The Zhitong Finance App learned that the China Securities Regulatory Commission has revised the “Measures for the Supervision and Administration of Futures Companies” and formulated the “Notice on Matters Relating to the Implementation of the 'Measures for the Supervision and Administration of Futures Companies'”. The current revision of the “Measures” has further improved the main institutional rules for futures company supervision. It plays an important role in strengthening the supervision and management of futures companies, regulating futures companies' behavior, preventing futures companies' risks, protecting the legitimate rights and interests of customers, and safeguarding the public interest of society.
This revision mainly includes the following: First, the futures company business is divided into basic business (domestic futures brokerage, futures trading consulting) and trading business (futures market trading, futures asset management, derivatives trading), and the regulatory requirements for futures company establishment changes and business entry have been specifically improved. The second is to strengthen supervision of shareholders and actual controllers of futures companies, strengthen shareholders' obligations such as explanations and reports, and enhance the transparency of futures companies' equity. The third is to improve the corporate governance and internal control of futures companies. Futures companies are required to establish and improve organizational structures, and strengthen futures companies' compliance management, risk management, and internal control requirements. Fourth, strictly supervise the subsidiaries and branches of futures companies and strengthen filing management. Fifth, improve the business rules of futures companies, improve general business standards, and improve major business standards such as domestic futures brokerage, futures market trading, and futures asset management. Sixth, supervision and enforcement have been comprehensively strengthened, and supervision, management and legal liability provisions have been further improved.
The original text is as follows:
The China Securities Regulatory Commission issued the “Measures for the Supervision and Administration of Futures Companies” and supporting implementation notices
In order to implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, implement the new “National Nine Rules” and the “Notice of the General Office of the State Council Forwarding the “Opinions on Strengthening Supervision and Risk Prevention and Promoting High-Quality Development of the Futures Market” (Guowanfa (2024) No. 47) deployment requirements, and refine the relevant provisions of the Futures and Derivatives Law, the China Securities Regulatory Commission carefully summarized the supervisory experience, fully listened to the opinions of all parties, revised the “Measures for the Supervision and Administration of Futures Companies” (hereinafter referred to as the “Measures”), and formulated the “Measures on Implementing the 'Measures for the Supervision and Administration of Futures Companies” Notice” (hereinafter referred to as “ “Implementation Notice”). The current revision of the “Measures” has further improved the main institutional rules for futures company supervision. It plays an important role in strengthening the supervision and management of futures companies, regulating futures companies' behavior, preventing futures companies' risks, protecting the legitimate rights and interests of customers, and safeguarding the public interest of society.
This revision mainly includes the following: First, the futures company business is divided into basic business (domestic futures brokerage, futures trading consulting) and trading business (futures market trading, futures asset management, derivatives trading), and the regulatory requirements for futures company establishment changes and business entry have been specifically improved. The second is to strengthen supervision of shareholders and actual controllers of futures companies, strengthen shareholders' obligations such as explanations and reports, and enhance the transparency of futures companies' equity. The third is to improve the corporate governance and internal control of futures companies. Futures companies are required to establish and improve organizational structures, and strengthen futures companies' compliance management, risk management, and internal control requirements. Fourth, strictly supervise the subsidiaries and branches of futures companies and strengthen filing management. Fifth, improve the business rules of futures companies, improve general business standards, and improve major business standards such as domestic futures brokerage, futures market trading, and futures asset management. Sixth, supervision and enforcement have been comprehensively strengthened, and supervision, management and legal liability provisions have been further improved.
In order to complete the implementation of the revised “Measures”, the China Securities Regulatory Commission simultaneously formulated an “Implementation Notice”, which stipulates matters relating to futures companies' applications for additional business administrative licensing, the application of supervisory rules for futures companies' overseas subsidiaries, and related business transition arrangements.
This article was edited by China Securities Regulatory Commission; Zhitong Finance Editor: Li Fu.