118 S3735 IS: Protecting Innovation in Investment Act U.S. Senate 2024-02-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II118th CONGRESS2d SessionS. 3735IN THE SENATE OF THE UNITED STATESFebruary 6, 2024Mr. 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 AffairsA BILLTo 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.

1.

Short title

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

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).