SEC

 

                                                               SEC

 Nasdaq is calling for all its listed companies to appoint within the next four years no fewer than two “diverse” directors: at least one woman, and one person from an underrepresented racial or ethnic group, or someone who identifies as LGBTQ. Any company failing this requirement would be obligated to explain why. This new standard now faces approval from the Securities and Exchange Commission. 

The SEC's decision should be fascinating because the SEC is tasked with safeguarding the investor. There may be other, peripheral factors in their decisions but the investor is their primary responsibility. Including a social engineering component to their job complicates their job tremendously--if they take it seriously.