Protecting Innovation in Investment Act

S 3735, the Protecting Innovation in Investment Act, blocks the Securities and Exchange Commission (SEC) from finalizing, implementing, or enforcing a specific proposed rule about conflicts of interest involving predictive data analytics. The bill targets the SEC's August 2023 proposed rule (88 Fed. Reg. 53960) and any substantially similar rule, preventing it from becoming law. This directly affects broker-dealers and investment advisers who would have been subject to the rule's requirements. The bill does not create new regulations but stops the SEC from moving forward with this specific proposal. It focuses solely on halting the enforcement of the named rule, with no additional policy changes.