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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FINRA proposed rule amendments to strengthen the general prohibition against borrowing and lending arrangements with customers, narrow certain exceptions to those prohibitions and enhance the notification requirements for approval of such arrangements.
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.
In a report titled "Issuer Considerations for Distributing Bonds: Establishing Priority of Orders," the MSRB offered an overview of how the prioritization of orders is determined and documented, and emphasized that "[i]ssuers are free to structure the priority of orders in any manner they see fit in light of their goals and objectives for the offering."