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.
If you're an engineer looking to make your mark in the tech world, Forbes has just the list for you. The magazine interviewed 11 engineering leaders, including James Dyson of vacuum company...more
Fast fashion is here to stay, at least according to a new report from the European Commission, which notes that by 2050, the fashion industry is expected to be responsible for more than one-third of...more
The global impact investing market was valued at $478.15 billion in 2023, and is expected to reach $550.52 billion by 2024, at a compound annual growth rate (CAGR) of 15.1%, according to a new...more
A startup in the Czech Republic is hoping to change the way people think about energy. Delta Green, formerly known as Nano Green, says it has received $2.2 million in funding to expand into...more
Reshma Saujani has spent more than a decade building movements to fight for women's and girls' economic empowerment, working to close the gender gap in the tech sector and, most recently, advocating...more
"Many of the people we support could never dream of taking a breakthey are coming to us in desperation in the current cost of living crisis for financial support with food and clothing and even...more
Richard II is coming to the Asheville, NC, stage this summer. The Montford Park Players will perform the English king's rivalry with his successor, Henry IV, in the 2024 season, titled Muse of...more
India's stock market has come up with a novel way to raise funds for social causes: the social stock exchange. The Securities and Exchange Board of India on Monday asked social enterprises that...more
Ukraine's pro-Russia separatists have been fighting government troops in the country's east for more than a year now, and while the situation is still very much in flux, one tangible sign of...more
In the age of AI, it's no surprise that companies are rolling out AI moderation and recommendation systemsbut how do they make sure the systems aren't biased against users? That's the question at...more
New News from...
Logan Healthcare 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.