Search Results: keywords:"financial services innovation"

  • 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.
    Status:Introduced in Senate
    Words:318

    S. 3735, titled the "Protecting Innovation in Investment Act," aims to stop the Securities and Exchange Commission (SEC) from implementing a proposed rule concerning conflicts of interest in the use of predictive data analytics by broker-dealers and investment advisers. The...

    Simple Explanation

    S. 3735 is a proposed law that tries to stop a group called the SEC from enforcing a rule about using special math tools called "predictive data analytics" to help people who manage money. This law says the SEC can't make or use any rules like this because it might be bad for money managers, but some people worry it could leave people with money unprotected.

  • H. R. 9309 — To provide for regulatory sandboxes that permit certain persons to experiment with artificial intelligence without expectation of enforcement actions.
    Status:Introduced in House
    Words:3,131

    H.R. 9309, titled the "Unleashing AI Innovation in Financial Services Act," aims to allow financial entities to experiment with artificial intelligence projects without fearing enforcement actions. It establishes "regulatory sandboxes" where regulated entities can test AI-driven financial...

    Simple Explanation

    H.R. 9309 is like a safe playground where banks and money companies can try new ways to help people with cool computer ideas without getting in trouble, as long as they play safely and tell others how it goes.

  • H. R. 7440 — To promote innovation in financial services, and for other purposes.
    Status:Introduced in House
    Words:3,710

    H.R. 7440, titled the “Financial Services Innovation Act of 2024,” seeks to boost innovation in financial services by allowing companies to request modifications or waivers of certain regulations if it helps introduce new technologies. The bill mandates the creation of...

    Simple Explanation

    H.R. 7440 is a plan to help new ideas in money services by letting companies ask for special rules to try out new technology, and it creates special groups to make sure everything stays fair and safe for people.

  • H. R. 7440 — To promote innovation in financial services, and for other purposes.
    Status:Reported in House
    Words:3,790

    H.R. 7440, known as the “Financial Services Innovation Act of 2024,” aims to encourage the growth of new financial products and services through technology, by establishing Financial Services Innovation Offices (FSIO) within federal agencies. These FSIOs will identify and potentially modify...

    Simple Explanation

    The bill wants to make it easier for new and cool money ideas to happen by creating special offices to help with rules and getting the right people to talk and decide if some rules can be changed to make things more fun for everyone using money.