Goldman Sachs has repealed a policy requiring IPO clients to include two diverse board members, a decision influenced by a recent federal court ruling regarding Nasdaq's diversity rules. A spokesperson stated that the legal developments prompted a review of their policy. The firm had already taken two companies public that did not fulfill the diversity requirement. Legal experts raised questions about the application of the Nasdaq ruling to Goldman, noting that it did not specifically address the authority of underwriters over their clients' diversity policies.
Goldman Sachs announced the termination of its policy mandating two diverse board members for IPO clients, citing legal obstacles posed by a federal court ruling.
Goldman representatives explained that changes in the legal landscape concerning board diversity led to the policy review and eventual repeal.
Legal experts questioned whether the Nasdaq ruling affects underwriters, noting that the court's decision did not address what conditions underwriters can impose.
Despite the policy change, Goldman Sachs affirmed its belief in the value of diverse boards and encourages its clients to consider diversity.
Collection
[
|
...
]