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NASDAQ to Require at Least One Woman AND One Minority or LGBTQ Person on Company Boards

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First published at 17:34 UTC on December 1st, 2020.

#nasdaq
#diversity
#stock-market

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NASDAQ is now pushing for SEC approval of a rule that would require public companies on its exchange to have at least one woman director and one "diverse" director - meaning a director that self-identifies as an underrepresented minority o…

The exchange is also pushing for its more than 3,000 companies to be forced to report "data on board diversity" or "face consequences".

NASDAQ wants to impose these rules on private companies as well. Adena Friedman, Nasdaq’s CEO, said: "The ideal outcome would be for the S.E.C. to take a role here. They could actually apply it to public and private companies because they oversee the private equity industry as well."

Yet there's no requirement that Board Members need to know how to read financial statements.

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