Foundation Grants
Community Vital Signs
About Us
"It is simply not good enough that, for many advisers, their understanding of AI is that information goes into a black box,'magic happens' and something comes out."
So said the outgoing director of the Securities and Exchange Commission's Investment Management Division in March.
The Wall Street Journal reports William Birdthistle was speaking at the Investment Advisers Association Conference, and that's when things got a little more complicated.
Birdthistle was referring to robo-advisers, which, as the name suggests, use artificial intelligence to get around SEC rules.
Robo-advisers, as they're known, " rely on algorithms, provide advisory services over the internet, and may offer limited, if any, direct human interaction to their clients, their unique business models may raise certain considerations when seeking to comply with the Advisers Act," the SEC said in its 2017 guidance on robo-advisers, which noted that advisers must " obtain information from clients about the robo-adviser and the investment advisory services it offers" and must "implement effective compliance programs reasonably designed to address particular concerns relevant to providing automated advice."
The Journal reports the SEC is now looking into the use of robo-advisers by registered investment advisers, or RIAs, which, as the name suggests
Read the Entire Article
Selected Foundation News
A customized collection of news from foundations from around the Web.
When New Jersey resident Samantha Pearlman Mazuz lost her mother in a car accident when she was 19, she didn't think much of what would happen to her for the rest of her life. "I didn't know what...more
Foundation: Susan Thompson Buffett Foundation, Gates Foundation
"For too long, a lack of money has forced organizations fighting for women's rights into a defensive posture while the enemies of progress play offense," writes Melinda French Gates in a New York...more
Two Houston-area schools were closed Wednesday due to power outages, KPRC reports. High School and Winship Elementary School in the Spring Independent School District closed "out of an abundance...more
New York state's school boards are getting a boost from voters: The state's teachers' union says 97% of school budgets passed in Tuesday's vote, with 84% of union-endorsed candidates elected to...more
The University of Tulsa's department of electrical and computer engineering has a new exhibit at the Tulsa Air and Space Museum, and it's a doozy. It features an F-16 fighter simulator, as well...more
Foundation: Heinz Endowments, Richard King Mellon Foundation
Imagine a world where every child has access to high-quality, affordable education. That's the vision of a group called Remake Learning, which this month hosted the firstForge Futures summit in...more
"More than ever before, students are asking us how they can 'future-proof' their educational route. They're keen to minimize the risk of their future degree being gazumped by a job market...more
If you're a Canadian artist who's made work in a variety of media and enjoys working with inorganic waste, you may be in luck. Toronto's Design Zone is now accepting applications for a...more
Big Brothers Big Sisters of Central Ohio is using nearly $1 million in grants from Battelle to create after-school and summer programs focused on science, technology, engineering, and math for...more
A high school senior in Beverly Hills, Calif., has turned an underused storage area into a state-of-the-art podcast studioand it's all for free. Colby Gilardian, a senior at Beverly Hills High...more
New News from...
Heinz Endowments
Richard King Mellon Foundation
Kentucky Foundation for Women
Osceola County Community Foundation
McPherson County Community Foundation
Omaha Community Foundation
Community Foundation of North Central Washington
Quad Cities Community Foundation
Manatee Community Foundation
Oregon Community Foundation
Social Entrepreneurship
Spotlight
5 Steps to Social Innovation
While philanthropy, social responsibility and corporate governance all already play a role, we will probably see more powerful contributions when companies embed social innovation into their core business strategies and operations.