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To embed, copy and paste the code into your website or blog: Following the lead of California, Illinois and other states, Nasdaq, which is home to some of the largest companies in the world including Amazon, Google and Facebook, may require diversity on the board of directors of those companies. Earlier this month, Nasdaq submitted to the Securities and Exchange Commission (SEC) its proposal to require at least two diverse board members and certain disclosure requirements on the 3,000+ public companies that trade on the Nasdaq exchange. Currently more than 75% of Nasdaq’s listed companies d...

the rule Nasdaq Capital Market the rule Phase-in Period Under the proposed rule, a newly-listed company that was not previously subject to a substantially similar requirement of another national securities exchange would be allowed one year from the date of listing to satisfy the requirements. This “phase-in” period would apply to companies listing in connection with an initial public offering, a direct listing, a transfer from another exchange or the over-the-counter market, or through a business combination with certain acquisition companies (SPACs). Such companies would effective...