The Protecting Innovation in Investment Act will block the SEC from pursuing its war on technology
WASHINGTON—United States Senators Bill Hagerty (R-TN), a member of the Senate Banking Committee, and Ted Cruz (R-TX) today introduced the Protecting Innovation in Investment Act, legislation to protect Americans’ affordable access to financial markets.
In July 2023, the U.S. Securities and Exchange Commission proposed a wide-ranging rule that would strongly deter the use of technology in investing, just as innovation has opened the door to more accessible and affordable options for Americans. The rule is expected to be finalized this year. The Senators’ legislation would protect innovation in investment by preventing the rule from going into effect.
“American consumers will ultimately bear the cost of yet another SEC attempt to overregulate financial…
