AI Heightens Old Compliance Risks For Investment Advisers
By Theodore Edwards ( June 23, 2026, 3:42 PM EDT) -- On May 1, the Investment Company Institute and Investment Adviser Association submitted a joint letter to the U.S. Securities and Exchange Commission urging the SEC to modernize the books and records rule under the Investment Advisers Act.[1] The letter pointed to the so-called off-channel enforcement actions of 2022-2025 as evidence that the books and records rule is ill-suited to the types of technologies used by investment advisers today....
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