ARTICLE XII DISCIPLINARY PROCEEDINGS
Sec. 1. The Board shall have authority to establish procedures relating to disciplinary proceedings involving members and their associated persons.
Amended by SR-NASD-97-71 eff. Jan. 15, 1998. |
ARTICLE X COMPENSATION OF BOARD AND COMMITTEE MEMBERS
Sec. 1. The Board may provide for reasonable compensation of the Chair of the Board, the Governors, and the members of any committee.
Integration Committee
Sec. 7. (a) The Board shall appoint an Integration Committee.
Finance Committee
Sec. 6. (a) The Board shall appoint a Finance Committee. The Finance Committee shall advise the Board with respect to the oversight of the financial operations and conditions of the Corporation, including recommendations for the Corporation's annual operating and capital budgets and proposed changes to the rates and fees charged by Corporation.
(b) The Finance Committee shall consist of four or more Governors. The Chief Executive Officer of the Corporation shall be a member of the Finance Committee.
Audit Committee
Sec. 5. (a) The Board shall appoint an Audit Committee. The Audit Committee shall consist of four or five Governors, none of whom shall be officers or employees of the Corporation. The Audit Committee shall include at least two Public Governors. A Public Governor shall serve as Chair of the Committee.
Maintenance of Compositional Requirements of Committees
Sec. 2. Upon request of the Secretary of the Corporation, each prospective committee member who is not a Governor shall provide to the Secretary such information as is reasonably necessary to serve as the basis for a determination of the prospective committee member's classification as an Industry or Public committee member. The Secretary shall certify to the Board each prospective committee member's classification.