Fiduciary duty: advisers must disclose conflicts, segregate services, and secure client data when using AI. Investment advisers must act in a fiduciary capacity, disclose all conflicts of interest, avoid receiving consideration from parties other than the client, maintain an arms-length relationship and segregation between advisory and other activities, protect client confidentiality except as required by law, follow Know Your Client procedures and the prescribed Code of Conduct, comply with certification requirements, and bear sole responsibility for security and integrity of client data and compliance when using Artificial Intelligence tools.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fiduciary duty: advisers must disclose conflicts, segregate services, and secure client data when using AI.
Investment advisers must act in a fiduciary capacity, disclose all conflicts of interest, avoid receiving consideration from parties other than the client, maintain an arms-length relationship and segregation between advisory and other activities, protect client confidentiality except as required by law, follow Know Your Client procedures and the prescribed Code of Conduct, comply with certification requirements, and bear sole responsibility for security and integrity of client data and compliance when using Artificial Intelligence tools.
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