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NFA Manual / Rules

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[Effective dates of amendments: July 1, 1987; March 15, 1994; October 15, 2001; January 1, 2005; November 16, 2009; and February 20, 2014.]

There shall be an Appeals Committee, consisting of five Directors as follows: one Contract Market Director; one FCM, LTM, RFED, or IB Director; one CPO/CTA Director; one SD or MSP Director; and one Public Representative Director (See Article XVIII). A majority of the Committee members eligible to participate in a proceeding shall constitute a quorum. The Committee members shall be proposed by the President and appointed by the Board. The President and the Board shall endeavor to propose and appoint Directors who reflect the various categories of Members described in the Articles. The Committee shall hear and decide appeals from and reviews of decisions in disciplinary cases by the Business Conduct Committee or the Hearing Committee under the Compliance Rules and decisions the Membership Committee or its designated Subcommittee in membership cases under Bylaw 301(g). Each Committee member shall serve for two years, or until the member's successor is appointed and qualified, or until the member's death, resignation, ineligibility or removal. A Committee vacancy shall be filled in the manner prescribed in Bylaw 601 for officers. A Committee member may be removed by the Board for cause.

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