Data tools

SEC Chairman Bewares of Conflicts and Bias in Predictive Data Tools

By Dean Seal (October 12, 2021, 9:02 p.m. EDT) – The head of the United States Securities and Exchange Commission has said the regulator is closely examining conflicts of interest and other areas of risk that may accompany digital engagement practices employed. by online brokers and advisers.

Chairman Gary Gensler was both enthusiastic and circumspect in his comments at the Practicing Law Institute’s annual SEC Speaks on Tuesday on the growing adoption of predictive data analytics by the financial industry for things like e-commerce and asset management.

The former Goldman Sachs banker turned financial regulator said the digital engagement practices, or DEP, that financial platforms use to tailor products to individual needs …

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