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It is now seeking membership approval to split into two companies, one devoted to floor trading and the other to electronic trading.
"This has been put through without membership approval," said Robert Moss, a member of the Fenway Golf Club for 50 years and Michael Moss's father.
Any standards approval must be based on membership approval of more than a simple majority.
Despite talks with other interested parties, like the former Shrewsbury Town chief executive Colin Poole, and London businessman Stephen Cleeve, the WST outline bid is solely in its name - subject to membership approval at a meeting next week.
First, since its membership approval by the Financial Industry Regulatory Authority ("FINRA") on December 14 , 2011 SharesPost Financial Corporation ("SPFC") now directly serves our members as a registered broker-dealer, a member of FINRA and the Securities Investor Protection Corporation ("SIPC").
In addition to the election of officers, the membership may also be considering amendments to the documents and other matters that require membership approval.
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Although agreement was reached to cut $465 million a year over six and a half years, the proposed deal will not be sent to the pilots' membership for approval, he said, until negotiators work out provisions related to job security and other employee compensation, like stock options.
Votes are taken on compensation plans, board membership and approval of auditors.
He wants to renegotiate the terms of British membership and seek approval for the result of that negotiation from the public, possibly in a referendum.
After that, however, the agreement will still have to be submitted to a vote of the union's membership, and although approval is expected there, as well, it is not a sure thing.
United Democrats forced House Republicans to look solely to their own membership to win approval of spending and budget measures that carried a political price given their reductions in spending on an array of social programs -- cuts ready-made for campaign attacks.
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