A legal framework for Robo-Advisors

Abstract

The aim of this paper is to offer a broad framework to allow a better understanding of the current legal situation of Robo-Advisory. The disruption of robo-advisors as new market players in the financial sector are bringing new challenges that the regulators must face in the short term. For this reason, at this time, it is necessary to delve into some key aspects that regulators should consider in order to create and implement effi-cient regulation of this new phenomenon. The goal of this work is to clarify some as-pects in order to understand Robo-Advisory from the legal point of view, taking into account the determinant uses of Robotics, Artificial Intelligence (AI) and Digital Tech-nologies to the financial services, with a brief and particular focus on the European Fi-nancial Market Regulation.

The aim of this paper is to offer a broad framework to allow a better understanding of the current legal situation of Robo-Advisory. The disruption of robo-advisors as new market players in the financial sector are bringing new challenges that the regulators must face in the short term. For this reason, at this time, it is necessary to delve into some key aspects that regulators should consider in order to create and implement effi-cient regulation of this new phenomenon. The goal of this work is to clarify some as-pects in order to understand Robo-Advisory from the legal point of view, taking into account the determinant uses of Robotics, Artificial Intelligence (AI) and Digital Tech-nologies to the financial services, with a brief and particular focus on the European Fi-nancial Market Regulation.