Futures Corporate Management Tools

Original Language Title: 期货公司管理办法

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(April 9, 2007 the 43rd release of China Securities Regulatory Commission since April 15, 2007) Chapter I General provisions article in order to regulate the activities of futures companies, strengthen the supervision and management of the futures company, protect the legitimate rights and interests of customers to promote actively and steadily develop the futures market, in accordance with the company law and the laws and administrative regulations on futures trading management regulations, these measures are formulated.
    Article in the People's Republic of China established within the territory of the futures company, these measures shall apply.
    Third futures company shall abide by the laws, administrative regulations, and the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) rules, prudence, honour their fiduciary duty to clients.
    Article fourth futures company's controlling shareholder, actual control and other affiliates, and may not abuse their rights, shall occupy the futures company's assets or the misappropriation of client deposits and other assets, shall be without prejudice to the futures company, customer's legal rights.
    Fifth China Securities Regulatory Commission and its agencies shall supervise and manage the futures companies and their branches.
    China futures industry association and the Futures Exchange, the futures company self-regulation according to law.
    Futures margin security depository supervision authority shall deposit security implementation monitoring.
    Chapter II establishment, alteration and termination of business sixth application for establishment of the futures company, should adhere to the 16th article of the regulations on futures trading conditions, shall meet the following conditions: (a) futures practitioners qualifications no fewer than 15 people; (b) the qualifications of senior managers of not less than 3 persons. Seventh article application established futures company, shareholders should has China corporate qualification, holds 5% above equity of shareholders should has following conditions: (a) real received capital and net worth are not below Yuan 30 million Yuan, continued business 2 a above full of fiscal year, in recently 2 a fiscal year within at least 1 a fiscal year profit; or real received capital and net worth are not below Yuan 200 million Yuan; (ii) net worth not below real received capital of 50%, or has liabilities below net worth of 50%, Not exists on financial status produced major not determine effect of other risk; (three) including on futures company of funded zainei of cumulative foreign long-term equity investment not over itself net worth; (four) no larger amounts of due not settlement debt; (five) near 3 years within not for illegal violations business by administrative punishment or criminal punishment; (six) not for suspected illegal violations business is was right to organ filed survey or take forced measures; (seven) in near 3 years within as financial institutions of shareholders or actual control people,
    Or as listed company of holding shareholders or actual control people, no abuse shareholders right, and escape shareholders obligations, not integrity behavior; (eight) its natural shareholders, and statutory representative people or senior management personnel no was take securities, and futures market ban into measures, or ban into term expires has over 2 years; no was revoked securities, and Futures senior management personnel served qualification or practitioners qualification, or since was revoked of day up has over 2 years; not exists company law 147th article first paragraph by column case;
    (I) there is no other identified by CSRC based on prudent regulatory principles for equity futures companies.
    Established by article eighth futures company, 100% owned by shareholders in addition shall comply with the conditions provided for in article seventh net capital shall not be less than RMB 1 billion; shareholder net capital or similar indicator is not applicable, the net assets shall not be less than 1.5 billion yuan.
    Nineth futures company affiliated shareholders the shareholding of up to 5%, holding the largest shareholder shall comply with the conditions laid down in article seventh.
    Futures companies affiliated shareholders the shareholding reaches 100%, holding the largest shareholder shall comply with the conditions laid down in article eighth of this approach. Tenth Article application established futures company, should to China SFC submitted following application material: (a) established futures company applications; (ii) company articles draft; (three) business plans; (four) sponsors list and audit report; (five) intends appointments senior management personnel and practitioners list, and resume and related qualification proved; (six) developed of futures business system, and internal control system and risk management system text; (seven) site, and equipment, and funds proved file; (eight) lawyer firm issued of legal submissions
    And (IX) other materials prescribed by the CSRC.
    11th futures companies established in accordance with this approach, you can engage in commodity futures brokerage business; in other futures business, and shall obtain the relevant qualification.
    12th article futures company application financial futures brokers business qualification, should has following conditions: (a) application recently 2 months of risk regulatory index continued meet provides of standard; (ii) has sound of company governance, and risk management system and internal control system, and effective implementation; (three) meet China SFC futures margin security save tube monitoring of provides; (four) has engaged in financial futures brokers business of detailed plans; (five) business facilities and technology system meet related technology specification and run status good;
    (Six) senior management personnel near 2 years within not trained criminal punishment, not for illegal violations business trained administrative punishment, no bad credit records, and not exists for suspected illegal violations business is was right to organ survey of case; (seven) not exists was China SFC and sent institutions take futures trading Management Ordinance 59th article second paragraph, and 60th article provides of regulatory measures of case; (eight) not exists for suspected illegal violations business is was administrative, and judicial organ filed survey of case; (I) within the last 2 years not because of illegal operations subjected to criminal punishment or administrative punishment. But futures company holding shareholders or actual control people change, senior management personnel change proportion over 50%, on appeared above case has responsibility of senior management personnel and business head has is not company served, and has rectification completed and by Futures company residence to of China SFC sent institutions acceptance qualified of, can not by this limit; (10) holding shareholders net worth not below Yuan 30 million Yuan; (11) holding shareholders and actual control people near 2 years within not trained criminal punishment,
    Not because of illegal operations have received administrative punishment, and there is no suspicion of illegal business operations are entitled to initiate an investigation and (12) other conditions stipulated by the CSRC based on prudent regulatory principles. 13th article futures company application financial futures brokers business qualification, should to China SFC submitted following application material: (a) financial futures brokers business qualification applications; (ii) stamped company seal of license and business license copies; (three) shareholders will or Board on futures company application financial futures brokers business qualification of resolution file; (four) application recently 2 months month of futures company risk regulatory report, and the application recently 2 months of risk regulatory index continued meet provides standard of written guarantee ; (Five) company governance, and risk management system and internal control system text and the implementation situation report; (six) engaged in financial futures brokers business of plans book; (seven) business facilities and technology system run situation report; (eight) senior management personnel situation table, and main sector head situation table and practitioners situation table; (nine) by has securities, and futures related business qualification of Accountants firm audit of Qian 1 years degrees financial report; application day in second half of of, Also should provides by audit of half annual financial report; (10) holding shareholders of by has securities, and futures related business qualification of Accountants firm audit of recently a period of financial report; (11) lawyer firm on futures company whether meet this approach 12th article subsection (six) items, and subsection (eight) items, and subsection (nine) items and subsection (11) items provides of conditions, and shareholders will or Board resolution whether legal issued of legal submissions; (12) if exists this approach 12th article subsection (nine) items provides of case of,
    Futures should also be provided of the domicile of the company issued by the local Office of the China Securities Regulatory Commission acceptance of rectification of specific submissions (13) other materials prescribed by the CSRC.
    14th futures company of the change of ownership in any of the following circumstances shall be approved by the China Securities Regulatory Commission: (a) a single shareholder's stake increased to over 5%, or associated relationship between total shareholders equity ratio increased to more than 5%; (b) holders of 5% more of the equity interest of shareholders equity, or associated relationship and 5% per cent owned by total shareholders ' equity.
    15th article futures company change equity has this approach 14th article by column case of, should meet following conditions: (a) intends change of equity not exists was seized, and freeze, case; (ii) futures company and shareholders Zhijian not exists cross holding of case, futures company not exists for equity by let party provides any form financial support of case; (three) involved of shareholders meet this approach seventh article, and eighth article, and Nineth article provides of conditions.
    16th article futures company change equity has this approach 14th article by column case of, should to China SFC submitted following application material: (a) change equity applications; (ii) shareholders will on change equity of resolution file; (three) equity transfer contract, and other shareholders gave up priority purchase right of commitment book; (four) change Hou futures company shareholders equity background situation figure; (five) indirect holds futures company 5% and the above equity of natural situation declared table; (Six) futures company on change Hou shareholders Zhijian whether exists associated relationship, and Futures company whether for equity by let party provides any form financial support of situation description; (seven) intends increased funded amount of shareholders of shareholders will or Board made of related resolution; (eight) intends increased funded amount of shareholders and meet this approach Nineth article provides of shareholders of basic situation report; (nine) intends increased funded amount of shareholders and meet this approach Nineth article provides of shareholders of audit report;

