Counselor706
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SourceNasdaq wants to require listed companies to include on their boards at least one woman and one person from an underrepresented racial minority or someone who is lesbian, gay, bisexual, transgender, gender-queer, or identifies with the myriad of sexual identities activists include under the rubric of “LGBTQ+.”
Nasdaq, the second-largest U.S. stock exchange, filed a proposal with the Securities and Exchange Commission that would mandate listed companies to have a minimum of two “diverse directors,” including one who “self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ+.”
The practice of requiring a quota for preferred sexual orientations and racial groups could run afoul of U.S. laws prohibiting discrimination based on race and sex.
The quota rule would require an massive churn of corporate boards. According to Nasdaq, over the past six months, more than three-quarters of its listed companies would have fallen short of the woke quotas.