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US representatives applaud SEC predictive data analytics proposal, suggest clarifications

( April 26, 2024, 22:31 GMT | Official Statement) -- MLex Summary: US Democratic representatives Brad Sherman and Bill Foster filed a comment encouraging the Securities and Exchange Commission to clarify how its predictive data analytics proposal would work in practice, including how it would incorporate related existing rules, guidance, and standards regarding the use of investment analysis tools. They recommended it do so by clarifying how the proposal applies to mutually beneficial applications of PDA, and by providing a detailed description of how such conflicts should be neutralized to ensure investors are protected from conflicts of interest. The proposal would require broker-dealers and investment advisers to take certain steps to address conflicts of interest associated with their use of PDA and similar technologies to interact with investors.See document below. ...

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