Futures futures investment consultancy business test approach
(March 23, 2011, the 70th of China Securities Regulatory Commission announced as of May 1, 2011) Chapter I General provisions
First in order to standardize the futures futures investment advisory business activities of the company, improving the futures company professional services capabilities, protect customer interests, promote the development of the futures market to better serve the national economy, according to the relevant provisions of the regulations on futures trading, these measures are formulated.
Second futures futures investment advisory business in these measures refers to companies with contracts based on customers ' authorization to engage in profit-making activities of the following:
(A) assist clients in establishing a risk management system, operating procedures, provide risk management consulting, training and risk management consultancy services;
(B) collect information on futures markets and related financial information, research and analysis of the futures market and the spot market price and its influencing factors, production, providing analysis and research report or information research and analysis services;
(C) for customers designing investment programmes such as hedging, arbitrage, adopting futures trading strategies trading advisory services;
(D) the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) under other activities.
Third futures companies engaged in investment advisory business, futures investment consultancy business approved by the China Securities Regulatory Commission made eligible futures companies engaging in futures investment consultancy business personnel should be qualifications for the futures investment consultancy business.
Without obtaining the required qualification of future operational activities of the company and its employees shall not engage in futures investment consultancy.
Article fourth futures companies and their employees engaged in futures investment consultancy business, shall comply with the provisions of relevant laws, regulations, rules and these rules, follow the principle of good faith, based on independent and objective positions, fair treatment of customers, and to avoid conflicts of interest.
Fifth China Securities Regulatory Commission and the Agency in accordance with the futures companies and their employees engaged in futures investment consultancy business supervision management.
China Futures Association of futures companies and their employees engaged in futures investment consultancy business self-regulation.
Chapter II business qualifications and professional qualification
Sixth futures companies engaged in futures investment advisory business, shall meet the following conditions:
(A) not less than RMB 100 million yuan of registered capital and net capital of at least 80 million Yuan;
(B) apply before 6 months of risk supervision indicators continue to comply with the regulatory requirements;
(Three) has 3 years above futures practitioners experience and made futures investment advisory practitioners qualification of senior management personnel not less than 1 name, has 2 years above futures practitioners experience and made futures investment advisory practitioners qualification of business personnel not less than 5 name, and Qian said senior management personnel and business personnel recently 3 years within no bad integrity records, not by administrative, and criminal punishment, and not exists for suspected illegal violations are was right to organ survey of case;
(D) with a complete investment consulting business management systems;
(E) within the last 3 years not by the administrative and criminal penalties for illegal operations, and there is no suspicion of serious violation was entitled to agencies in the investigation of cases;
(Vi) does not exist in the past 1 years by regulators to take the article 59th of the regulations on futures trading, 60th supervisory measures provided for in article;
(VII) other conditions stipulated by the CSRC based on prudent regulatory principles.
Seventh futures company eligibility criteria for futures investment advisory business, shall submit the following application materials:
(A) the futures investment consultancy business application for eligibility;
(B) the shareholders ' resolutions on the applications for future investment-advisory business documents;
(C) apply before 6 months of futures company risk monitoring reports;
(D) the futures investment consultancy management system text, including departments and personnel management, business operations, compliance checks, customer visits and complaints;
(E) the last 3 years of future compliance management information note;
(F) the proposed senior engaged in futures investment consultancy business managers and operational staff, curriculum vitae, a list of relevant qualifications and qualification certificates, as well as the company's good faith compliance documents;
(VII) stamped with the seal of the company's business license copy, copy of the operating futures business license;
(H) securities and futures-related business qualified accounting firms audited financial reports of the previous year; the date of filing in the second half, audited half-yearly financial report should also be provided;
(I) the law firm on futures companies is in line with the sixth part (c), (e) the conditions laid down, as well as the legal opinions issued by the legality of the resolution of the shareholders;
(10) other materials prescribed by the CSRC.
Article eighth of China Securities Regulatory Commission acceptance futures futures investment consultancy business qualifications of the company within 2 months from the date of the application, make a decision to approve or not to approve.
