Segregation of ownership and trading membership: broker members barred from serving as exchange office bearers. Central authorities required segregation of ownership and trading membership from exchange management and, for noncompliant exchanges, exercised statutory powers to amend exchange rules. The amendment inserts a proviso barring broker members from serving as office bearers-President, Vice President or Treasurer-thereby separating trading membership from executive management to address conflict-of-interest concerns.
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Segregation of ownership and trading membership: broker members barred from serving as exchange office bearers.
Central authorities required segregation of ownership and trading membership from exchange management and, for noncompliant exchanges, exercised statutory powers to amend exchange rules. The amendment inserts a proviso barring broker members from serving as office bearers-President, Vice President or Treasurer-thereby separating trading membership from executive management to address conflict-of-interest concerns.
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