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November 30, 2001
Candidates Announced for NFA Board and Nominating Committee
Effective October 15, 2001, NFA's Articles of Incorporation were amended to reduce the size of NFA's Board of Directors from 45 Directors to 25 Directors. Effective February 2002, all of the current Directors' terms will expire. On November 7, 2001, NFA notified its Members of the nominations made by the 2001 Nominating Committee for positions on NFA's Board of Directors and 2002 Nominating Committee. At that time, Members were also given the opportunity to make other nominations by petition, in accordance with Article VII, Section 3(b) and Article X, Section 3 of NFA's Articles of Incorporation.
NFA Bylaw 406 states that "promptly after the expiration of the period within which petitions may be submitted, the Secretary shall notify the Members of all of the candidates for Director and member of the Nominating Committee." In accordance with Bylaw 406, this Notice will serve as notification of the candidates for the Board and 2002 Nominating Committee, including the names of the individuals nominated by petition in accordance with Article VII, Section 3(b) and Article X, Section 3. A complete list of candidates follows.
NFA Bylaw 406 also states that "in the event of a contested election in any of the FCM and LTM, IB, or CPO and CTA categories, the Secretary shall cause written ballots to be sent to all Members in that category by December 15." In accordance with Bylaw 406, ballots will be sent to all Member FCMs and IBs on December 14, 2001. No ballots will be sent in the CPO and CTA category. This category will be represented on the Board by the individuals indicated on the enclosed list. In the CPO and CTA category, there were no vacancies to be filled on the 2002 Nominating Committee.
Should you have any questions, do not hesitate to contact Tony Rose at (312) 781-1469.
Effective February 2002, FCM representation on the Board will be reduced from 14 Directors to eight Directors. Of the eight FCM seats on NFA's Board, four are reserved for FCMs that are ranked in the top ten FCMs based on the total amount of segregated funds and secured amounts as of June 30th preceding the election. The remaining four seats are reserved for FCMs that are not ranked in the top ten FCMs.
Board of Directors - Top Ten FCMs - 4 vacancies
Joseph J. Murphy
Ronald S. Oppenheimer
Michael R. Schaefer
David C. Sturm
Board of Directors - Other FCMs - 4 vacancies
W. Robert Felker
James A. Gary
Douglas O. Kitchen
Charles P. Nastro
Jan R. Waye
Nominating Committee - 1 vacancy
Effective February 2002, IB representation on the Board will be reduced from three Directors to two Directors. Of the two IB seats on NFA's Board, one is reserved for Guaranteed IBs and one is reserved for Independent IBs.
Board of Directors - Guaranteed IBs - 1 vacancy
John J. Lothian
Board of Directors - Independent IBs - 1 vacancy
Nominating Committee - 1 vacancy
CPO & CTA
Effective February 2002, CPO and CTA representation on the Board will be reduced from six Directors to four Directors.
Board of Directors
Douglas L. Bry
George E. Crapple
Robert E. Murray