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SEC | RIN: 3235-AN14 | Publication ID: Fall 2023 |
Title: Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers | |
Abstract:
The Division of Trading and Markets and the Division of Investment Management are considering recommending that the Commission adopt rules related to broker-dealer and investment adviser conflicts in the use of predictive data analytics, artificial intelligence, machine learning, and similar technologies in connection with certain investor interactions. The Commission proposed new rules under the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to eliminate, or neutralize the effect of, certain conflicts of interest associated with broker-dealers’ or investment advisers’ interactions with investors through these firms’ use of technologies that optimize for, predict, guide, forecast, or direct investment-related behaviors or outcomes. The Commission also proposed amendments to rules under the Exchange Act and Advisers Act that would require firms to make and maintain certain records in accordance with the proposed conflicts rules. This RIN has been merged with 3235-AN00. |
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Agency: Securities and Exchange Commission(SEC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 17 CFR 240.15l-2 17 CFR 240.17a-3 17 CFR 240.17a-4 17 CFR 275.211(h)(2)-4 17 CFR 275.204-2 | |
Legal Authority: 15 U.S.C. 78j 15 U.S.C. 78q 15 U.S.C. 80b-4 15 U.S.C. 80b-11 15 U.S.C. 80b-11(a) 15 U.S.C. 80b-11(h) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Federalism: Undetermined | |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Related RINs: Merged with 3235-AN00 | |
Agency Contact: Sirimal Mukerjee Senior Special Counsel, Division of Investment Management Securities and Exchange Commission 100 F Street NE, Washington, DC 20549 Phone:202 551-3340 Email: mukerjees@sec.gov |