Posts by Pasquarello | Fink | Haddad LLC

The SEC has proposed a rule that it says will remove or uncover conflicts of interest in the use of predictive analytics or AI techonology by investment advisers. If adopted, however, the rule will cause unnecessary compliance headaches and deter advisers from using technology — old and new — that could benefit advisory clients. The…

In coordinated actions, the SEC and FinCEN have proposed changes to the definition of “financial institutions” covered by the BSA to include RIA and ERAs, and to add customer identification program (CIP) requirements for advisory firms. Pointing to the more than $115 trillion RIA space as an entry point for terrorists and other bad actors,…