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Bylaws



BYLAW 708. QUALIFICATIONS AND OBLIGATIONS OF MEMBERS OF NFA COMMITTEES.
[Adopted effective June 2, 1990. Effective dates of amendments: December 10, 1993; March 21, 1994; March 12, 1999 and December 4. 2000.]

    (a) No individual shall be eligible to serve as a member of any NFA Committee or any subcommittee thereof if such person:

      (i) is subject to any of the disqualifications set forth in CFTC Regulation 1.63(b);

      (ii) has been convicted of a felony within the prior 10 years; or

      (iii) is subject to a Member Responsibility Action or Associate Responsibility Action which is currently in effect

    (b) No member or functional equivalent thereof of any NFA Committee or subcommittee shall use or disclose material, non-public information, obtained as a result of participation on the Committee or subcommittee, for any purpose other than the performance of official duties as a member of the Committee or subcommittee thereof.

    (c) No member of any NFA Committee or subcommittee may deliberate or vote on any matter that the member is prohibited from voting on by CFTC Regulation 1.69(b)(1)(i). A member who is prohibited from deliberating or voting on a matter must disclose to NFA staff both the prohibition and the reason for the prohibition before the Committee or subcommittee considers the matter.

(See Interpretive Notice NFA Bylaws 515, 708 and 802: NFA Requirements which Constitute Disciplinary Offenses.)

 
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