High Powered Advisory Committee rules set composition, quorum, term and recusal procedures for recommending settlement terms. The regulation creates a High Powered Advisory Committee to recommend terms of settlement, composed of a Judicial member and three external securities ... Summary
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High Powered Advisory Committee rules set composition, quorum, term and recusal procedures for recommending settlement terms.
The regulation creates a High Powered Advisory Committee to recommend terms of settlement, composed of a Judicial member and three external securities experts, with a three year term extendable by two years, a quorum of three, allowance for electronic meetings, and specific recusal and decision procedures whereby remaining members may recommend, the Judicial member's view prevails in absence of majority, and the Board may reconstitute the Committee if most members recuse.
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