Technical Amendments Proposed for NFA Elections Process
The NFA filed with the CFTC proposed technical amendments to NFA Bylaw 406 regarding the election process for Board Representatives and Nominating Committee Members.
Earlier this year, the NFA amended its Articles of Incorporation to (i) combine retail foreign exchange dealers ("RFEDs") with swaps dealers and major swap participants for purposes of representation on NFA's Board of Directors ("Board"), Executive Committee and Nominating Committee, and (ii) eliminate the requirement that NFA's Board include at least one RFED director.
The proposed technical amendments to Bylaw 406, which governs the election process for Board representatives and Nominating Committee members, make conforming amendments.