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Investment Adviser Analytics

Manatt, Phelps & Phillips, LLP

SEC Moves Closer to Regulating the Use of AI by Broker-Dealers and Investment Advisers

The Securities and Exchange Commission (SEC) held an open meeting of its Investment Advisory Committee on June 6, 2024, which featured a panel to review the use of artificial intelligence in investment decision making....more

Miller Canfield

2024 Regulatory Update for Investment Advisers

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In 2023, the Securities and Exchange Commission issued various proposed rules on regulatory changes that will affect SEC-registered investment advisers (RIAs). Since these rules are likely to be put into effect, RIAs should...more

Foley & Lardner LLP

The Not-So-Wild West of AI Regulation

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Over the past year, we have seen the various agencies and branches of government issue a slew of rules, guidance, and directives over the use (and misuse) of Artificial Intelligence (AI). In May, the EEOC issued guidance on...more

White & Case LLP

Navigating New Frontiers in Regulatory Enforcement: the SEC Increases Scrutiny of Artificial Intelligence

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The SEC is Keeping a Watchful Eye on Companies' Claims about their AI Capabilities and Issued a Recent Warning: Don't "AI-Wash" - In July 2023, the SEC proposed new rules that would require broker-dealers and investment...more

Dorsey & Whitney LLP

RIA Regulatory Review - October 2023

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This RIA Regulatory Review highlights certain key regulatory developments affecting investment advisers. Please contact us with any questions on the topics covered below. The SEC Adopts Significant New Rules for Private...more

BCLP

SEC Proposes Stringent New Conflict-of-Interest Rules Regarding Broker-Dealers’ and Investment Advisers’ Use of AI

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On July 26, 2023, the majority of the Commissioners of the U.S. Securities and Exchange Commission (the “SEC”) voted to propose new rules under the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to...more

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: SEC Cracks Down on Broker-Dealers and Investment Advisors Using Predictive Data Analytics

The SEC cracks down on potential conflicts of interest for broker-dealers and investment advisors using predictive data analytics, the “No Robot Bosses Act of 2023” is introduced in the Senate to regulate employers’ use of...more

K&L Gates LLP

A New Frontier: The SEC Addresses Artificial Intelligence (and a Whole Lot More)

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Executive Summary - Newly proposed rules (the Predictive Analytics Rules) will, if adopted as proposed, require broker-dealers and investment advisers (firms) to: (i) identify conflicts of interests when using certain...more

WilmerHale

Broker-Dealers and Advisers Beware: The SEC’s “PDA” Proposal Could Upend Firms’ Interactions With Customers, Clients and Investors

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On July 26, 2023, the Securities and Exchange Commission (SEC or Commission) narrowly approved (3-2) a proposed rulemaking under the Securities Exchange Act of 1934 (Exchange Act) and the Investment Advisers Act of 1940...more

Dorsey & Whitney LLP

SEC Proposes Rules to Address Conflicts of Interests Associated with the Use of Predictive Data Analytics

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The Securities and Exchange Commission (the “SEC”) proposed new rules under the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to address the risks to investors from conflicts of interest associated...more

Fenwick & West LLP

SEC Proposes Rules on the Use of AI by Registered Investment Advisers and Broker-Dealers

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In light of concerns associated with artificial intelligence (AI) and AI-adjacent technologies such as machine learning in the field of investment advisory, the Securities and Exchange Commission (SEC) proposed new rules on...more

BakerHostetler

SEC Proposes AI Rules for Broker-Dealers and Advisers After Chair’s Warnings

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Chair Gensler’s Public Statements Warning of AI’s Impact on Securities Industry - In his speech before the National Press Club, Chair Gensler focused on the tremendous opportunities AI technology presents but cautioned...more

Seward & Kissel LLP

SEC Proposes New Rules Concerning Investment Adviser and Broker-Dealer Use of Predictive Data Analytics

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Who may be interested: Broker-Dealers, Investment Advisers - Quick Take: The SEC recently proposed new rules and amendments that seek to address conflicts of interest stemming from investment advisers’ and broker-dealers’...more

Eversheds Sutherland (US) LLP

SEC takes on AI use by broker-dealers and investment advisers - Expansive coverage of types of technology and investor interaction...

In a Legal Alert issued before the SEC open meeting, we posed five questions that our Investment Services team would be looking out for as part of this meeting. We now have answers to some of these questions....more

Broker-Dealer Compliance + Regulation

OCIE Publishes Exam Priorities for 2016

The National Exam Program of the SEC’s Office of Compliance Inspections and Examinations (OCIE) published its examination priorities for 2016 this week. Much like last year’s letter, this year’s letter is organized around...more

Dorsey & Whitney LLP

SEC Files It's First Robocop Cherry Picking Action

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When the SEC announced it financial fraud task force and a related data initiative to facilitate the identification of situations where the company “cooked the books,” many dubbed the data program “Robocop.” While the SEC may...more

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