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.