NFA Manual / Rules
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BYLAW 703. ADVISORY COMMITTEES.
[Effective dates of amendments: January 28, 1986; November 9, 1988; and August 1, 2016.]
The Board shall appoint Advisory Committees, not having or exercising the authority of the Board, including a Committee to advise the Board on FCM matters, a Committee to advise the Board on matters relating to CPOs and CTAs, a Committee to advise the Board on the matters relating to IBs, and a Swap Participant Committee to advise the Board on matters relating to SDs and MSPs. No person then serving as a member of the Board shall simultaneously serve as a member of any NFA Advisory Committee.
Each member of an Advisory Committee shall be nominated by the President and serve for three years, except that the terms initially established shall be staggered, or until the member's successor is appointed and qualified, or until the member's death, resignation, ineligibility or removal. A vacancy in an Advisory Committee shall be filled by the Board. A Committee member may be removed by the Board whenever in its judgment the best interests of NFA will be served thereby.