Research On The Legal Rules Of Robo-advisor’s Risks

After entering the second decade of the 21 st century,artificial intelligence technology has made breakthrough big progress in some key areas.The application in the financial service industry is mainly reflected in the rise and development of artificial intelligence investment advisors.There are also many legal risks,so relevant regulatory authorities need to implement corresponding regulatory measures.My country’s legal risk regulation recommendations for robo-advisors.Chapter 1: Theoretical analysis of the legal status of artificial intelligence investment advisorsThis chapter aims to introduce the historical evolution of status and relationship of smart investment advisors in my country.The origin of the development of roboadvisors abroad mainly includes two major development stages,the industry’s budding period and the rapid development period.Based on the differences in development subjects and business focus,products developed by different subjects have gradually formed three different models.And take the relatively successful "Financial Cube" application software currently running on the market as an example to analyze the operation logic and development level of my country’s robo-advisors.In the end,including the disputes in the academia and the prospects and reflections on the future.If robo-advisors can carry out asset management businesses in the future.Chapter 2: Risks Faced by my country’s Artificial Intelligence Investment Advisors This chapter aims to analyze the current risks faced by my country’s artificial intelligence investment consultants,mainly for the following four points:(1)market access risk;(2)entity identification risk;(3)fiduciary obligation risk;(4)electronic contract Carrier risk.When there is a problem with the algorithm,of practitioners and operating organizations are not as detailed as the disclosure of algorithms,profit models,and charging information.From the perspective of duty of care,practitioners and operating institutions also lack sufficient attention to the suitability of investors.Only a few online questionnaires are not enough to form a reasonable customer profile.Fourth,the risks of electronic contract carriers.Customers generally agree with the formatted contracts provided online,and in addition to the existing multiple alternative signing consent methods,the risks for the customers are exacerbated.Chapter 3: Legal Regulations on Risks of Foreign Artificial Intelligence Investment AdvisorsThis chapter aims to analyze the risk legal regulation methods of foreign artificial intelligence investment advisors,so as to obtain some enlightenment for my country’s regulatory methods.The countries included are the United States,the United Kingdom,and Australia.The robo-advisor in the United States has always been at the leading level in the world.Its regulatory logic is that the principles and regulations that the original traditional investment advisors should abide by are also applicable to roboadvisors.On this basis,some special regulations have been made for robo-advisors.There are strict requirements for the disclosure of information,and the method must be understood by the public;the insufficiency of the algorithm is disclosed in the content.Australia’s regulation of robo-advisors is characterized by high requirements for practitioners in operating institutions.Each project requires a financial service personnel with qualifications and experience to be responsible for it.Chapter 4: my country’s artificial intelligence investment consultants’ risk legal regulations are perfectFrom a macro perspective,the top-level involvement of artificial intelligence investment consultants is required.In the investment advice function of laws and regulations,not only the platform requires permission,but also the permission of practitioners.This is also consistent with the requirements of my country’s traditional investment consultants.Obstacles should be cleared for asset management functions,current laws and regulations should be revised,and detailed requirements for building an internal compliance system should be made.The latter encourages more financial technology companies to carry out compliance business,provides a buffer zone between the regulator and the regulated,and avoids the duplication of operations of the robo-advisory platform to meet regulatory requirements,or the regulatory agency due to technical lag.And the resulting blank space.Finally,regulators should regularly organize investor training and establish consumer protection mechanisms.