A Federal Court struck down the rules that have required thousands of public companies that trade on Nasdaq Inc. exchanges to have at least one woman, minority, or LGBTQ+ member on their boards since 2023, unless they disclose why they can’t comply. Companies also have had to report director diversity information annually. The regulations are “far removed” from the 1934 Securities Exchange Act, which requires the SEC to approve stock exchange rules that promote “just and equitable principles of trade,” Judge Andrew Oldham wrote in an opinion for the majority.

In the world at large, people naturally view the original rule and this decision through the awful lens of politics – pick your poison.

We are merely simple people trying to make money. The Nasdaq rules have done nothing for shareholders and they insult the qualifications of actual and potential board members. In a world of Fartcoin and HawkTuah coins, the SEC might consider paying attention to its Congressionally mandated mission of investor protection. Just sayin.