Generative Artificial Intelligence (AI) and large language models (LLM) are taking the world by storm, presenting numerous opportunities to create business efficiencies. While the new technologies offer many potential benefits to firms, regulators and investors, they also introduce unique risks.
On this episode, we hear from Brad Ahrens, senior vice president of Advanced Analytics, Andrew McElduff, vice president with Member Supervision's Risk Monitoring team and Haime Workie, vice president and head of FINRA's Office of Financial Innovation, who are closely looking at these technologies and following developments in this space to learn how FINRA is looking at and thinking about generative AI when it comes to its own business and what it's looking at and seeing when it comes to firm use of these tools.
Resources mentioned in this episode:
Artificial Intelligence (AI) in the Securities Industry
Artificial Intelligence (AI) and Investment Fraud
Reg Notice 21-19: Obligations Related to Outsourcing to Third-Party Vendors
Rule 3110: Supervision
2024 FINRA Annual Regulatory Oversight Report
2023 Executive Order on Artificial Intelligence for Congress
NIST: Artificial Intelligence
Beyond Hollywood: Money Laundering in the Securities Industry
2019 Budget Summary: A Look Behind the Curtain
FINRA’s Point Guard: The Central Review Group
Member Relations & Education: Making Regulation Smarter
CRD Transformation: Enhancing the Registration & Disclosure Process
A Look at the FINRA Institute at Georgetown CRCP Program
The Future of RegTech: The Challenges and Opportunities
The Annual Priorities Letter: A Fresh Take
Behind the Scenes: FINRA's Board of Governors
Bits & Bytes: A Look at Effective Cybersecurity Practices
Insider Trading: Finding the Needle in the Haystack
Millennials and Money: How to Get Started on the Road to Investing
Member Supervision: Introducing Bari Havlik and the Exam Program Transformation
Cybersecurity Awareness Month: Stay Connected and Protected
Debunked: 7 Myths about Millennials—the Underinvested Generation
The New SIE Exam: Opening Doors to the Securities Industry
Sharing Data and Strengthening Compliance
How FINRA Rules Get Made (And Reviewed)
Fintech, Regtech & Suptech: Keeping Up with Industry Innovations
Enforcement Guiding Principles
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