Latest news with #ethics
The Guardian
4 hours ago
- Business
- The Guardian
Tory peer apologises for helping set up ministerial meeting for firm he advises
A Conservative peer has apologised for breaking the House of Lords rules by helping to secure a meeting with a minister for a Canadian company he advises. Ian Duncan, a deputy speaker of the Lords, was found to have breached the rules by providing a parliamentary service for Terrestrial Energy when he facilitated an introduction between its chief executive and a new energy minister. His conduct had been reported to the House of Lords standards commissioner following the Guardian's months-long investigation examining the commercial interests of peers. As a result of the Lords debate series, four other peers are being investigated to establish whether they breached the house's code of conduct. A fifth peer, Iain McNicol, a former general secretary of the Labour party, was required to apologise in May for breaking the rules by writing to the Treasury to promote a cryptocurrency firm that was paying him. In a report published on Friday, the standards commissioner ruled that Lord Duncan of Springbank had broken the rules which forbid peers from seeking to profit from their membership of the upper chamber. The former junior climate minister has been an adviser to Terrestrial Energy since 2020. When he first joined, he was given share options, which allow him to buy shares in the company at a preferential rate if they become profitable. The Guardian revealed that, in 2023, Duncan forwarded a letter to Andrew Bowie, the nuclear minister at the time, from Simon Irish, the firm's chief executive who wanted a meeting with the minister at short notice. The peer signed off his email 'Lord D of S'. The chief executive of the company, which is developing a new type of nuclear reactor, secured the meeting with Bowie at which he lobbied for Terrestrial Energy to be given easier access to government funding. In his response to the watchdog, Duncan said Bowie was a 'friend of long standing' who had helped him get elected as a member of the European parliament in 2014 and had then worked in his Brussels office. Duncan argued: 'It was this personal relationship, and not my membership of the upper house, nor my government service, which led Mr Irish to ask whether there was a prospect (albeit limited) that a personal request might help land a meeting during his visit.' Margaret Obi, the Lords commissioner, decided that the rule prohibiting peers from providing 'parliamentary services in return for payment or other incentive or reward' was absolute. She added: 'It did not provide an exemption in cases where there was an existing personal relationship.' She ruled: 'Although Lord Duncan stated he was not paid specifically for facilitating this introduction, he received an allocation of share options as consideration for his work for Terrestrial Energy. 'I consider that this can reasonably be understood to have been an incentive or reward for the various tasks he undertook for the company.'
South China Morning Post
a day ago
- Automotive
- South China Morning Post
‘Respect for life': China sets out ethical guidelines for autonomous driving technology
China has released ethical guidelines for autonomous driving technology, highlighting the need for user safety and technology transparency. Advertisement Publishing the guidelines on Wednesday, the Ministry of Science and Technology said automated driving systems 'must demonstrate a high degree of respect for human life and actively seek effective strategies to minimise harm'. Algorithms, models and other content related to the technology must be clearly documented and readily accessible for inspection, it said. The guidelines aim to 'guide the regulated development and application of automated driving technologies, prevent ethical risks during R&D and product application, and promote the healthy growth of the sector'. Beijing stepped up its oversight of self-driving technology after three people died in a crash involving a Xiaomi electric vehicle in late March. The car was in driver-assistance mode and crashed into a barrier two seconds after the system alerted the driver to take control. 02:17 Xiaomi to cooperate with police after fatal crash involving self-drive feature on SU7 EV Xiaomi to cooperate with police after fatal crash involving self-drive feature on SU7 EV During a meeting in April, the Ministry of Industry and Information Technology, China's top regulator of the manufacturing and IT sectors, urged EV makers and technology providers to fully comply with regulations and not to overstate the role of the assistance systems.
