The SEC published information and guidance for investors and the financial services industry on the use of robo-advisers. The SEC's Division of Investment Management issued guidance for investment advisers with suggestions on meeting disclosure, suitability and compliance obligations under the Investment Advisers Act of 1940. It reminded advisers that, while robo-advisers operate under a broad range of business and service models, all are required to follow investment adviser rules, including operating as a fiduciary. A second publication, an Investor Bulletin issued by the SEC's Office of Investor Education and Advocacy, provides individual investors with information they may need to make informed decisions if they consider using robo-advisers, including doing the same research they would before investing with any other financial services firm.
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SEC provide robo-adviser guidance - Investment News
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