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Notice I-13-27

September 27, 2013

Board and Nominating Committee Members Whose Terms Will Expire at the Board's 2014 Regular Annual Meeting

NFA Bylaw 406 provides that before October 15th of each year, NFA's Secretary shall notify all Members in the Futures Commission Merchant (FCM), Introducing Broker (IB), Commodity Pool Operator and Commodity Trading Advisor (CPO/CTA) and Swap Dealer and Major Swap Participant (SD/MSP) categories of the elected Directors and the members of the Nominating Committee whose terms shall expire at the Board of Directors' 2014 regular Annual Meeting and shall request that the names of eligible persons to fill those positions be submitted to the Nominating Committee.

FCMs, IBs, CPOs and CTAs

Enclosed is a list of FCM, IB, CPO, and CTA Board and Nominating Committee members whose terms shall expire at the Board of Directors' regular Annual Meeting on February 20, 2014. Also enclosed is a form for your use in submitting names of persons eligible to fill the vacancies on the Board of Directors and the 2014 Nominating Committee. For your reference, an explanation of the composition of the Board of Directors and Nominating Committee and of the open positions in this election is provided.

The Nominating Committee shall consider names that are submitted and the membership shall be notified of its nominations. Thereafter, additional nominations may be made by petition only. Ballots shall be mailed in December to all Members in categories for which there is a contested election and the ballots will be counted on January 22, 2014. The results shall be circulated before the Board of Director's regular Annual Meeting in February.

For FCM, IB, CPO and CTA Members, there are the following open positions on the Board of Directors in the 2014 Member election:

  • Three (3) open positions for FCM Representatives, one (1) of which must be affiliated with a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election;

  • One (1) open position for a Guaranteed IB Representative; and

  • Two (2) open positions for CPO/CTA Representatives who may be affiliated with either a CPO or CTA that is ranked in the top 20% of funds under management allocated to futures and swaps or a CPO or CTA that is not ranked in the top 20% of funds under management allocated to futures and swaps.

SDs/MSPs

Enclosed is a list of the four SD/MSP Board members. NFA's Board of Directors elected these four SD Directors in May 2013. All four of these Directors' initial terms shall expire at the Board of Directors' regular Annual Meeting on February 20, 2014 and all four directors are eligible for re-election.

Therefore, for SD and MSP Members, there are four (4) open positions on the Board of Directors in the 2014 member election. These four positions are divided as follows: At least three (3) SDs that are Large Financial Institutions as of June 30 of the prior calendar year; and at least one (1) SD that is not a Large Financial Institutions. NFA's Board of Directors has resolved to use the list of Participating Dealers on the Federal Reserve Bank of New York's website on a designated webpage entitled "OTC Derivatives Supervisors Group" to define Large Financial Institutions.

NFA's Board of Directors will elect the initial SD/MSP Subcommittee of the Nominating Committee. At the Board of Directors' regular Annual Meeting in February 2014, the term of one member of the SD/MSP Subcommittee of the Nominating Committee will expire. Therefore, one individual will need to be elected to fill this vacancy.

Enclosed is a form for your use in submitting names of persons eligible to fill the SD/MSP vacancies on the Board of Directors and SD/MSP Subcommittee of the Nominating Committee. For your reference, an explanation of the composition of the Board of Directors is provided.

The Nominating Committee shall consider names which are submitted and the membership shall be notified of its nominations. Thereafter, additional nominations may be made by petition only. If there is a contested election in the SD/MSP category, then ballots shall be mailed in December to all SDs/MSPs and the ballots will be counted on January 22, 2014. The results shall be circulated before the Board of Director's regular Annual Meeting in February.

The Nomination Committee's Open Positions

In addition to the Board of Director vacancies, there are the following open positions on the Nominating Committee in the 2014 Member election:

  • One (1) open position for an FCM Representative who must be affiliated with a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election;

  • One (1) open position for an IB Representative who may be affiliated with either a Guaranteed IB or an Independent IB;

  • One (1) open position for an CPO/CTA Representative who must be acting primarily as a CTA; and

  • One (1) open position for an SD/MSP Representative who may be affiliated with a Large Financial Institution SD or an SD that is not a Large Financial Institution.

NFA is a membership organization. NFA Members have a voice in NFA's governance through the exercise of the right to suggest candidates and to nominate and elect individuals to serve on NFA's Nominating Committee and Board of Directors. The Nominating Committee relies heavily on the suggestions of the membership in making its nominating decisions. Please give this matter serious consideration and return your submission(s) to NFA for receipt no later than October 18, 2013.

Please return your submission(s) by mail or by fax for receipt no later than October 18, 2013 to:

Thomas W. Sexton
Secretary
National Futures Association
300 South Riverside Plaza, Suite 1800
Chicago, Illinois 60606
(Fax: 312-781-1467)

Should you have any questions, please contact Tom Sexton at (312) 781-1413.

