California Push for Women on Corporate Boards Prompts SEC Backlash [TheStreet.com]
Wells Fargo & Company (WFC)
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Source: TheStreet.com
SEC Commissioner Hester Peirce has come out against a California law meant to add women to corporate boards. California: It is a place that provides fertile ground for innovation, imagination, celebration, and -- to be frank -- legislation, said Peirce, a Republican appointed to the SEC last year by President Donald Trump in a speech last week. She didn't mean as a compliment. Peirce's speech attacked a bill passed recently by the heavily Democratic California Legislature that would require companies based in the state to have at least one woman on their boards of directors by 2019. Governor Jerry Brown, who has yet to indicate his stance on the bill publicly, has until the end of the month to sign the measure into law. The California legislation effectively forces corporations, including non-California corporations, to consider all women as stakeholders, Peirce said in the Sept. 21 speech at a conference hosted by the Center for Corporate Reporting & Govern
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