`This is Not a Good Rule.' Senator Says SEC's Broker AI Plan Must be Reworked

Also, earned wage access bill gets no support from House Financial Service's Democrats; House China panel spotlights BlackRock investments

Sen. Mike Rounds today warned that lawmakers are prepared to overturn the SEC’s plan to regulate financial advisers’ use of complex technologies like artificial intelligence. But the Republican also emphasized that congressional action may not be necessary – an observation that may hearten the effort’s numerous critics.

The proposal “was controversial in…