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. The technology robos use, “by its nature, is limited in terms of how you can interact with the client. 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). 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.