SEC Chair Gary Gensler warned of broad challenges and increased risk resulting from the use of AI models in the financial sector. He highlighted the need to update regulatory guidelines, establish strict oversight mechanisms and enhance disclosure requirements for companies utilizing AI.
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The SEC set an effective date of February 5, 2024 effective date for its final rule prohibiting an asset-backed "securitization participant" from engaging in any transaction that could involve or result in a material conflict of interest.
The SEC adopted a final rule to prohibit an asset-backed "securitization participant" from engaging in any transaction that could involve or result in a material conflict of interest.
The SEC set a comment deadline of October 10, 2023 for a proposed rulemaking that would require broker-dealers and investment advisers to eliminate conflicts of interest associated with the use of predicative data analytic technologies.
The SEC proposed a rulemaking that would require broker-dealers and investment advisers to eliminate conflicts of interest associated with the use of predicative data analytic technologies.