In opening remarks to the Investor Advisory Committee, the U.S. Securities and Exchange Commission asked members to assess how artificial intelligence is affecting public company disclosures and the implications of its proposal to rescind key Regulation National Market System trading restrictions. The remarks cautioned against premature AI regulation while asking whether any current issues are sufficiently developed for commission review. On AI, the discussion will examine issuers’ use of the technology, its effects on disclosure accuracy and boilerplate, its interaction with structured data rules, and whether it widens cost and operational disparities between large and small entities. On market structure, the committee was asked to consider how to preserve the National Best Bid and Offer as a reliable benchmark if Rule 611 is rescinded, how the proposed changes may affect retail and institutional investors differently, and how any further Regulation NMS reforms should be sequenced.
2026-09-10U.S. Securities & Exchange Commission
U.S. Securities and Exchange Commission frames AI disclosure and post-Rule 611 market structure questions for investor advisers
The U.S. Securities and Exchange Commission asked its Investor Advisory Committee to examine AI’s effects on public company disclosures while cautioning against regulating the technology prematurely. It also sought views on preserving the National Best Bid and Offer, investor impacts and the sequencing of further market reforms if the commission rescinds Regulation NMS Rule 611 and restrictions on locked and crossed markets.