NFA Proposes to Add to CPO/CTA Representation on NFA Board of Directors

The National Futures Association ("NFA") Board of Directors ("the Board") filed a proposed rule change with the CFTC to amend NFA's Articles of Incorporation to increase CPO/CTA representation on its Board.

Currently, the Board must include four CPO/CTA representatives, of which at least two must rank in the top 20 percent of funds under management allocated to futures and swaps. The amendment would increase the number of CPO/CTA representatives to five on the Board and require that at least three of these rank within the top 20 percent of funds under management and one rank within the top five percent.

See: Text of Proposed Amendments.Related news: NFA Proposes to Amend Articles of Incorporation to Increase CPO/CTA Representation on Board of Directors (Notice I-14-14) (June 5, 2014).