Lawmakers press SEC on broker-dealer ‘conflicts’ rule related to data analytics

A Democratic lawmaker added his voice to the GOP chorus of criticism over an artificial intelligence-related rulemaking at the Securities and Exchange Commission, while suggesting the SEC is looking for ways to retool the proposal, during a recent House Financial Services subcommittee hearing.

“[On] the SEC’s predictive data analytics rule, I agree with the SEC’s rationale for eliminating investor harm resulting from AI,” Rep. Wiley Nickel (D-NC) said at a March 20 capital markets subcommittee hearing on SEC “over-reach”...