Goldman to Refuse IPOs to Non-Diverse Boards

Goldman Sachs has announced a new policy requiring companies it does business with to have at least one diverse board member, increasing to two next year. This decision follows the realization that many companies went public without diverse boards. The move is seen as a significant but narrow change in Wall Street's approach to diversity. Questions remain about whether other firms will follow suit and if this marks a peak in diversity efforts or a new beginning for greater representation in global business leadership.

What does Fred Folks describe the change as for Goldman and Wall Street?

What questions remain regarding the impact of Goldman Sachs' decision on other Wall Street firms?