SEC Delays Decision On Nasdaq's Diversity Proposal
By Al Barbarino (March 10, 2021, 10:15 PM EST) -- The U.S. Securities and Exchange Commission said Wednesday it is deferring its decision on whether to approve or toss a controversial proposal from the Nasdaq stock exchange to require "diverse" members on companies' boards, urging additional comments from the public on the matter.
The SEC postponed deciding on the proposal after Nasdaq offered revisions on Feb. 26, following criticism from some lawmakers who argued that the stock exchange has no place acting as "an arbitrator of social policy."
Nasdaq first put forth a proposal in early December that would require companies to publicly disclose diversity information about their board members and push them...
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