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.
About This Bill
Committee
Latest Action · February 6, 2024
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
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