Improving Corporate Governance Through Diversity Act of 2023

Bill 118 hr 4177, also known as the Improving Corporate Governance Through Diversity Act of 2023, aims to promote diversity within corporate boards of directors. The bill requires publicly traded companies to disclose information about the gender, racial, and ethnic diversity of their board members and nominees. This information will be made publicly available in annual reports and on company websites.

Additionally, the bill requires companies to establish a diversity policy that outlines their efforts to promote diversity within their board of directors. Companies must also disclose whether they have a director who is a minority or a woman, and if not, explain why.

The bill also includes provisions for the Securities and Exchange Commission (SEC) to establish a Diversity Advisory Group to provide recommendations on how to improve diversity within corporate boards. The SEC will also be required to conduct a study on the diversity of boards of directors and report their findings to Congress. Overall, the Improving Corporate Governance Through Diversity Act of 2023 aims to increase transparency and accountability within corporate boards of directors and promote diversity in corporate leadership.