Betterment is facing regulatory scrutiny for its Brexit trading delay decision, and the outcome of the case will set an example for the rest of the digital advice industry, observers say.

Just as the New York-based robo adviser announced it was rebooting its RIA offering as Betterment for Advisors last Wednesday, it received a letter from the Massachusetts’ securities regulator which outlined "serious concerns regarding the inconsistent manner," in how it communicated the trading suspension in June.

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