17 C.F.R. § 170.3 Fair and equitable representation of members (section 17(b)(5) of the Act).
Title 17 - Commodity and Securities Exchanges
A futures association must assure fair and equitable representation of the views and interests of all association members in the procedures providing for the adoption, amendment or repeal of any association rule, in an association's procedure for the selection of association officers and directors and in all other phases of the association's affairs and activities, including disciplinary and membership hearings. No single group or class of association members shall dominate or otherwise exercise disproportionate influence on any governing board of an association or on any disciplinary or membership panel of such an association. Non-members of the association shall be represented wherever practicable on any board or hearing panel of the association.
Title 17: Commodity and Securities Exchanges
PART 170—REGISTERED FUTURES ASSOCIATIONS
Subpart A—Standards Governing Commission Review of Applications for Registration as a Futures Association Under Section 17 of the Act
§ 170.3 Fair and equitable representation of members (section 17(b)(5) of the Act).
