Home
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
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
PepsiCo has selected eight startups from the Middle East and North Africa region as finalists in its Mega Green Accelerator program, which aims to " nurture the next generation of innovators as they...more
Funding for green technologies is on the rise in India, and the country's biggest investment fund is aiming to raise $1 billion for a climate-related fund by 2022, Bloomberg reports. The fund,...more
Missouri's Department of Economic Development has announced the 37 organizations that will receive a total of $6 million in state tax credits through its Youth Opportunities Program, the Kansas City...more
In October, Israel's Soroka Medical Center opened its doors to what it says was the largest mass-casualty event at a hospital in its history, treating more than 680 wounded in the first 24 hours...more
A kiosk in New Jersey will be the first in the country to offer a free, FDA-approved rapid fentanyl test, as well as Narcan, COVID testing, and other intervention strategies for free to help combat...more
Foundation: GE Foundation
"You showed up in the classroom. You showed up in the laboratory. You showed up on Zoom. And you showed up here today," University of Massachusetts Amherst Chancellor Javier Reyes told...more
A group in India called the Nourishing Schools Foundation has been working to combat undernourishment and anaemia among adolescent women in the state of Rajasthan since the academic year 2023-24,...more
The 14th annual Hawai'i Food & Wine Festival is scheduled to take place in October, and in addition to food and wine, festival-goers will get a chance to support local farmers, fishermen, and...more
Foundation: Highmark Foundation
The American Heart Association will be getting a CPR kit in West Virginia schools thanks to a hefty grant from the Highmark Foundation, the Charleston Gazette-Mail reports. The foundation's West...more
Foundation: Community Foundation of Herkimer and Oneida Counties
The Community Foundation of Herkimer and Oneida Counties has announced it has awarded more than $2 million in grants to organizations and initiatives primarily in the areas of human services,...more
Social Entrepreneurship
Spotlight
Vertical Farming: The Way to Feed a Global Population
Vertical farms are designed in a way to avoid the pressing issues about growing food crops in drought-and-disease-prone fields miles away from the population centers in which they will be consumed.
