(Reuters) -Wall Street's top regulator on Wednesday adopted new rules requiring publicly traded companies to disclose hacking incidents, a measure officials said was to help the investing public contend with the mounting cost and frequency of cyber attacks.
On a party-line vote, the five-member U.S. Securities and Exchange Commission also voted to propose requiring broker-dealers to address conflicts of interest in the use of artificial intelligence in trading, a reform partly influenced by the events of the 2021 "meme stock" rally when officials found robo-advisers and brokers used AI and game-like features to drive user behavior.
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