—The SEC has published its first regulatory agendaunder new chair Paul Atkins, detailing the short and long-term rules updates that the agency plans to make.
The proposals span five key areas, with the first covering cryptocurrency regulations, under which the SEC plans to define clearer rules for issuance, custody, trading and open pathways for exchange listing.
The second concerns deregulation, where the agency says it will streamline compliance, modernize rules and facilitate capital raising. The third area is around shareholder proposals, with the SEC saying it will amend Rule 14a 8 to reduce compliance obstacles for public companies.
The fourth pillar of change will see the undertaking of a Consolidated Audit Trail (CAT) system review. The SEC will seek public input on CAT’s costs, data security and design. Lastly, Atkins will oversee policy shifts specifically to withdraw previous rules under the Biden administration, which have been deemed improperly tailored under new leadership.
In a statement Atkins said that the updated agenda ‘reflects that it is a new day at the [SEC]. The items on the agenda represent the Commission’s renewed focus on supporting innovation, capital formation, market efficiency and investor protection.’
—American automotive and industrial parts distributor Genuine Parts Company has reached an agreement with activist investor Elliott Investment Management to appoint two new directors to its board.
As reported by Reuters (paywall), the dispute has been ongoing since Elliott took up a $1 bn stake in the company and became its largest active shareholder.
Courtney Carruthers – who previously served as president and CEO of TricorBraun, a B2B global packaging distributor, and in executive leadership roles at Grainger – and Matt Carey – who served as chief information officer at Home Depot – will join the board as independent directors.
The news comes as Genuine Parts Company undergoes a strategic and operational review to improve profitability and boost the share price.
—Activist investor HoldCo Asset Management is lobbying for Texas-based regional bank Comerica to sell itself following years of underperformance.
As reported by the Wall Street Journal (paywall), if Comerica does not pursue a sale then HoldCo plans to nominate around five directors to the company’s board sometime in December, should the opportunity arise.
HoldCo, which holds a 1.8 percent stake in Comerica, believes the bank has mismanaged its interest rate exposure and cost structure and would be better off as part of a bigger bank.
Comerica shares have lagged behind the broader index of its bank peers in recent years, declining nearly 30 percent over the past seven years while the broader index has posted gains.
—Broadwood Partners, a majority shareholder of STAAR Surgical, has said it plans to vote against Swiss eyecare firm Alcon’s offer to buy the company for $1.5 bn, stating that the deal undervalues the company.
The decision comes after Broadwood reviewed STARR’s preliminary merger proxy statement. In particular, the investor noted ‘the history of negotiations that was disclosed in the preliminary proxy’ saying that ‘the transaction suffers from multiple process and valuation deficiencies’.
In addition, Broadwood says it is ‘disappointed in the choices that STAAR’s Board of Directors has made under the influence of its current advisers’, the investor said in a statement.
Broadwood is STAAR’s largest shareholder, owning 27.3 percent of its ordinary shares.
—According to the Wall Street Journal, activist investor Elliott Investment Management is pushing PepsiCo to refranchise its business as well as other changes to boost its low share price.
Elliott has also suggested that PepsiCo review its beverage and food offerings and eliminate underperforming products. Additionally, the investor urged PepsiCo to present investors with more detailed plans for improving their performance.
The beverage maker has been in decline after losing market share to its competitors, with PepsiCo’s market value falling to around $200 bn, a roughly 25 percent drop from a peak of $270 bn in May 2023.
Elliott believes the proposed plans could boost the company’s shares by at least 50 percent. It comes after the fund acquired a roughly $4 bn stake in PepsiCo, making it one of the beverage makers’ biggest shareholders.
—Proxy advisory firms Glass Lewis and ISShave made progress in their move to sue Texas over a state law limiting their ability to advise shareholders on diversity, environmental and governance practices.
As reported byReuters, state lawSB 2337was signed by Texas governor Greg Abbott in June 2025 and comes into effect September 1.
On August 29, US District Judge Alan Albright in Austin, Texas issued preliminary injunctions against the state’s Republican attorney General Ken Paxton, after Glass Lewis and ISS filed a lawsuit against the state.
The law was to take effect on September 1, but has been halted while the litigation proceeds.
—ISS last week asked TaskUsinvestors to reject a proposal by Blackstone and the outsourcing company’s co-founders to take it private.
According to the recommendation as seen by Reuters, ISS stated ‘there does not appear to be a compelling reason to accept the terms’.
ISS noted that while the $16.50-per-share offer from Blackstone and co-founders Bryce Maddock and Jaspar Weir in May may have initially represented a premium, the unaffected price no longer serves as the most suitable reference point for determining the company’s value.