President Trump has decided against establishing an AI industry self-regulatory body modeled after FINRA following opposition from Elon Musk, Mark Zuckerberg, and Jensen Huang. The proposal was ultimately rejected after the tech leaders expressed their concerns directly to the administration. The initiative, originally proposed by Google DeepMind CEO Demis Hassabis in July, aimed to create an independent agency for testing cybersecurity, biological, and deception risks in frontier models up to 30 days before public release. The plan envisioned voluntary participation initially with the potential for mandatory compliance under government oversight.