From CNBC.com…
The Securities and Exchange Commission on Friday approved new Nasdaq rules that will require companies that list shares on its exchanges to meet certain race and gender targets.
The announcement by Wall Street’s top regulator marks the end of a monthslong debate at the SEC on whether to approve novel changes at one of the globe’s largest market exchange operators.
The rules will ensure company boards meet gender and racial diversity requirements or force firms to explain in writing why they have failed to do so.
Nasdaq’s goal for most U.S. companies is to have at least one woman director in addition to another board member who self-identifies as a member of a racial minority or the LGBTQ community.
