SEC Chair Wary Of Conflicts, Bias In Predictive Data Tools

By Dean Seal (October 12, 2021, 9:02 PM EDT) -- The head of the U.S. Securities and Exchange Commission said the regulator is taking a hard look at conflicts of interest and other risk areas that may accompany the digital engagement practices employed by online brokerages and advisers.

Chairman Gary Gensler was both enthusiastic and circumspect in his comments at Practising Law Institute's annual SEC Speaks conference on Tuesday about the growing adoption of so-called predictive data analytics by the financial sector for things like online trading and asset management.

The former Goldman Sachs banker-turned-financial regulator said digital engagement practices, or DEPs, that finance platforms use to tailor products to individual...

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