The 16-50 category has dropped from 22 to 12 in that same time period. Thus, the number of potential Board members in each of these categories, and particularly in the 16-50 group, is quite limited. This approach provides for at least two representatives from each of the two categories with the remaining four drawn from either. This will provide the Nominating Committee with greater flexibility in selecting candidates. The proposed amendments to Article VII are set forth below.
Additions are underscored and deletions are placed within brackets.
Two representatives of FCMs and LTMs having 1-15 offices. Two representatives of FCMs and LTMs having 16-50 offices. A or B above. Six representatives of FCMs and LTMs having 51 or more offices. One representative of IBs required to maintain minimum adjusted net capital.