IASJ’s Statement on the SEC’s Proposal to Rescind Rule 14a-8
September 16, 2026
Today’s proposal by the SEC to rescind Rule 14a-8 (the shareholder proposal rule) marks a historic, though not surprising, attempt to fundamentally undermine shareholder rights. IASJ strongly condemns this maneuver, which risks rolling back over 80 years of precedent and undercuts faith-based investor’s constitutionally-protected rights to invest in a manner aligned with their faith values. Furthermore, this proposal contradicts the SEC’s stated mission “to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.”
For over 50 years, IASJ (formerly known as the Tri-State Coalition for Responsible Investment) has represented faith-based investors who have leveraged their holdings in companies to promote human rights, climate justice, racial equity, and the common good. Faith-based investors, including those whom IASJ represents, believe their investments should be made in accordance with the principles of their faiths – principles that uphold human dignity and care for creation.
As such, rescinding the shareholder proposal rule would greatly undermine shareholder rights and significantly impede faith-based investors’ ability to invest in and engage with companies in ways aligned with their faith, which could violate the Free Exercise Clause of the First Amendment.
Investor Advocates for Social Justice (IASJ) emphatically opposes this SEC action, and we will vigorously defend the shareholder proposal rule through the various channels at our disposal.
As described in our previous statement, we will continue filing shareholder proposals when we believe our dialogue approach is unfruitful. We will continue to engage with companies on the importance of the shareholder proposal process, for both investors and companies. And, we will continue to call on the SEC to carry out its stated mission “to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.”
September 10, 2026
Investor Advocates for Social Justice (IASJ) vehemently opposes the SEC’s announcement of its intent to rescind the shareholder proposal rule, breaking with over 80 years of precedent.
For over 50 years, IASJ (formerly known as the Tri-State Coalition for Responsible Investment) has represented faith-based investors who have leveraged their holdings in companies to promote human rights, climate justice, racial equity, and the common good. Faith-based investors, including those whom IASJ represents, believe their investments should be made in accordance with the principles of their faiths – principles that uphold human dignity and care for creation.
Shareholder proposals have been a pivotal tool faith-based investors have utilized over many decades to encourage companies to respect human rights and the planet, to improve corporate governance practices, and to ensure long-term shareholder value is prioritized over short-term gains. Rescinding the shareholder proposal rule would effectively cut off a vital channel through which many faith-based investors put their faith into practice in their stewardship. We believe rescinding the shareholder proposal rule would greatly undermine shareholder rights and significantly impede faith-based investors’ ability to invest and engage with companies in a manner aligned with their faith.
IASJ will defend the shareholder proposal rule vigorously. We will continue filing shareholder proposals when we believe our dialogue approach is unfruitful. We will continue to engage with companies on the importance of the shareholder proposal process, for both investors and companies. And, we will continue to call on the SEC to carry out its stated mission “to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.”
