[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR170.3]

[Page 596-597]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 170_REGISTERED FUTURES ASSOCIATIONS--Table of Contents
 
  Subpart A_Standards Governing Commission Review of Applications for 
    Registration as a Futures Association Under Section 17 of the Act
 
Sec.  170.3  Fair and equitable representation of members (section 17(b)(5) of 

the Act).

    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

[[Page 597]]

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.