Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
The commission accused Global Predictions and Delphia of “AI washing,” making misleading claims about how they each used artificial intelligence in managing investments.
FINRA argued Osaic Wealth (formerly Royal Alliance) and Securities America didn’t have proper cyber controls in place at branch offices, resulting in dozens of breaches over several years.
Though the number of fines increased from 2022 by 63%, the disciplinary actions declined for the third straight year, according to an analysis from the law firm Eversheds Sutherland.
JPMorgan Managing Director Mara Shreck said she expected the ESG rule to be in “lockstep” with the climate rule for issuers, which was finalized this week.
The advocacy group for advisors argued the rule is overly broad. In contrast, the outgoing director of the SEC's Investment Management Division said the degree of risk in AI’s proliferation is “obvious.”
