The Investment Dealers Association is altering the makeup of its board to include more public directors.

The IDA’s board has approved amendments to its by-laws which will increase the number of public directors from six to eight — over a two year period. The change is being made in recognition of the important role played by public directors. The board will also be reduced by 28 members to 24, giving public directors one third representation.

The IDA also is dropping the requirement that the chairman of the Financial Administrators section must automatically be a member of the executive committee or the board, “as this will assist in reducing the size and therefore enhance the effectiveness of the executive and the board.”