1. Short title This Act may be cited as the Diversity in Corporate Leadership Act of 2020 . 2. Diversity study and disclosures (a) Definitions In this section— (1) the term Advisory Group means the Diversity Advisory Group established under subsection (b); (2) the term Commission means the Securities and Exchange Commission; and (3) the term issuer has the meaning given the term in section 3 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c ). (b) Diversity Advisory Group (1) Establishment The Commission shall establish a Diversity Advisory Group, which shall be composed of representatives from the Federal Government, academia, and the private sector. (2) Study and recommendations The Advisory Group shall— (A) carry out a study on strategies to increase gender, racial, and ethnic diversity among the members of the board of directors of issuers