{"id":56013,"date":"2023-08-05T12:27:41","date_gmt":"2023-08-05T16:27:41","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=56013"},"modified":"2023-08-05T12:41:41","modified_gmt":"2023-08-05T16:41:41","slug":"massachusetts-regulators-launch-probe-into-ai-in-securities-industry","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/massachusetts-regulators-launch-probe-into-ai-in-securities-industry\/","title":{"rendered":"Massachusetts Regulators Launch Probe Into AI in Securities Industry"},"content":{"rendered":"\n

Massachusetts securities regulators<\/a> are investigating the use of AI in the securities sector to protect users' interests. <\/p>\n\n\n\n

\"Massachusetts
Massachusetts Regulators Launch Probe Into AI in Securities Industry<\/figcaption><\/figure>\n\n\n\n

Secretary William Galvin announced the investigation on August 3, focusing on how businesses engage with investors when using AI. The regulators sent letters to registered and unregistered companies using or developing AI for commercial purposes in the securities industry, requesting information on AI utilization<\/a>. <\/p>\n\n\n\n

The companies have until August 16, 2023, to respond. The investigation is particularly interested in firms' supervisory procedures concerning AI and whether these systems prioritize clients' interests over their own. <\/p>\n\n\n\n

Additionally, they will evaluate disclosure policies for companies already using AI. Galvin emphasized the importance of proper disclosure and consideration of conflicts in AI deployment to avoid harm to investors.<\/p>\n\n\n\n

The regulators also ask specific companies about investor-facing marketing materials produced using AI. The rapid global expansion of AI has raised regulatory concerns, with major tech companies\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> increasing AI use in recent years. <\/p>\n\n\n\n

However, regulators have expressed worries about AI's potential problems, citing concerns about natural monopolies and hazards to financial stability.<\/p>\n\n\n\n

Massachusetts securities authorities are working to ensure AI applications in the securities sector don't harm investors and comply with proper disclosure and protection measures.<\/p>\n","protected":false},"excerpt":{"rendered":"

Massachusetts securities regulators are investigating the use of AI in the securities sector to protect users’ interests. Secretary William Galvin announced the investigation on August 3, focusing on how businesses engage with investors when using AI. The regulators sent letters to registered and unregistered companies using or developing AI for commercial purposes in the securities […]<\/p>\n","protected":false},"author":43,"featured_media":56015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[3996,15600],"class_list":["post-56013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ai","tag-massachusetts"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/croc_1691249763996.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/56013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=56013"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/56013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/56015"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=56013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=56013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=56013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}