SEC approved Nasdaq's rule requiring most of 3,000 listed companies to have at least one woman and one racial minority or LGBTQ director. Companies with five or fewer board seats need only one diverse member. Noncompliant firms face no delisting but must explain publicly. All must comply within one year depending on listing type. 82.5% of Fortune 500 directors were white in June 2020. Racial minorities on Fortune 500 boards rose just 1% from 2018 to 2020. Women on those boards hit 26.5% by 2020. Post-George Floyd, 32% of new S&P 500 board appointees were Black versus 11% prior year. 18% of Russell 1000 board members are racial minorities. Nasdaq partners with Equilar to recruit diverse candidates. Conservatives call it social engineering in boardrooms. Policy responds to investor and post-Floyd pressure for more non-whites.