Galvin launches investigation into brokers’ use of AI

The state of Massachusetts is concerned about what it calls a growing and potentially unchecked use of artificial intelligence in the securities industry. On Wednesday, Secretary of the Commonwealth William Galvin announced that his securities division would launch an investigation into how firms are using AI to engage with Massachusetts...

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State regulators, PIABA still resist Finra remote supervision plan

State regulators and securities plaintiffs’ attorneys continue to resist a Finra plan that would allow brokerages to conduct remote supervision of their registered representatives. In March, the Financial Industry Regulatory Authority Inc. released a proposal that would treat a home office from which a broker is supervising other reps as...

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GOP effort to curb ESG proves unsuccessful so far

For all of the Republican Party’s furious opposition to ESG, its efforts to accomplish something on the legislative front have fallen short. At least that’s the view of Cowen Inc. analyst John Miller, who closely tracks regulatory affairs for the firm’s Washington Research Group. House Republicans held a series of hearings last month, which Miller monitored....

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