The Investment Industry Association of Canada (IIAC) responded to a consultation from the Canadian Securities Administrators (CSA) on the applicability of Canadian securities laws and use of artificial intelligence (AI) systems in capital markets.
“Existing securities laws and regulations provide for firm risk management frameworks that are continuously updated to address emerging technologies such as AI. A scaled, proportionate and risk-based approach to the continued implementation of current securities laws and regulations, rather than any technology specific rules, will serve the benefits of continued innovation and investor protection,” the IIAC wrote.