SEC Approves Nasdaq Diversity Proposal By April Hall.

• Author: Hall, April
• Position: BOARDBOOK

The U.S. Securities and Exchange Commission has approved Nasdaq's proposal to hold companies listed on the exchange accountable for board diversity.

The new rule, proposed in December, is the first of its kind in the United States. It requires boards of U.S.-based Nasdaq-listed companies to have at least one female director and one director who self-identifies as a member of an underrepresented community (such as directors of color and LGBTQ+). International and smaller Nasdaq-listed companies will need to have two women...