> The proposed policy — which was to be the first of its kind for a U.S. securities exchange — would have required most of the nearly 3,000 companies listed on Nasdaq to have at least one woman on their board of directors, along with one person from a racial minority or who identifies as gay, lesbian, bisexual, transgender or queer. It also would have required companies to publicly disclose statistics on the demographic composition of their boards.
> “We maintain that the rule simplified and standardized disclosure requirements to the benefit of both corporates and investors,” Nasdaq said in a statement. “That said, we respect the Court’s decision and do not intend to seek further review.”
> The SEC also weighed in.
> “We’re reviewing the decision and will determine next steps as appropriate,” an SEC spokesperson said in a statement.
1 Comment
> The proposed policy — which was to be the first of its kind for a U.S. securities exchange — would have required most of the nearly 3,000 companies listed on Nasdaq to have at least one woman on their board of directors, along with one person from a racial minority or who identifies as gay, lesbian, bisexual, transgender or queer. It also would have required companies to publicly disclose statistics on the demographic composition of their boards.
> “We maintain that the rule simplified and standardized disclosure requirements to the benefit of both corporates and investors,” Nasdaq said in a statement. “That said, we respect the Court’s decision and do not intend to seek further review.”
> The SEC also weighed in.
> “We’re reviewing the decision and will determine next steps as appropriate,” an SEC spokesperson said in a statement.