CBC
a day ago
- CBC
A divinity school steeped in history tests the boundaries of artificial intelligence
So astonishing was the resemblance, in both voice and appearance, that college president Anna Robbins's own family couldn't tell the difference between herself and the on-screen avatar generated by artificial intelligence to deliver lectures to six graduate students. It was an illuminating and, undoubtedly to some in the broader university world, unnerving experiment in education, one that took place last fall at Acadia Divinity College, a small school steeped in Baptist history in rural Nova Scotia. A course whose syllabus was generated by AI, whose lectures were scripted and conducted online by AI, and where students were graded by AI for real marks. A course with an especially germane topic: the ethics of artificial intelligence in Christian ministry. "What blew our minds was realizing that I can speak 80 languages," Robbins said in a recent interview at the school in Wolfville, N.S. At first blush, the college of about 200 mostly graduate students would seem a curious place for such a plunge into the world of artificial intelligence. But it reflects not just a changing education landscape, but an energetic discussion in Christian circles about the technology. Like so many other facets of online life, AI has been inserted into religion. Christian chatbots answer theological questions, and apps help priests write sermons (or simply write the sermons for them). A church in Switzerland installed an AI Jesus avatar on a screen in a confessional booth. There's also plenty of worry, such as how artificial intelligence will be used in war or for selfish gain. Pope Leo XIV has called AI an "exceptional product of human genius," but warned it could harm humanity's "openness to truth and beauty" and "ability to grasp and process reality." The premise at Acadia Divinity was this: only by testing the limits of something that has so much promise, and likewise generates so much uneasiness, can you begin to understand its potential, and its pitfalls, and figure out what to do about it all. Future pastors at the college learn to counsel parishioners using an AI program that mimics real people with real problems, and students have online chats with historical Christian figures. The entirely AI-generated course last fall was simply an experiment, according to Robbins. It's not about replacing professors, she said, but examining ways that AI can help. An AI program was fed reams of information about the school, including its history and teaching style. The six students who took part were volunteers and their tuition for the course was covered by the college. Rev. John Campbell, the college's director of technology for education, and Jodi Porter, the school's director of education for ministry innovation, gave a keynote address in December at an Atlantic universities teaching conference about using AI in the classroom. "One professor, of course, really didn't like the idea of an AI marking the assignments," Campbell said. "Well, you know, a first-year English professor put up her hand and said, 'I have 300 students and I would love to have some sort of tool to help give some sort of personalized feedback to these students.'" Joel Murphy, a "futurist" at Acadia Divinity who researches trends, said he believes AI will have a greater impact than the internet, and the implications for faith are profound, with people creating a "self-curated spirituality." There are benefits to self-curation, he said. But the danger, he said, is that so much is left to a person's own whims, with AI tuned to give us what we want, not push back or question. "I think it's going to create isolation, further isolation," he said. "At the centre, I think, of most faith movements is community, belonging, relationship — that can be lost in this self-curated experience." Robbins said she shares the same concerns. But she said she believes the church has a unique place in "what has become a very artificial world," a hub for people when they finally step away from their phones and their "existential questions come crashing in." The work at Acadia Divinity is also a matter of preparing pastors for a new world. For instance, how to talk about grief to a parishioner who is frantically uploading every video they have of a terminally ill loved one so they can converse with an AI avatar after they die. "This is not science fiction, this is happening now," Campbell said. "That's always the dangerous side, and so some of what we're doing is to help people understand what's there and to prepare them to be able to function and minister in the midst of that." But from the point of view of education, Acadia Divinity professors see some clear advantages. Glen Berry, the chair of pastoral psychology, deploys an AI program so students can practise counselling skills in life-like conversations. In his view, it beats pairing up students and getting one to act the part of a troubled parishioner seeking help. There's numerous scenarios: a grieving widower, a medical student with obsessive-compulsive disorder, a burnt-out pastor, or people who are quick to anger and take offence, sound worried or upset. At the end, it spits out a transcript Berry can review. Melody Maxwell, an associate professor of Christian history, last term used an AI chatbot that allows students to ask questions of historical Christian figures. It helps build "historical empathy," an understanding of the feelings and motivations of people in the context of their time periods. With a couple of clicks of a computer mouse, Robbins's AI-generated avatar can switch between 80 different languages, some quite convincingly. "We're concerned about equipping the church globally, not for our own strengthening, but for the strengthening of the church worldwide," Robbins said. "It would be amazing if we could offer theological education to the 90 per cent of pastors in the developing world, for example, who have no access to theological education. Suddenly there's an opportunity to serve." As for the AI-generated course last fall, the reviews were mixed. The students agreed the "learning outcomes" were met, and they liked the near-instantaneous feedback.
