17 CFR 170.3
§ 170.3 Fair and equitable representation of members (section 17(b)(5) of the Act).
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
Cite this
- Citation
- 17 CFR 170.3, § 170.3 Fair and equitable representation of members (section 17(b)(5) of the Act), United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/67748
- Permanent ID
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fa8639dce04dc531c95513ab846a232ac301a03b38cbd18c014d1c959568815c
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.