S. 3735 · 118th Congress
Protecting Innovation in Investment Act
- Stage
- In committee
- Sponsor
- Ted Cruz
- Introduced
- 2024-02-06
- Latest action
- 2024-02-06 · Introduced in Senate
Summary
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.