NLPC Chairman Peter Flaherty has an op-ed on Real Clear Markets critical of Nasdaq’s proposed “diversity” rule for boards of companies listed on the exchange. From the piece:
If there is merit in diversifying the composition of America’s corporate boards, it’s highly doubtful that Nasdaq’s imperious, paint-by-numbers approach is the best way to achieve it. That’s because, for all of their frantic virtue-signaling on the subject, when Nasdaq speaks of “diversity” what they obviously envision is a group of people with essentially cosmetic differences in race, gender and sexual orientation who will, nonetheless, all think and act in the same way.
Click here to read the entire piece on Real Clear Markets.
Earlier, NLPC Counsel Paul Kamenar argued in a public comment filed in January with the SEC that the diversity rule will impose arbitrary racial and gender quotas without showing a compelling governmental interest, and thus violate the Constitution’s equal protection clause as well as civil rights laws prohibiting discrimination.
Click here to read our public comment.