The reviews are in, and they aren’t good. Various segments of the wealth management industry are blasting the Securities and Exchange Commission’s proposal to set new regulations for how investment advisors and brokers use predictive analytics, AI, and other technologies in their work with clients.
The proposal aims to crack down on conflicts of interest that could arise if an algorithm is calibrated to place a firm’s financial interests ahead of its clients’, but opponents argue that it could be broadly interpreted to apply…
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