The Securities and Exchange Commission recently requested information and public comment on matters related to the use of digital engagement practices by broker-dealers and investment advisers. The SEC defines digital engagement practices (DEPs) to include the following nine categories of practices purportedly engaged in by broker-dealers and investment advisers: (i) social networking tools, (ii) games, streaks and other contests with prizes, (iii) points, badges and leaderboards, (iv) notifications, (v) celebrations for trading, (vi) visual cues, (vii) ideas presented at order placement and other curated lists or features, (viii) subscriptions and membership tiers, and (ix) chatbots.

WilmerHale Partners Kelly P. Dunbar and Stephanie Nicolas will participate in the webinar as speakers, and explore whether these nine categories of practice require a new regulatory regime and how the existing framework addresses firms’ use of DEPs today.