SEC Sued over Nasdaq's 'Diversity' Rule for Race, Gender, LGBTQ Quotas on Boards

SEC Sued over Nasdaq's 'Diversity' Rule for Race, Gender, LGBTQ Quotas on Boards


The National Center for Public Policy Research, a conservative think tank advocating free market policies, sued the U.S. Securities and Exchange Commission (SEC) on Monday after it approved the Nasdaq’s controversial “diversity” rule.

As the Associated Press reported recently:

The new policy — the first of its kind for a U.S. securities exchange — requires 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 requires companies to publicly disclose statistics on the demographic composition of their boards.

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Nasdaq-listed companies with five or fewer board members, however, will only be required have

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