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25 - Securities Regulation and AI

Regulating Robo-Advisers

from Part III - Corporate and Commercial Law

Published online by Cambridge University Press:  21 March 2024

Ernest Lim
Affiliation:
National University of Singapore
Phillip Morgan
Affiliation:
University of York
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Summary

Because the use of robo-advisers creates significant risks in addition to the rewards that their use offers, the question of how they ought to be regulated has been and continues to be a subject of substantial debate. The various models for regulating the robo-adviser industry are examined. The best model for regulating the robo-adviser industry is a mix of mandatory disclosure; fiduciary duties for those developing, marketing, and operating robo-advisers; investor education; and regulation by litigation. Further, robo-advisers ought to be regulated by the regular standardised surveying of the investors who are using them and the release of that data to the general public.

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Publisher: Cambridge University Press
Print publication year: 2024

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