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Robo-advising, in its purest form, involves the delivery of financial advice via a digital platform that utilizes algorithms to elicit relevant information from users and identify suitable financial planning and investment strategies. Robo-advisory services can be offered at relatively low prices, and cater for small investment sums, thereby making a once exclusive service more accessible to the investing public. Because of the current mass market context, the focus is on relatively straightforward investment products. Robo-advisers are subject to the same regulatory requirements as human advisers although the digital format presents particular challenges. The chapter examines how regulators are meeting that challenge through dynamic regulation, such as sandboxes, and making use of soft law to find the requisite balance between safety and experimental entrepreneurship. Features of the robo-advising frameworks in five jurisdictions are considered: Australia, Hong Kong, Singapore, the UK and the US.

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Editor: Sandra Booysen
Monograph Book