Notice to Members
Notice No. 70
02/03/2006
Amendment to Rule 3.03, Disqualification from Board and Committee Service
Pursuant to new amendments to the CFTC's regulations, the Exchange is required to reinstate the prohibition on Board or committee service for Members who had accumulated fines in excess of $5,000 for recordkeeping offenses within one year. The CFTC has also specifically exempted from the prohibition on service those Exchange Members currently serving on the Board of a disciplinary committee who were appointed to their positions during the time that the Exchange's prohibition on service was not in effect. The Exchange will implement the prohibition to coincide with the CFTC's effective date of February 13, 2006.

* * * * *


(Additions are in bold italics; deletions in bold strikethrough)

Rule 3.03, Disqualification from Board and Committee Service

The following provisions of this Rule 3.03 shall apply with regard to the Class A Member of New York Mercantile Exchange Inc.

(A) Definitions:

[(1) through (4) remain unchanged.]

(5) "Disciplinary offense" means:

(i) Any violation of the rules of a self-regulatory organization except those rules related to:
(A) Decorum or attire,
(B) Financial requirements, or
(C) Reporting or recordkeeping unless resulting in fines aggregating more than $5,000 within any calendar year.
[Sections (ii) through (v)(B) remain unchanged.]

(C) Recordkeeping or Reporting-NYMEX Rules 6.07, 6.07A, 6.08A, 6.08B, 6.10, 6.11, 6.18, 6.19, 6.20, 6.21, 6.24, 6.90, 8.50, 9.04, 9.22, 9.26, 9.27, 9.32, 9.33, 9.34, 9.35, 9.36, 11.27, 11.36, 11.58, 90.08, 90.13, 100.08, 100.13, 140.15, 140.19, 140.20, 150.09, 150.13, 150.14, 150.14A, 190.09, 190.13, 190.14, 190.14A, 200.11, 200.15, 200.17, 200.20, 200.20A, 220.11, 220.14, 220.17, 220.17A, 230.12, 230.17, 230.18, 300.08, 300.11, 300.13 and 300.15 (only to the extent that such rules relate to recordkeeping and/or reporting and do not result in aggregate fines exceeding $5,000 in a calendar year) and COMEX Rules 4.80, 4.81, 4.82, 4.84, 4.85, 4.86, 4.87 or 3.11(b).

[The remainder of the rule is unchanged.]
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com