Mayer Brown’s “The Future Of Board Diversity Disclosures” (which also addresses practices outside the realm of disclosure) recounts the numerous developments since the vacatur of SEC’s approval of Nasdaq’s board diversity disclosure rules, including the Trump administration executive orders, attorney generals’ campaign, proxy advisor reactions, institutional investor policy updates, and anti-DEI shareholder proposals, that have resulted in a very changed environment for companies’ diversity-related practices and disclosures.
The firm suggests companies consider undertaking proactive engagement with shareholders and stakeholders, explanatory disclosure, enhanced board diversity policies, and other actions that support maintaining their diversity objectives, while also understanding and seeking to mitigate the associated legal and regulatory risks.