These changes relate to director tenure, committees and nominations and are largely in line with its task force’s recommendations. 

However, the changes did not include the task force’s suggestion that a majority of the board be comprised of public members. The board is made up of 16 members currently but has had as few as 11 and as many as 19 members. Public members are not CFPs and do not work in the financial services industry, with the exception of consumer advocacy. 

Read the full article from Financial Planning.