From www.aicd.com.au: The Court of Appeal for the Fifth Circuit in the U.S. vacated the SEC’s approval of Nasdaq rules requiring board diversity, questioning the SEC’s authority and the relationship of the rules to the Exchange Act.

This decision coincided with ongoing consultations by the ASX Corporate Governance Council regarding their own recommendations on board diversity.

The emphasis on diversity extends beyond gender to include various dimensions such as ethnicity, sexual orientation, and disability, reflecting a broader understanding of diversity in board composition.