Investors should do their own follow-up homework after consulting robo-advisers, according to the US Securities and Exchange Commission (SEC). The SEC has warned investors that they may be subject to a fine if they fail to follow up on information provided by financial advisers about investments in cryptocurrencies. “This information is designed to help investors tap into the opportunities that fintech innovation can provide while ensuring fairness and investor protection", explained Acting Chairman Michael Piwowar. Among its guidelines, the SEC says clients should consider how often automated advisers follow up on their investment choices.
Investors should do their own follow-up homework after consulting robo-advisers, according to the US Securities and Exchange Commission (SEC). Users of automated advice must also examine what level of human interaction is important to them before choosing a service, said the regulator in a new set of investor guidelines. “This information is designed to help investors tap into the opportunities that fintech innovation can provide while ensuring fairness and investor protection", explained Acting Chairman Michael Piwowar. Among its guidelines, the SEC says clients should consider how often automated advisers follow up on their investment choices.