Yahoo
2 days ago
- Business
- Yahoo
5 ethical standards you should expect from your financial advisor
Key takeaways Financial advisors are not all regulated in the same way. Investment advisors have different regulatory standards to meet than financial planners, insurance agents and registered financial professionals. Some financial advisors are fiduciaries, which means that they are legally required to put their clients' interests first. But others are not and may earn commission for recommending certain products to their clients. FINRA's BrokerCheck tool, state securities regulators and the SEC's Investment Adviser Public Disclosure tool can all be used to help you find an ethical advisor. Working with a financial advisor involves a lot of trust. You're sharing information about one of the most personal aspects of your life — your money — and relying on another person's guidance to help you achieve your financial goals. Ethics are a set of standards that professionals must uphold when they conduct business in order to maintain a sense of trust and confidence with clients. Unethical behavior, like failing to disclose conflicts of interest, erodes that trust, damaging the industry's reputation and ultimately harming clients. Thankfully, regulatory standards and practices are in place to help keep consumers safe. Compare advisors: Bankrate's list of the best financial advisors 5 ethical standards you should expect from a financial advisor Ethical financial advisors put their client's interests first, hold respected professional designation and don't earn commission for recommending certain products. Here are a few other examples of financial advisor ethics. 1. Compensated with fees, not commission Financial advisors don't perform their services as an act of charity. If they're working for you, they're getting paid somehow, so it's important to understand how they're compensated. Advisors generally get compensated in one of two ways: commission-based or fee-only. Fee-only fiduciaries have a higher ethical standard, and here's why: Commission-based financial advisors get paid by commissions on financial transactions or products. So the more they sell, the more money they get. Most work for financial firms or insurance companies. Most importantly, commission-based advisors don't have to be fiduciaries, so they don't have a legal obligation to work in their client's best interest. Their primary duty is to their employer, not you. In contrast, fee-based advisors uphold a fiduciary duty. They can't sell you an investment product that goes against your needs, so you can trust that their advice is truly unbiased. These professionals are usually compensated through a retainer fee, a flat hourly rate or a percentage of your assets under management. You should always feel comfortable asking questions about how and how much your adviser is getting paid. And if they quote you a fee based on a percentage of your assets, make sure you understand what that translates to in dollars. 2. Clean professional record This might sound obvious, but you should conduct a Google search of any prospective financial professional to see if they have a criminal record. Look for any news articles about past issues or lawsuits. If you suspect your advisor of fraudulent activity, such as making trades in your account you didn't authorize, ask your advisor about it, or speak with the firm's branch manager or compliance department. If you lost money or there was an unauthorized trade made in your account, you should file a written complaint with FINRA or the SEC. Get started: Match with an advisor who can help you achieve your financial goals 3. Discloses conflicts of interest A conflict of interest arises when an advisor has a personal, business or financial interest that could interfere with their advice. A common example is when an advisor makes money from equity product sales and receives commission from the sale. Financial advisors are required to disclose any potential conflicts of interest, but some disclosures can be dense with legalese and difficult to read. A good advisor will go over the disclosure with you. They should be open about any potential conflicts of interest and happy to answer any questions you have. To reduce your exposure to potential conflicts of interest, seek out a fee-only financial advisor. 4. Lack of pressure An ethical financial advisor should spend time getting to know you, your goals and your risk tolerance before recommending any investments. Steer clear of any financial advisor who pressures you to invest quickly or pushes you toward a risky investment that doesn't meet your needs. High-pressure sales tactics are a telltale sign of bad actors and fraudsters. 