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Biden Administration Approves Rule Forcing Companies To Hire Minority, LGBTQ+ Executives And Publicly Disclose Diversity

The top U.S. financial regulatory agency approved a rule that forces publicly-traded companies to reveal the diversity of their executive boardroom to investors.

The Securities and Exchange Commission (SEC) voted in favor of the rule, which will apply to all companies traded on the Nasdaq stock exchange, according to the text of the approval released Friday. The rule, first proposed by Nasdaq in December, will also require companies to hire at least one female director and one either minority or LGBTQ+ director to their boards.

Companies may be delisted from the exchange if they fail to comply with the new diversity requirements within four years. Several major corporations including Apple, Google, Amazon, Tesla, JPMorgan Chase, Johnson & Johnson, Disney, Nike and Walmart are traded on the Nasdaq.

“These rules will allow investors to gain a better understanding of Nasdaq-listed companies’ approach to board diversity, while ensuring that those companies have the flexibility to make decisions that best serve their shareholders,” Biden-appointed SEC Chairman Gary Gensler said in a statement after the vote.

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4 thoughts on “Biden Administration Approves Rule Forcing Companies To Hire Minority, LGBTQ+ Executives And Publicly Disclose Diversity”

  1. Affirmative Action (Reverse Discrimination ) Already does that , for over 50 years now , & NOW is time to get
    RID if it & BAN it from America !!!! to have REAL EQUALITY !!!!!!

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