Nasdaq can keep SEC-endorsed rules intended to expand representation of women and minorities on the boards of its listed companies, a three-judge panel of the Fifth Circuit ruled in a conservative challenge to the regulations.
The Securities and Exchange Commission had the authority in 2021 to approve the rules that are starting to take effect this year, Judges Carl Stewart, James Dennis and Stephen Higginson of the US Court of Appeals for the Fifth Circuit ruled Wednesday. The decision came after the Supreme Court limited using race in college admissions in June.
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