[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3735 Introduced in Senate (IS)]

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118th CONGRESS
  2d Session
                                S. 3735

  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.


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                   IN THE SENATE OF THE UNITED STATES

                            February 6, 2024

  Mr. Cruz (for himself, Mr. Hagerty, and Mr. Rounds) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

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                                 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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting Innovation in Investment 
Act''.

SEC. 2. PROHIBITION AGAINST 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.

    The Securities and Exchange Commission may not finalize, implement, 
or enforce--
            (1) the proposed rule of the Commission entitled 
        ``Conflicts of Interest Associated With the Use of Predictive 
        Data Analytics by Broker-Dealers and Investment Advisers'' (88 
        Fed. Reg. 53960 (August 9, 2023)); or
            (2) any rule that is substantially similar to the rule 
        described in paragraph (1).
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