Tuesday, February 9, 2010

More Women in the Boardroom: New SEC Rules

I've blogged previously about the Norwegian law mandating representation for women on corporate boards. The Securities and Exchange Commission recently issued new rules requiring disclosure about diversity considerations in appointing directors. These rules come into force on February 28, 2010. They stop well short of the Norwegian idea, but must be regarded as a step in the right direction. Here's more from the SEC press release:
The SEC approved a rule that would require disclosure of whether, and if so how, a nominating committee considers diversity in identifying nominees for director.
If the nominating committee or the board has a policy with regard to the consideration of diversity in identifying director nominees, the final rules require disclosure of how this policy is implemented and how the nominating committee or the board assesses the effectiveness of its policy.
Irish lawmakers must consider similar measures to enhance board diversity.