Finance
The U.S. Securities and Exchange Commission (SEC) is planning to propose repealing Rule 14a-8, which governs the shareholder proposal process. The Office of Information and Regulatory Affairs under the White House Office of Management and Budget (OMB) received the relevant proposal last Friday, which also involves amendments to Rule 14a-8 (proxy voting rules). This move continues SEC Chairman Paul Atkins' stated commitment to a "comprehensive review" of rules, following the SEC's earlier announcement that it would stop responding to companies' no-action letter requests. Investor advocacy groups oppose this, arguing that the repeal would undermine the long-standing balance between shareholders and companies.
JPMorgan Chase announced a major housing investment plan, committing $750 billion by 2035 to build and preserve 1 million affordable homes and support 500,000 customers in buying homes, including 200,000 first-time buyers. The plan is part of its 'American Dream Initiative,' covering areas such as housing, business growth, and financial health.