Reported 12 months ago
As robot or AI financial management rapidly expands, the Financial Supervisory Commission (FSC) decided to 'supervise' the industry. The Securities and Futures Bureau announced the amendment of the Regulations Governing the Operation of Investment Advisory Enterprises, elevating the regulation of automated investment advisory services to a statutory level and strengthening internal company management and accountability mechanisms. Facing the approaching billion-dollar scale of robot financial management, the FSC decided to enhance supervision to protect investors, focusing on elevating important provisions from self-regulation to statutory status, strengthening internal company management, accountability mechanisms, external review, and self-regulation mechanisms. The revised regulations are expected to take effect in the fourth quarter of this year.
Source: YAHOO