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ANALYSIS: Nasdaq Proposes Board Diversity Mandate, Disclosures

Dec. 14, 2020, 6:31 PM

The Nasdaq Stock Market LLC filed a proposed change to its listing rules dealing with board diversity with the Securities and Exchange Commission. If the SEC approves the rule changes, most Nasdaq-listed companies would be required to include at least two diverse directors on their boards, or publicly explain the reasons why they have not done so.

The new listing rules would also require most listed companies to disclose transparent and comparable board diversity statistics. Companies could provide any required diversity explanation and the statistical board data on either their website or in their current proxy statements.

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