An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
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A broker-dealer settled SEC charges for failing to comply with Regulation Best Interest in connection with recommendations to retail brokerage customers purchasing mutual fund shares in their IRAs.
In a jointly issued investor alert, the SEC Office of Investor Education and Advocacy, the North American Securities Administrators Association and FINRA warned investors of the increased risks of fraud involving "the purported use of artificial intelligence and other emerging technologies."
Director of the SEC Office of Municipal Securities Dave A. Sanchez raised supervisory concerns over evolving deal structures amid low issuance in the municipal securities market.
SEC Chair Gary Gensler argued that a recent SEC proposal requiring firms to eliminate conflicts arising from the use of predictive data analytics in investor interactions, is consistent with the existing standards of Regulation Best Interest.