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United States: SEC rule targets conflicts of interest in Predictive Data Analytics

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In brief

On July 26, 2023, the SEC published new proposed rules and amendments (“Proposal“) to address certain conflicts of interest associated with the use of Predictive Data Analytics (PDA) by broker-dealers and investment advisers (firms) in interactions with investors. The wide-ranging Proposal would require firms to implement detailed policies and procedures to identify and “eliminate or neutralize” the effects of such conflicts of interest. 

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Amy serves as the Co-chair of Baker McKenzie's North American Financial Regulation and Enforcement Practice, which provides our clients with a full range of regulatory advice and enforcement counseling. Amy also serves on the steering committees of the Firm's Global Financial Services Regulatory and Global Financial Institutions Groups. Previously, Amy has served as chief litigation counsel at the US Securities and Exchange Commission's (SEC) Philadelphia regional office and managed a team of lawyers overseeing a wide variety of enforcement matters.

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Jennifer L. Klass serves as the co-chair of Baker McKenzie's North America Financial Regulation and Enforcement Practice, which provides clients with a full range of regulatory advice and enforcement counseling. Jen is an experienced financial services regulatory lawyer with particular focus on investment adviser regulation and the convergence of investment advisory and brokerage services. She regularly represents clients before the US Securities and Exchange Commission (SEC), both in seeking interpretative guidance and in managing examination and enforcement matters.

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