After receiving extensive outside pressure from a variety of sources, include Senate Republicans, the SEC announced last week that it is deferring its decision on whether to approve a Nasdaq proposal to require "diverse" members on companies' boards. The SEC is also simultaneously awaiting the confirmation of its new Chairman, Gary Gensler, which is still pending before the Senate. It seems unlikely that the Commission will decide on the rule before the new Chairman is installed. We will continue to follow for additional updates.
SEC Punts NASDAQ Diversity Decision
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
