Goldman Sachs Group Inc. is killing a significant pledge it made to refuse initial public offering business with companies that had all White, male boards.

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.

Diversity standards at Goldman and Nasdaq were powerful—but are now gone.

CNBC's Andrew Ross Sorkin reports on the latest news.