SEC Contract Standard
To implement the requirements of Section 342 of the Dodd-Frank Act related to the workforce diversity of agency contractors, the SEC includes the Contract Standard for Contractor Workforce Inclusion in all solicitations and contracts for services with a dollar value of $100,000 or more. The Contract Standard also is to be included in subcontracts for services with a dollar value of $100,000 or more awarded under the contract.
OMWI conducts post-award reviews, referred to as “Good Faith Effort Reviews,” to determine whether contractors and subcontractors have complied with the requirements of the Contract Standard to make good faith efforts, to the extent possible and permissible by law, include the fair inclusion of minorities and women in their workforce. Frequently Asked Questions provides additional guidance to contractors on responding to the request.
Contract Standard and Good Faith Effort Reviews Webinar
In August 2020, the SEC’s Office of Minority and Women Inclusion hosted a webinar to provide an overview of the Contract Standard and Good Faith Effort Reviews conducted by OMWI.
Last Reviewed or Updated: Jan. 17, 2025