December 7, 2021

Volume XI, Number 341

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December 06, 2021

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Hello Dave - FINRA Meets AI

FINRA recently published a paper on the development of Artificial Intelligence (AI) in the financial services industry.  The paper follows a July 2018 request for comments from the industry on the potential challenges associated with using and supervising AI applications at broker-dealers.  Based on comments, FINRA conducted a review of the use of AI in the securities industry to better understand the applications of the technology, the associated challenges, and the measures taken by broker-dealers to address those challenges.

The paper: (i) briefly defines AI and its scope in the securities industry; (ii) provides an overview of broker-dealers’ use of AI with respect to communications with customers, investment processes, and operational functions; and (iii) discusses key factors including potential regulatory considerations, securities market participants may want to consider as they develop and adopt AI-based tools.

FINRA has requested comments on all areas covered by the paper.

© Polsinelli PC, Polsinelli LLP in CaliforniaNational Law Review, Volume X, Number 167
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About this Author

Peter Waltz, Polsinelli Law Firm, Denver, Corporate and Finance Law Attorney
Counsel

Peter Waltz is dedicated to helping clients achieve their objectives by employing a comprehensive, interdisciplinary approach to their legal and business challenges. He advises companies in all phases of the business cycle and provides ongoing advice and counsel on day-to-day operational, business, and legal issues. This focus includes the preparation and negotiation of documents related to entity selection and formation, corporate structure, corporate governance, and commercial contract matters. Peter advises a variety of clients with their business transactions,...

303-583-8254
Carter D. Gage Associate Corporate and Transactional Investment Funds
Associate

As an associate in the Corporate and Transactional practice, clients rely on Carter Gage to deliver a wide range of legal services during the life cycle of the client’s business. His practice focuses on advising clients on mergers and acquisitions and general corporate and transactional matters, ranging from selecting the appropriate choice of entity to dispositions and exit strategy. 

Carter focuses on building quality relationships with clients in order to better understand their needs and better project what issues their businesses might encounter in the future. He believes that...

212-413-2874
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