Nasdaq’s new board diversity rules—the shape of things to come?

Published on: Aug 20, 2021

On August 6, the Securities and Exchange Commission approved Nasdaq’s new board diversity rules. After the rules are phased in, most operating companies listed on the Nasdaq Stock Market will be required to: publish annual board-level diversity characteristics using a standardized template and ensure that the information is searchable; and have (or explain why they do not have) at least one director who self-identifies as female and at least one director who self-identifies as an underrepresented minority (i.e., Black or African American, Hispanic or Latinx, Asian, Native American or Alaska Native, Native Hawaiian or Pacific Islander, or two or more races or ethnicities) or LGBTQ+.


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