SEC Approves Nasdaq’s Proposal to Improve Transparency Around Diversity on Boards

Nasdaq’s push for greater disclosure of corporate diversity for companies listed on its exchange won approval from the Securities and Exchange Commission Friday.

The newly approved rules require Nasdaq-listed companies to meet certain race and gender targets for their board members and publish diversity statistics. For most U.S. companies, that means having at least one director who self-identifies as female and another who self-identifies as either a racial minority or member of the LGBTQ community. If companies don’t meet…