Foley Partner Jessica Lochmann was quoted in an article titled “New SEC Rules, Study Raise Diversity Issues” in the February 23, 2010 issue of Directorship. Lochmann discusses Securities and Exchange Commission rules requiring disclosure from companies’ nominating committees to ensure the committees consider diversity when selecting candidates for board positions. The rule does not define diversity, leaving it open to interpretation. Lochmann notes that it would be difficult for the SEC to go further with this diversity initiative until we see fallout after the first strike, stating that the SEC’s ruling highlights the fine line between overstepping into private practice and keeping a watchful eye as a regulator.
