Goldman Sachs cancelled a four-year-old policy to only take public companies that had two diverse board members, a spokesperson for the bank said on Tuesday, in the latest such move by corporations expecting greater scrutiny on social policies from U.

Goldman Sachs is ending its policy that mandated companies have a diverse board for the bank to take them public. The rule, a version of which was implemented in 2020, had said the bank would only underwrite the initial public offerings for companies in the U.

The company told Axios in 2022 that the policy — requiring at least two non white, male board numbers for IPO-seeking companies — was working.