed and precision, but flagged risks including model opaqueness, cascading errors from widespread reliance, and amplification of harms if misused. On market structure, he described Rule 611 (the Trade‑Through Rule) as a longstanding policy misstep that contributed to liquidity fragmentation and proliferation of trading venues; he reported that the Commission proposed in June to rescind Rules 611 and 610(e), that substantial public comment has been received and is being reviewed, and that he looks to the day’s panel feedback to inform the Commission’s approach while the SEC maintains it will not prescribe specific models for firms.