The SEC has said that JPMorgan (JPM), Bank of America (BAC) and Morgan Stanley (MS), as well as...

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

The SEC has said that JPMorgan (JPM), Bank of America (BAC) and Morgan Stanley (MS), as well as Citigroup (C), don't have to hold votes at their annual meetings on motions that would require them to consider "extraordinary transactions," including being broken up. The proposals came from labor and religious groups, with a motion from the AFL-CIO, for example, saying that JPM's $6B whaling loss had shown that it had become too big to manage.