{"id":616349,"date":"2021-08-06T16:06:36","date_gmt":"2021-08-06T20:06:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=616349"},"modified":"2021-08-06T16:06:40","modified_gmt":"2021-08-06T20:06:40","slug":"sec-greenlights-stock-exchanges-race-gender-lgbtq-diversity-mandate-for-corporate-boards","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-greenlights-stock-exchanges-race-gender-lgbtq-diversity-mandate-for-corporate-boards\/","title":{"rendered":"SEC Greenlights Stock Exchange\u2019s Race, Gender, LGBTQ+ Diversity Mandate For Corporate Boards"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsec-greenlights-stock-exchanges-race-gender-lgbtq-diversity-mandate-for-corporate-boards%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=616349&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/08\/GettyImages-1317370474-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Companies listed on Nasdaq\u2019s stock exchange will have to comply with new diversity mandates for their top leadership.<\/span><\/p>\n<p><span>In December, Nasdaq filed a <\/span><a href=\"https:\/\/www.nasdaq.com\/press-release\/nasdaq-to-advance-diversity-through-new-proposed-listing-requirements-2020-12-01\"><span>proposal<\/span><\/a><span> with the Securities and Exchange Commission to create new listing rules that would \u201crequire all companies listed on Nasdaq\u2019s U.S. exchange to publicly disclose consistent, transparent diversity statistics regarding their board of directors.\u201d&nbsp;<\/span><\/p>\n<p><span>Companies must have \u2014 or \u201cexplain why they do not have\u201d \u2014 at least two diverse directors, including one who \u201cself-identifies\u201d as female and one who self-identifies as either an underrepresented minority or \u201cLGBTQ+.\u201d Foreign companies and smaller firms would have \u201cadditional flexibility in satisfying this requirement\u201d by including two female directors.<\/span><\/p>\n<p><span>On Friday afternoon, the SEC affirmed Nasdaq\u2019s new regulations.<\/span><\/p>\n<p><span>\u201cThese rules will allow investors to gain a better understanding of Nasdaq-listed companies\u2019 approach to board diversity, while ensuring that those companies have the flexibility to make decisions that best serve their shareholders,\u201d wrote SEC Chairman Gary Gensler in a <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/08\/06\/sec-approves-nasdaqs-plan-to-boost-diversity-on-corporate-boards.html\"><span>statement<\/span><\/a><span>. \u201cThese rules reflect calls from investors for greater transparency about the people who lead public companies, and a broad cross-section of commenters supported the proposed board diversity disclosure rule.\u201d<\/span><\/p>\n<p><span>Sen. Pat Toomey (R-PA) \u2014 the Ranking Member of the Senate Banking, Housing and Urban Affairs Committee \u2014 was by no means pleased with the new rules.<\/span><\/p>\n<p><span>\u201cCorporate board rooms, like all organizations, can benefit from a diversity of perspectives, but NASDAQ\u2019s one-size-fits-all quota misses the mark,\u201d he said in a statement emailed to CNBC. \u201cBy defining diversity by race, gender, and sexual orientation, NASDAQ\u2019s mandate will inevitably pressure companies to subordinate crucial factors such as knowledge, experience, and expertise when selecting board members.\u201d<\/span><\/p>\n<p><span>\u201cI\u2019m disappointed Chairman Gensler is turning a financial regulator into a laboratory for progressive social engineering,\u201d he continued.<\/span><\/p>\n<p><span>Many entrepreneurs are likewise worried about American corporations\u2019 drift into \u201cwokeness.\u201d<\/span><\/p>\n<p><span>Vivek Ramaswamy \u2014 the former CEO of biopharmaceutical company Roivant Sciences \u2014 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/the-losers-of-this-game-are-the-american-people-young-medical-entrepreneur-is-defecting-from-leftist-corporate-america\"><span>explained<\/span><\/a><span> that he resigned from his post in January due to frustration over the leftward trend of the American business ecosystem.<\/span><\/p>\n<p><span>\u201cI\u2019m fed up with corporate America\u2019s game of pretending to care about justice in order to make money\u2026 It\u2019s not just ruining companies,\u201d he wrote in a recent op-ed for <a href=\"https:\/\/nypost.com\/2021\/06\/21\/woke-inc-why-im-blowing-whistle-on-how-corporate-america-is-poisoning-society\/\">The New York Post<\/a>. \u201cIt\u2019s polarizing our politics. It\u2019s dividing our country to a breaking point. Worst of all, it\u2019s concentrating the power to determine American values in the hands of a small group of capitalists, rather than in the hands of the American citizenry at large, which is where the dialogue about social values belongs.\u201d<\/span><\/p>\n<p><span>\u201cCorporations win. Woke activists win. Celebrities win. Even the Chinese Communist Party finds a way to win. But the losers of this game are the American people.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.&nbsp;<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Companies listed on Nasdaq\u2019s stock exchange will have to comply with new diversity mandates for their top leadership.In December, Nasdaq filed a proposal with the Securities and Exchange Commission to &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-616349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/616349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=616349"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/616349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=616349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=616349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=616349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}