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Notice I-16-21

October 04, 2016

Executive Representative Reminder and Board and Nominating Committee Members Whose Terms Will Expire at the Board's 2017 Regular Annual Meeting

Executive Representative Reminder

On November 19, 2015, NFA's Board of Directors unanimously approved a proposal to amend NFA's Bylaws to implement an electronic voting process for Directors' elections, contested Nominating Committee member elections, and Articles' amendments approval votes. The CFTC subsequently approved the proposed amendments to NFA's Bylaws to implement the electronic voting process, and the amendments became effective on August 1, 2016.

If elections are necessary, NFA has engaged Corporate Election Services (CES), a third-party service provider, to administer the electronic voting process. To facilitate the electronic voting process, each Member shall designate an Executive Representative who will have the Member's sole authority to sign nominating petitions, receive notices of Member meetings and proxy materials, complete proxy cards, and provide voting instructions and cast votes on behalf of the Member. Directions for designating an Executive Representative were provided in NFA's August 24, 2016 Notice to Members I-16-18. Only those firm personnel who are the Security Manager or are authorized to view, update, and file information in ORS may complete the Executive Representative Contact form. If a Member fails to complete this form and designate an Executive Representative, the Member's membership contact listed in ORS will be deemed to be the Executive Representative.

Board and Nominating Committee Members' Terms to Expire at 2017 Board of Directors' Regular Annual Meeting

Before October 15th of each year, NFA's Secretary shall notify all Members in the Futures Commission Merchant (FCM), Introducing Broker (IB), Commodity Pool Operator and Commodity Trading Advisor (CPO/CTA), and Swap Dealer, Major Swap Participant and Retail Foreign Exchange Dealer (SD/MSP/RFED) categories of the elected Directors and the members of the Nominating Committee whose terms shall expire at the Board of Directors' regular annual meeting and shall request that the names of eligible persons to fill those positions be submitted to the Nominating Committee.

Provided is a list of the FCM, IB, CPO/CTA and SD/MSP/RFED Board and Nominating Committee members whose terms shall expire at the Board of Directors' regular annual meeting on February 16, 2017. Please use the form provided to submit names of persons eligible to fill the vacancies on the Board of Directors and the Nominating Committee. For your reference, an explanation of the composition of the Board of Directors as of February 2017 and the Nominating Committee is provided. The Nominating Committee shall consider names that are submitted and the membership will be notified of its nominations. Thereafter, additional nominations may be made only by a petition submitted by a Member's Executive Representative.

FCM and IB Open Board Positions

Two (2) open positions for FCM Representatives of which at least one (1) must be affiliated with a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election.

One (1) open position for an Independent IB Representative.

CPO/CTA Open Board Positions

Two (2) open positions for CPO/CTA Representatives of which at least one (1) must rank within the top 5% of CPOs or CTAs reporting any funds under management allocated to futures and swaps on NFA Form PQR and NFA Form PR as of June 30, 2016, and one (1) is an at-large position with no conditions placed on this position as far as its ranking.

SD/MSP/RFED Open Board Positions

Two (2) open positions for SD/MSP/RFED Representatives of which one (1) representative must be affiliated with an SD, MSP, or RFED that is not a Large Financial Institution as of June 30 preceding the election, and one (1) is an at-large position with no conditions placed on this position as far as its ranking.

Nominating Committee Open Positions

In addition to the Board of Director vacancies, there are the following open positions on the Nominating Committee in the 2017 Member election:

  • One (1) open position for an FCM Representative who may be affiliated with either a top-ten or non-top ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election;

  • One (1) open position for an IB Representative who must be affiliated with a Guaranteed IB;

  • One (1) open position for a CPO/CTA Representative who must be acting primarily as a CTA; and

  • One (1) open position for an SD/MSP/RFED Representative who may be affiliated with either an SD that is either a Large Financial Institution or an SD/MSP/RFED of a Non-Large Financial Institution as of June 30 preceding the election.

How to Submit Recommendations

NFA is a membership organization. NFA Members have a voice in NFA's governance through the exercise of the right to recommend candidates and to nominate and elect individuals to serve on NFA's Nominating Committee and Board of Directors. The Nominating Committee relies heavily on the recommendations of the membership in making its nominating decisions. Please give this matter serious consideration and return your submission(s) to NFA by mail, email or fax for receipt no later than Friday, October 21, 2016 to:

By Mail:
Thomas W. Sexton
Secretary
National Futures Association
300 South Riverside Plaza, Suite 1800
Chicago, Illinois 60606

By Email:
Election2017@NFA.futures.org

By Fax:
Attn: Tom Sexton
312-781-1672

Should you have any questions, please contact Tom Sexton at 312-781-1413.

BOARD MEMBERS WHOSE TERMS WILL EXPIRE
AT THE BOARD OF DIRECTORS' 2017 REGULAR ANNUAL MEETING


BOARD OF DIRECTORS
(Directors may succeed themselves)


FCM

Antonio Reyes Miras
Managing Director and Americas Head—Futures, Clearing and Collateral
Citigroup Global Markets, Inc.

Vacancy

IB

Michael T. Burke
Chief Executive Officer
HighGround Trading LLC

CPO/CTA

Adam C. Cooper
Senior Managing Director and Chief Legal Officer
Citadel

Ernest L. Jaffarian
CEO/CIO
Efficient Capital Management LLC

SD/MSP/RFED

Charlotte B. McLaughlin
President and Chief Executive Officer
PNC Capital Markets LLC

Philip A. Olesen, CFA
Managing Director and Global Head of Credit Trading
UBS Securities LLC


NOMINATING COMMITTEE MEMBERS WHOSE TERMS WILL EXPIRE
AT THE BOARD OF DIRECTORS' 2017 REGULAR ANNUAL MEETING


NOMINATING COMMITTEE
(Nominating Committee members may NOT succeed themselves)


FCM

Mary Beth Rooney
Director
Citigroup Global Markets, Inc.

IB

Kurt M. Johnson
President
Archer Financial Services, Inc.

CPO/CTA

Michael Garfinkle
Managing Director
Moore Capital Management LP

SD/MSP/RFED

Amy Kim
Managing Director Legal and Compliance Department
Morgan Stanley


Printable version of Recommendation for Nomination.

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