ELECTED BOARD AND NOMINATING COMMITTEE MEMBERS
WHOSE TERMS WILL EXPIRE AT THE BOARD OF DIRECTORS' 2014 REGULAR ANNUAL MEETING


BOARD OF DIRECTORS
(Directors may succeed themselves)


FCMs

Michael C. Dawley
Managing Director
Goldman Sachs & Co.

Gerald F. Corcoran
Chief Executive Officer
R.J. O'Brien & Associates, LLC

Scott A. Cordes
President
CHS Hedging, Inc.

IB (Guaranteed)

Paul J. Georgy
President
Allendale, Inc.

CPO/CTAs

Douglas L. Bry
President
Northfield Trading LP

Ernest L. Jaffarian
CEO/CIO
Efficient Capital Management, LLC

SD/MSPs

Robert P. Burke
Managing Director
Bank of America Merrill Lynch

Charlotte B. McLaughlin
President and CEO
PNC Capital Markets, LLC

Philip A. Olesen
Managing Director and Global Head of Credit Trading
UBS Securities LLC

Don Thompson
Managing Director and Associate General Counsel
JPMorgan Chase & Co.


NOMINATING COMMITTEE
(Nominating Committee members may NOT succeed themselves)


FCM

Bruce A. Beatus
Assistant General Counsel
Bank of America Merrill Lynch

IB

Michael T. Burke
Chief Executive Officer
Highground Trading Group Inc.

CPO/CTA

Patricia N. Gillman
US Counsel
Winton Capital Management, Ltd.

COMPOSITION OF
NFA'S BOARD OF DIRECTORS

1. Seven (7) FCM Representatives - At least three (3) from top-ten FCMs based on the total amount of segregated funds and secured amounts as of June 30 preceding the election and at least three (3) from FCMs that are not ranked as top-ten FCMs.

2. One (1) IB Representative - Independent.

3. One (1) IB Representative - Guaranteed.

4. One (1) Retail Forex Exchange Dealer.

5. Four (4) CPO/CTA Representatives - At least two (2) affiliated with either CPOs or CTAs that are ranked in the top 20% of funds under management allocated to futures and swaps.

6. Seven (7) SD/MSP Representatives - At least three (3) SDs that are Large Financial Institutions as of June 30 of the prior calendar year; at least three (3) SDs that are not Large Financial Institutions; and one MSP, provided that there exists an individual willing and eligible to be an MSP representative. NFA's Board of Directors has resolved to use the list of Participating Dealers on the Federal Reserve Bank of New York's website on a designated webpage entitled "OTC Derivatives Supervisors Group" to define Large Financial Institutions.

7. No more than five (5) Contract Market Representatives.

8. Twelve (12) Public Directors, effective February 2014. NFA will have a total of 14 Public Directors by February 2016.

COMPOSITION OF
NFA'S NOMINATING COMMITTEE

1. Three (3) FCM Representatives - At least one (1) representative from a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election and at least one (1) representative from an FCM not ranked as a top-ten FCM.

2. Three (3) IB Representatives - At least one (1) representative from an Independent IB and at least one (1) representative from a Guaranteed IB.

3. Three (3) CPO/CTA Representatives - At least one representative acting primarily as a CPO and at least one representative acting primarily as a CTA.

4. Three (3) SD Representatives - At least one (1) representative from an SD that is a Large Financial Institution and at least one (1) representative from an SD that is not a Large Financial Institution.

SUBMISSION TO NFA NOMINATING COMMITTEE

Printable version of Suggestion for Nomination

SUGGESTION FOR NOMINATION*

Name of Individual
Being Suggested: ________________________________________________________________________

Suggested for Nomination to:
______ Board of Directors
______ Nominating Committee

NFA Member Firm with Which
Suggested Individual is Affiliated: ____________________________________________________________

Firm's Membership Category: _____FCM _____IB _____CPO/CTA _____SD/MSP

Individual's Title: __________________________________________________________________________

Business Address:
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________

Telephone: _________________________ Email, if known: _______________________________________

Name of Person Making Suggestion:
________________________________________________________

On Behalf of:
____________________________________________________________________________
(NFA Member Firm)

Your Business Telephone: _____________________ Email: _______________________________________

Thank you for your submission. NFA will contact the individual you suggested to confirm his/her willingness to serve and to obtain biographical information that will be forwarded to the Nominating Committee.

* Please complete a separate form for each individual suggested. This form may be photocopied. Please return your submission(s) to NFA for receipt no later than October 18, 2013, by mail or fax to:

Thomas W. Sexton, III
Secretary
National Futures Association
300 South Riverside Plaza, Suite 1800
Chicago, IL 60606
(Fax: 312-781-1467)

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