5th Circuit Rules SEC Can Enact Nasdaq Rule Requiring Disclosure Of Board Makeup

( November 3, 2023, 4:25 PM EDT) -- NEW ORLEANS — The Securities and Exchange Commission has the right to approve a rule implemented by the Nasdaq Stock Market LLC that requires companies listed on the exchange to publicly disclose information about the race and gender identity of their board members, a panel of the Fifth Circuit U.S. Court of Appeals found, denying a petition from two entities who argued that Nasdaq is a state actor bound by the U.S. Constitution....