{"database": "press", "table": "releases", "rows": [["https://wagner.house.gov/media-center/press-releases/wagner-hill-hagerty-rounds-slam-secs-predictive-data-proposal-demand", "Wagner, Hill, Hagerty, Rounds Slam SEC\u2019s Predictive Data Proposal, Demand Answers to Disastrous Rule", "2023-09-22", "2023", "2023-09", "Republican", "House", "MO", "Ann Wagner", "W000812", "wagner.house.gov", "wagner", "https://wagner.house.gov/media-center/press-releases", "scraper", "Washington, D.C. \u2013 Congresswoman Ann Wagner (R-MO), Chair of the Financial Services Subcommittee on Capital Markets, along with Congressman French Hill (R-AR), Senator Bill Hagerty (R-TN), and Senator Mike Rounds (R-SD) today sent a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler demanding answers on the SEC\u2019s misguided proposal that will harm broker-dealers, investment advisors, and Main Street investors.\n\nThey said: \u201cWhile it is promoted as an investor protection measure, the Proposal\u2019s true intention seems to be rewriting existing and well-functioning SEC regulations, such as Regulation Best Interest (\u201cReg BI\u201d) and the fiduciary standard. This is likely to result in a burdensome, one-size-fits-all approach being imposed on all broker-dealers and investment advisers, irrespective of the technology they utilize. This new, untested standard would apply indiscriminately, whether or not firms provide personalized investment recommendations or advice to their customers\u2026.If the SEC\u2019s goal is to replace Reg BI and the existing fiduciary standard with the Proposal\u2019s heightened \u201cbest interest\u201d standard, it should be transparent and direct about its actions. It should not rely on the recent attention around predictive data analytics or artificial intelligence as a pretext. Furthermore, if the SEC intends to assume the role of a technology regulator, it should seek explicit authority from Congress.\u201d\n\nRead the full letter here.", 1, "2026-03-30T01:40:41Z", "2026-04-08T00:37:48Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://wagner.house.gov/media-center/press-releases/wagner-hill-hagerty-rounds-slam-secs-predictive-data-proposal-demand"], "units": {}, "query_ms": 1.5576677396893501, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}