The Spanish Securities Commission (CNMV) published an investor note on the use of artificial intelligence (AI) in financial investing, warning that publicly accessible online AI tools can produce convincing but inaccurate or misleading investment recommendations that may lead to poor decisions and significant losses. The note advises investors to seek multiple viewpoints and not rely solely on AI-generated outputs, to be sceptical of “get rich quick” claims and high-return promises linked to AI strategies, and to recognise that many public AI tools are not authorised or supervised by financial regulators and have no duty to act in the user’s best interest or provide advice tailored to personal circumstances. It also highlights the limitations of AI outputs, including reliance on outdated, incorrect or incomplete information, and flags privacy risks where tools may lack adequate safeguards for personal data. Particular caution is urged around fee-charging AI websites and apps offering “stock picking” or “stock signals”, alongside a reminder that market movements are extremely difficult to predict and that human judgement and, where appropriate, authorised professional advice remain important.
Spanish Securities Commission (CNMV) 2025-03-25
Spanish Securities Commission cautions investors on risks of using public AI tools and stock signal apps for investment decisions
The Spanish Securities Commission (CNMV) cautioned against relying on AI tools for investing, highlighting risks of misleading recommendations and significant losses. Investors should seek diverse opinions, be wary of high-return claims, and recognize many AI tools lack regulatory oversight and privacy safeguards. The note emphasizes the importance of human judgment and professional advice in navigating market unpredictability.