Prohibit securities regulators/SROs from race/sex discriminatory rules
Congress should prohibit securities regulators including SROs from rules or actions that discriminate favorably or unfavorably based on race, color, religion, sex, or national origin.
Mandate
Mandate Ch. 27 (Financial Regulatory Agencies) — Better Capital Markets: Congress should prohibit securities regulators, including SROs, from promulgating rules or taking other actions that discriminate, either favorably or unfavorably, on the basis of the race, color, religion, sex, or national origin of such individual or group.
Undo plan
1) Invalidate demographic board-diversity listing quotas; allow aspirational disclosure without mandates.
2) Keep disparate-impact fair-lending analogues out of securities listing unless Congress clearly authorizes.
3) Enforce equal protection against both preferences and exclusionary rules.
4) Preserve targeted outreach programs that do not allocate regulatory benefits by race/sex.
5) Verify: SRO rulebook purge of demographic mandates.