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SEC, Congress seek better diversity disclosures

Joe Mont | February 20, 2019

California’s state legislature recently passed SB-826, a bill mandating that companies headquartered in the state include female directors on their boards. Signed into law on Sept. 30, it will require that, by the end of 2019, each publicly traded company based in California must include one woman on their board of directors; the quota increases by the end of 2021 based on company size. 

While that first-in-the-nation initiative battles back legal challenges, new efforts are also afoot with the same, or greater, diversity goals in mind.

At the Securities and Exchange Commission, its Division of Corporation Finance, earlier this month, posted a new Compliance & Disclosure Interpretation regarding diversity disclosures. It discusses the Division's interpretations of...

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