The Nasdaq plans to ask the Securities and Exchange Commission (SEC) for permission to adopt a new rule that would require all companies on the exchange to have at least one woman and one “diverse” director or else be delisted, according to the New York Times. In this case "diverse" means someone who self-identifies as an underrepresented minority, including members of the LGBTQ community. If the SEC allows the rule's implementation, then companies will have one year to report their board diversity and, if it's not sufficient, two years to bring their membership up to code. Larger companies will need two (one of each) within four years. Those who don't comply could then be delisted.

Should the rule be approved, the companies listed on the Nasdaq will need to scramble, as Nasdaq found that more than 75 percent of its listed companies do not meet these requirements.