SEC issues diversity assessment report, invites companies to voluntarily submit self-assessments

By R. Jason Howard, J.D.The SEC’s Office of Minority and Women Inclusion, created under Section 342 of the Dodd-Frank Act and responsible for all matters relating to diversity in management, employment, and business activities, has invited SEC regulated entities to voluntarily submit self-assessments on its diversity policies and practices.Diversity assessment report. The OMWI created the diversity assessment report to: (1) help guide a regulated entity’s self-assessment of its diversity policies and practices using the Joint Standards; and (2) provide the regulated entity with a template for submitting diversity assessment information to the OMWI Director at the SEC, as contemplated under the Joint Standards.Joint standards. The Joint Standards were issued by the SEC and five other Federal financial regulatory agencies in June 2015, and “reflect leading policies and practices for advancing workforce and supplier diversity, are intended to be applied in a…

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