Nineth China futures industry association responsible for futures investment consultancy business in China's qualification examination, qualification, and management and other related work, and related management measures shall be formulated by the China Futures Association.
Chapter III business rules
Tenth futures companies and their employees should be based on professional skills, prudence, diligence and dedication to provide customers with investment advisory services, keep the client's business secrets and safeguard the legitimate rights and interests of customers.
Futures for futures investment consultancy services and its employees shall not make false, misleading propaganda, may not cheat or mislead customers.
11th futures companies should be in accordance with the relevant provisions of the information disclosure, in business premises, company websites and public companies on the website of China futures industry association business qualifications, qualifications of personnel, services, complaints and other related information.
Article 12th futures futures investment advisory business activities of the company shall follow the specific business practices, and should work with their management abilities, adapt to business and staffing levels, effective implementation of future investment-advisory business management system, strengthen compliance check, preventing business risks.
Article 13th futures futures investment advice companies and their employees in the service and shall not engage in the following acts:
(A) to assure customers make profit, or agree to share profits and risks;
(B) false information, rumours or inside information as the basis to provide customers with investment advisory services;
(C) the use of futures investment advisory activities of manipulating futures prices, insider trading or dissemination of false or misleading information;
(D) payment for charged services in his own name;
(E) futures rules and regulations prohibiting other acts.
Futures futures investment advice in the investment advisory business services, shall not accept the consignment of client to engage in futures trading.
14th futures companies should understand in advance the identity of their clients, financial situation, investment experience, careful assessment of customer risk appetite, risk tolerance, and service needs, and keep customer information in paper and electronic forms.
Futures companies should address the futures investment consultancy specific customer service needs, revealing the futures market risk clearly inform customers bear the risk in futures markets.
15th futures futures investment consultancy services contract with the customer, expressly agreed upon the content of the services and fee standards and other related matters.
Futures investment consultancy services contract guidelines and risk disclosure letter format, developed by the China Futures Association.
16th futures company provides risk management services, should develop their own professional advantage for customers to develop their own risk management systems or processes, provision of targeted risk management consulting or training, shall not be exaggerating the risk management function of futures.
Futures companies should regularly assess the effect of risk management services, and customer feedback, the continuous improvement of risk management services.
17th futures company provides research and analysis service, clients should be treated fairly, and to take effective measures to ensure research analyst stand-alone form analysis and conclusion.
Futures research and analysis company shall establish reporting and information mechanisms for review, management and use of information, research and analysis reports, the use of information for review and compliance checking.
Futures companies should take effective measures to prevent the utilization of research analysts and other personnel reports, news and information for their own and other stakeholders gain unfair advantage.
Article 18th research analyst research and analysis on the content of the report and opinion are responsible for and ensure legal compliance, research methods professional prudence, conclusions are reasonable.
Research and analysis reports should be made to develop appropriate written or electronic form, containing the futures firm and business qualifications, research analyst name, business number, production date and other information, with reference information about data source limitations, research analysis and consumer risk.
Futures company, provided research and analysis reports should not violate the intellectual property rights of others.
19th futures companies provide trading advisory service, customers should be implicitly stated that there is no conflict of interest, prompting potential changes in the market and the investment risk, may arise on the market make decisive judgments.
Futures companies provide investment programmes or futures trading strategy should be based on the company's studies, legal studies, made by relevant industry information, and publicly available information as the main basis.
Futures company shall inform the customer of their own futures trading decision-making, independent futures trade consequences, plan information and shall not disclose the customer's investment decisions.
Article 20th futures futures trading software, Terminal as the carrier, to provide trading advisory service or similar service, shall be the implementation of these measures and explain to the customer trading software, the basic functions of terminals, reveal the use limitation, describe the relevant data sources shall be placed on the trading software, Terminal value of false, misleading information or functions.
Article 21st futures company shall trace management of futures investment consultancy business operations, and in accordance with the provisions of the China Securities Regulatory Commission to save life and requirements, kept futures risk disclosure of the investment advisory business, Contracting, risk management advice, research and analysis reports, transaction advice, futures trading software or Terminal notes and other business materials.
