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November 08, 2010
NFA Announces Nominations Made by the 2010 Nominating Committee
In accordance with NFA Bylaw 406, the Office of the Secretary has received from the 2010 Nominating Committee a list of its nominees for positions on NFA's Board of Directors and 2011 Nominating Committee. The list of nominees included with this notice shall serve as notification to NFA Members of the candidates proposed by the 2010 Nominating Committee.
Other nominations may be made by petition. Article VII, Section 3(b) of NFA's Articles of Incorporation provides that:
"Nominations may be made for elected FCM and LTM, IB, and CPO and CTA Director positions by:
(i) Petition signed by 50 or more NFA Members* in the category for which the nomination is made (i.e., FCM and LTM, IB, and CPO and CTA); or
(ii) Petition submitted by any organization or association recognized by NFA as fairly representing the category ... for which the nomination is made.
Petitions shall be submitted in the manner specified by the Bylaws. No petition may nominate more than one candidate for the same position."
Article X, Section 3 of NFA's Articles of Incorporation similarly permits nominations for the Nominating Committee by petition.
NFA Bylaw 406 requires that each petition identify the position to which the nomination pertains, and that all petitions must be received by the Secretary within 21 days of the date of this Notice. Therefore, if you wish to submit nominations by petition, please make sure that such petitions are received by the Secretary of NFA on or before November 29, 2010. Petitions received after that date will not be considered.
Petitions should be mailed or faxed to:
National Futures Association
Attn: Thomas W. Sexton
300 South Riverside Plaza, Suite 1800
Chicago, Illinois 60606
If you have any questions, please contact Thomas Sexton at (312) 781-1413.
* Section 2 of Article VI of the Articles of Incorporation provides that for purposes of signing nomination petitions, a Member will be deemed to be a Member "only in that single category to which its business activities primarily relate."
2010 NOMINEES FOR NFA BOARD OF DIRECTORS
FCM -- This year there are four open positions in the FCM category on the Board. Of the four FCM Board members whose terms do not expire next year, two are affiliated with FCMs that rank in the top ten FCMs based on the total amount of segregated funds and secured amounts as of June 30, 2010 and two are affiliated with non-top ten FCMs. Therefore, the four open FCM positions may be filled by either FCMs that rank in the top ten or by FCMs that do not rank in the top ten. The nominees are:
Nominees - FCM Category:
Maureen C. Downs
W. Robert Felker
Christopher K. Hehmeyer
William F. McCoy
IB -- This year there is one open position in the IB category on the Board which must be filled by an Independent IB. The nominee is:
Nominee - Independent IB Category:
John A. Vassallo
CPO/CTA -- This year there are two open positions in the CPO/CTA category on the Board. Of the two CPO/CTA Board members whose terms do not expire next year, one ranks in the top 20% of CPOs or CTAs with funds under management allocated to futures and the other does not. Therefore, of the two open CPO/CTA positions, at least one must be filled by a CPO or CTA that ranks in the top 20%. The nominees are:
Nominees - CPO and CTA Category
Bruce L. Cleland
George E. Crapple
FCM -- There is one open position on the 2011 FCM Nominating Subcommittee. The nominee is:
BNP Paribas Commodity Futures Inc.
IB -- There is one open position on the 2011 IB Nominating Subcommittee. The nominee is:
Chief Executive Officer
Highground Trading Group Inc.
CPO/CTA -- There is one open position on the 2011 CPO/CTA Nominating Subcommittee. The nominee is:
Winton Capital Management, Ltd.