Virtue signaling permeates American culture. But did you know it’s also in the financial regulatory world? Nasdaq has asked the Securities and Exchange Commission for approval to require listed company’s boards to meet gender, racial, and/or sexual-orientation quotas, according to the Wallstreet Journal.
It would be mandated that each board would need to have at least one woman director and one who is part of a minority or the LGBTQ community.
According to the Wallstreet Journal, there is “no mention of whether directors should know something about the business.”
These proposed mandates seem strange, given the actual purpose of Nasdaq for existing. According to Investopedia: “Nasdaq is a global electronic marketplace for buying and selling securities.”
Requiring corporations to fill board-seats based on gender, race or sexual orientation doesn’t seem to help promote how easy it is for securities to be bought and sold. And, not even caring if these new board members have even the slightest idea about business makes everything even stranger.
But it goes to show you, the woke-movement has no bounds and doesn’t care if it makes any sense.