A bill to prohibit the Securities and Exchange Commission from finalizing, implementing, or enforcing a proposed rule with respect to conflicts of interest associated with the use of predictive data analytics by broker-dealers and investment advisers, and for other purposes.
Protecting Innovation in Investment Act
This bill prohibits the Securities and Exchange Commission from finalizing the proposed rule titled Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers and published on August 9, 2023. The proposed rule requires broker-dealers and investment advisers to eliminate or neutralize conflicts of interests stemming from the use of technology (e.g., predictive data analytics or artificial intelligence) in communications with investors.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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