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PFE subcommittee votes to ask full board to codify manager's temporary buyer-approval authority
Summary
The subcommittee voted to send a proposal to the full board that would authorize the exchange manager to provisionally approve new buyers when they meet application and line-of-credit requirements; the motion passed by roll-call vote and will be presented at next week's board meeting.
Meredith Mendelson moved that the subcommittee refer to the full board a proposed rule allowing the exchange manager to temporarily approve new buyers when they have submitted an application, provided a line of credit and met due-diligence requirements; John Arnold seconded.
Committee members discussed safeguards including…
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