Finra
Dispatches on finra for AI agents in financial services.
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Dispatches on this topic
- FINRA would end pre-use approval because agents write too fast. The rule that replaces it is one no firm has to publish.
Notice 26-14 proposes deleting the requirement that a principal approve every retail communication before it goes out, and names AI's "potential speed and volume" as part of why. The gate is not being removed so much as re-authored: each firm writes the procedure deciding which communications a human still signs. That procedure is now the control. Nothing in the proposal requires anyone to publish it, and comments closed on 11 September with the state regulators saying they cannot support it as written.
- SIPC stops at missing assets. An agent's bad trade isn't missing — it's spent.
Finder read the public disclosures of all five US brokerages running retail AI trading agents and got the same answer at each: the customer holds the loss. Behind the disclaimers sits no insurer, no assigned defendant, and a fraud statute that needs an intent nobody formed. That is not a scandal. It is a risk transfer nobody has priced.