Promoting Diversity Or Harmful Virtue Signaling? How A Diversity Mandate Could Backfire

The Free Enterprise Project's Stefan Padfield draws attention to a proposed rule that the NASDAQ stock exchange could impose on listed companies regarding board diversity. The rule, according to Padfield, is that all companies would have to either disclose the demographic makeup of their boards of directors or publicly state why they haven't disclosed that information. In addition to the regulation, Padfield argues that the rule would not be effective in increasing diversity since it specifically allows for self-identification as meeting the goals. In other words, a man who claims to be ("self identifies") a woman would count the same as an actual, biological woman. The Free Enterprise Project has filed a lawsuit against the Securities and Exchange Commission over implementation of the rule. https://nationalcenter.org/ncppr/2023/11/01/stefan-padfield-nasdaqs-absurd-diversity-rule-will-replace-women-with-men-who-identify-as-women-to-achieve-equality-for-women/