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20 - Financial Advisory Intermediaries and AI

from Part III - Corporate and Commercial Law

Published online by Cambridge University Press:  21 March 2024

By
Iris H.-Y. Chiu
Edited by
Ernest Lim  and
Phillip Morgan
Ernest Lim
Affiliation:
National University of Singapore
Phillip Morgan
Affiliation:
University of York
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Summary

The robo-advice industry is one of the fastest-growing ‘AI’-powered automated services that may be transforming access to investment advice. However, the robo-advice industry has settled on low-cost, standardised advice linked to relatively non-complex financial products that are offered to customers, rather than aiming for intelligent and personalised advisory tailoring. The regulatory regime for investment advice plays a significant part in delineating the boundaries of legal risk for the industry, therefore shaping the design of robo-advice as an innovation.

Keywords

Financial intermediariesrobo-adviceEU Markets in Financial Instruments Directive 2014financial conduct authorityretail distribution review
Type
Chapter
Information
The Cambridge Handbook of Private Law and Artificial Intelligence , pp. 452 - 471
Publisher: Cambridge University Press
Print publication year: 2024

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