22nd futures companies should be effective implementation of futures investment advisory business and management system of customer visits and complaints provisions clear details of customers return with complaints, requirements, procedures, timely, proper handling of customer complaints.
The fourth chapter safeguards against conflict of interests
23rd futures companies should develop preventive futures investment advisory business conflicts of interest with other futures business management system, establish and improve the information isolation mechanism, and maintaining Office space and office equipment are relatively independent.
Future potential conflicts of interest between the investment-advisory business activities, the futures company shall make the necessary posts an independent, ethical, and people avoid working arrangements.
Futures Chief Risk Officer of the company shall be to check the implementation of the matters prescribed in the preceding paragraph.
Article 24th future potential conflicts of interest between the companies and their employees and customers, should follow the principle of giving priority to customer interests; there is a conflict of interest between different customers, should follow the principle of fair treatment to deal with it.
25th futures company headquarters should set up independent departments, unified management of futures investment consultancy business.
Futures Sales Department is under the unified management of the corporate headquarters of the company provides investment advisory services.
26th futures investment consultancy business personnel should be based on futures futures investment advisory business activities carried out on behalf of the company, may not personally provide futures investment consultancy services to customers.
27th futures investment advisory business and transaction, settlement, risk management, finance, technology and other business people post independence, separation of duties.
Fifth regulatory and legal liability
28th futures company shall, in accordance with the provisions of article content and formatting requirements, submit monthly to the home agency of the China Securities Regulatory Commission futures investment consultancy business information.
29th chief risk officer is responsible for overseeing the futures company futures investment consultancy management system development and implementation, regular inspection of compliance in futures investment advisory business, and to perform their duties of supervising and reporting.
The futures company domicile of the Chief risk officer to the Agency of the China Securities Regulatory Commission to submit quarterly reports, the annual report shall be included in the company's future compliance and inspection of the investment advisory business, and focus on preventing conflict of interest statements.
30th the China Securities Regulatory Commission and its agencies in accordance with the principle of prudent supervision, regular or irregular to inspect futures futures investment advisory business.
31st futures company engaged in futures investment advisory business activities without obtaining the required qualifications or appointment does not have the appropriate qualifications for personnel engaged in futures investment consultancy business activities shall be ordered to correct serious cases, in accordance with the regulations on futures trading article 70th of the provisions of the.
Article 32nd futures or its practitioners to conduct futures investment consultancy business for any of the following circumstances, the China Securities Regulatory Commission and its agencies for specific situations, in accordance with the provisions of the regulations on futures trading article 59th of the regulatory measures taken:
(A) the futures investment consultancy services to make false, misleading propaganda, fraudulent or misleading;
(B) the absence of senior managers or business unit personnel below the prescribed requirements;
(C) personally provide futures investment consultation services;
(D) violation of these measures article 13th;
(E) failing to establish management systems, mechanisms to prevent conflict of interest;
(Vi) not effectively implemented to prevent conflicts of interest management systems, mechanisms and mismanaged, resulting in significant conflict of interest;
(VII) use of research reports, news and information for their own and other stakeholders gain unfair advantage;
(VIII) other circumstances that do not comply with these rules.
Futures companies or their employees one of the circumstances listed in the preceding paragraph, if the circumstances are serious, according to the regulations on futures trading 70th, 71st, 73rd, and 74th of the related provisions; a suspected crime, transferred to the judicial organs according to law.
The sixth chapter supplementary articles
Article 33rd futures company the futures brokerage business to provide customers with consulting, training and other ancillary services shall comply with future regulations, relevant provisions of the regulations.
Article 34th futures companies and their employees through newspapers, television, radio and public media such as online futures market analysis, and information dissemination activities, shall obtain the futures investment consultancy business qualifications and qualifications, compliance with the financial information related requirements, protecting the intellectual property rights of others; in front of the future information dissemination activities carried out, futures companies and their employees shall apply to Agency of the China Securities Regulatory Commission records residence.
35th securities institutions engaged in futures investment advisory business activities of qualification and regulatory requirements otherwise specified by the CSRC. Article 36th these measures shall take effect on May 1, 2011.