Securities,
Corporate
Aug. 18, 2021
SEC approves Nasdaq’s disclosure-based approach to improving diversity
The new rule changes pertaining to board diversity, which require that companies “publicly disclose board-level diversity statistics using a standardized template” and “have or explain why they do not have at least two diverse directors.”
Virginia F. Milstead
Partner
Skadden, Arps, Slate, Meagher & Flom LLP
Phone: (213) 687-5000
Email: virginia.milstead@skadden.com
Virginia has a broad commercial litigation practice, including the representation of foreign-domiciled clients, with a particular emphasis on securities and merger litigation.
On Aug. 6, the Securities and Exchange Commission approved Nasdaq Stock Market LLC’s proposed listing rule changes pertaining to board diversity, which require that companies “publicly disclose board-level diversity statistics using a standardized template” and “have or explain why they do not have at least two diverse directors” (consisting of at least one director who self-identifies as female and one who self-identifies as an underrepresented minority or LGBTQ+). C...
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