Type:Notice
Citation:86 FR 7135
Reading Time:about 2 minutes
The Nasdaq Stock Market LLC submitted a proposed rule change to the Securities and Exchange Commission (SEC) seeking to introduce new listing rules focused on board diversity. This proposal was initially shared for public comment in December 2020. By law, the SEC has a specific timeframe in which to evaluate such proposals. Due to the need for more time to assess the rule change and review public comments, the SEC has extended its decision deadline to March 11, 2021.
Simple Explanation
Nasdaq wants to make new rules about having different types of people on company boards, like different genders and backgrounds. The people in charge of checking these rules, the SEC, need more time to think about it, so they're waiting until March 11, 2021, before deciding.