5. Good communication style Just because an advisor is easy to talk to doesn't mean they'll act ethically. But good communication is a key part of a strong client-advisor relationship. If an advisor is defensive or uses so much industry jargon that it's difficult to understand what they're saying, that's a red flag. Likewise, if you can never get in touch with your advisor or they insist on communicating outside of an advisory firm's official channels, such as company email, steer clear. How is your financial advisor regulated? Financial advisors are primarily regulated by two organizations: the Securities and Exchange Commission (SEC) and/or the Financial Industry Regulatory Authority (FINRA). Here are some common types of financial advisors provide guidance about stocks and other securities. They're regulated by the SEC or state securities financial professionals buy and sell securities for their clients. They're regulated by FINRA and the planners provide a range of services, so their regulation and licensing depends on the services they offer. For example, a financial planner who's also an investment advisor is regulated by the SEC or by the state where the adviser does agents sell life, health and home insurance policies as well as other insurance products, such as annuities. They're regulated by state insurance commissions. The SEC regulates investment advisors who manage $100 million or more in client assets, while state regulators oversee investment advisors who manage less than $100 million. SEC-regulated advisors are bound by the fiduciary standard, which requires them to act in their clients' best interests. Meanwhile, FINRA regulates broker-dealers, who buy or sell securities on behalf of customers. This government-authorized non-profit ensures that anyone who sells a securities product (such as stocks) has been tested, qualified and licensed. However, broker-dealers are not held to the fiduciary standard. Together, these financial regulators oversee the registration, examination, compliance and discipline of broker-dealer and investment advisory firms, as well as their employees. Well-known professional designations Not all financial advisors are required to register with the SEC. In fact, financial planners don't have their own specific regulator. However, a financial advisor can be held to a high ethical standard through their professional designation. A certified financial planner, for example, must uphold the fiduciary standard. Issued by the Certified Financial Planner Board of Standards, the CFP certification requires at least three years of experience, imposes rigorous standards through exams and coursework and has a disciplinary process for CFPs who fail to follow the Board's code of ethics. Just because an advisor has initials after their name doesn't mean they're more ethical or qualified than another advisor who doesn't. Not all financial designations are created equal. Some designations require little, if any, training or experience to obtain. If you're unsure about a potential advisor's designation, use FINRA's Professional Designations lookup tool to check. While designations serve as an important trust signal, they shouldn't be the only criteria you consider when looking for a financial advisor. How to find an ethical financial advisor Technically, anyone can call themselves a financial advisor. You'll need to do some research to ensure an advisor follows high ethical standards. A good place to start is FINRA's BrokerCheck tool. Here, you can research professionals who sell securities, provide advice or both. It offers an overview of an individual's work history along with their firm's history. You might also want to check your state securities regulator and the SEC's Investment Adviser Public Disclosure tool. There are several questions you should ask a potential financial advisor, but here are a few to help you hone in on their ethical standards: Who are you registered with and in what capacity? Do you hold any other professional credentials or designations? Do you have any disciplinary actions or customer complaints? If so, please explain them. (Pro tip: Compare their responses to information on BrokerCheck and other third-party sources.) What type of investment products and services do you offer? Are there any products or services you don't offer? Why? How do you get paid? Do you receive commissions on products I buy or sell? Learn more: How to choose the right financial advisor for you Bottom line Selecting the right financial advisor is no small feat — it's an important decision that hinges on trust. Upholding ethical standards is the bedrock of this trust. While there will always be bad actors in any industry, there are safeguards in place to protect consumers against unethical financial advisors. Checking an advisor's credentials on trusted third-party sites, like FINRA, and conducting your own research will help you protect yourself from bad actors. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Science
- Yahoo
China issues ethical guidelines for autonomous driving technology
BEIJING (Reuters) -China's science and technology ministry on Wednesday issued ethical guidelines for autonomous driving technology, requiring developers to prioritise user safety and refrain from spreading false information when publishing research results. Algorithms and models related to autonomous driving technology should be recorded and made accessible while data collection in the development and application of the technology should be limited to the scope required to achieve driving functions, the guidelines say. The guidelines also specify which party - the human driver or the driving system - is liable when driving with such systems, based on how advanced the system is.
