Notices to Members

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Notice I-20-38

November 10, 2020

NFA Announces Nominations Made by the 2020 Nominating Committee

In accordance with NFA Bylaw 406, the Office of the Secretary has received from the 2020 Nominating Committee a list of its nominees for positions on NFA's Board of Directors and 2021 Nominating Committee. The list of nominees included with this Notice shall serve as notification to NFA Members of the candidates proposed by the 2020 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; CPO and CTA; and SD, MSP and RFED 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; SD, MSP and RFED; 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 in 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 December 1, 2020. Petitions received after that date will not be considered.

NFA Bylaw 409 provides that each Member shall designate an Executive Representative, who among other things, has the sole authority to sign nomination petitions on behalf of the Member. Members may designate an Executive Representative through NFA's website by completing an electronic Executive Representative contact form. Directions for designating an Executive Representative were provided in NFA's September 24, 2020 Notice to Members I-20-34. Only firm personnel who are Security Managers or are authorized to view, update and file information in NFA's Online Registration System (ORS) may complete the Executive Representative Contact form. If a Member does not complete this form and designate an Executive Representative, the Member's membership contact listed in ORS will be deemed to be the Executive Representative. If a Member designated an Executive Representative last year, it is not necessary to do so again unless the person designated as the Executive Representative has changed.

Petitions should be submitted by mail, email or fax for receipt no later than December 1, 2020 to:

By Mail:
Carol A. Wooding
Secretary and General Counsel
NFA
300 S. Riverside Plaza, Suite 1800
Chicago, Illinois 60606

By Email:
election2021@nfa.futures.org

By Fax:
Attn: Carol A. Wooding
(312) 781-1672

If you have any questions, please contact Carol Wooding at (312) 781-1409 or cwooding@nfa.futures.org.


* 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."



FCM —There are two (2) open positions in the FCM category on the Board of which one (1) must be affiliated with an FCM ranked as a top ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election. The nominees are:

Top 10 FCM
Maria Chiodi
Credit Suisse Securities (USA) LLC

 
Thomas R. Kadlec
ADM Investor Services, Inc.

IB — There is one (1) open position in the IB category on the Board which must be filled by an Independent IB. The nominee is:

Michael T. Burke
HighGround Trading LLC

CPO/CTA — There are two (2) open positions in the CPO/CTA category on the Board of which one (1) must be affiliated with a CPO or CTA that is ranked within the top five (5) percent of CPOs and CTAs reporting any funds under management allocated to futures and swaps on NFA Form PQR and NFA Form PR as of June 30, 2020. The nominees are:

Top 5% CPO/CTA
Martin Lueck
Aspect Capital Limited

 
Ernest L. Jaffarian
Efficient Capital Management LLC

SD/MSP/RFED —There are two (2) open positions in the SD/MSP/RFED category on the Board of which one (1) must be affiliated with an SD, MSP, or RFED that is not a Large Financial Institution** as of June 30 preceding the election.The nominees are:

Non-Large Financial Institution
Charlotte B. McLaughlin
PNC Bank National Association

 
Seth P. Bender
HSBC Bank USA NA


** Pursuant to Article XVIII (n) of NFA's Articles of Incorporation a "Large Financial Institution" is defined as a Swap Dealer included in a well-defined, publicly available and independent list of financial institutions that NFA's Board of Directors identifies by resolution from time to time. In August 2012, NFA's Board of Directors adopted a resolution defining the term "large financial institution" to be the over-the-counter (OTC) derivatives dealer signatories (primary dealers) on the commitment letters executed by the OTC Derivatives Supervisors Group.



FCM — There is one (1) open position on the 2021 FCM Nominating Subcommittee. The nominee is:

William Gerlesits
SG Americas Securities LLC

IB —There is one (1) open position on the 2021 IB Nominating Subcommittee. The nominee is:

Steven J. Georgy
Allendale, Inc.

CPO/CTA — There is one (1) open position on the 2021 CPO/CTA Nominating Subcommittee. The nominee is:

Jason W. Slutsky
Graham Capital Management LP

SD/MSP/RFED — There is one (1) open position on the 2021 SD/MSP/RFED Nominating Subcommittee. The nominee is:

Ashley Belich
Royal Bank of Canada

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