    (10) is intended to increase the amount of shareholders and in accordance with the provisions of article Nineth shareholders with regard to the feasibility of investing in futures companies report and plan; (11) law firm provide legal opinion letters, (12) other materials prescribed by the CSRC.
    17th article futures company change registered capital, should meet following conditions: (a) change Hou registered capital not below by engaged in of futures business of registered capital minimum limit; (ii) simulation calculation of change registered capital Hou of net capital and other financial index meet risk regulatory index standard; (three) increased registered capital of, intends increased funded or by let equity of shareholders should meet this approach seventh article, and eighth article, and Nineth article of provides.
    18th article futures company change registered capital, should by China SFC audit, futures company should to China SFC submitted following application material: (a) change registered capital applications; (ii) shareholders will on change registered capital of resolution file; (three) shareholders change funded of contract, and other shareholders gave up priority purchase right of commitment book; (four) change registered capital of detailed programme; (five) simulation calculation of change registered capital Hou of balance sheet, and risk regulatory report;
    (F) article 16th of this approach (d) through (11) provision of material, (VII) other materials prescribed by the CSRC.
    Article 19th future change of ownership or the registered capital of the company, a single shareholder or associated futures company 100% owned by shareholders to be the relationship between CSRC based on prudent regulatory principles to review, make a decision of approval or disapproval. 20th futures company changes its legal representative, the legal representative should have the qualifications to be appointed. Future agency of the China Securities Regulatory Commission of the domicile of the company shall submit the following application materials: (a) the application for change of legal representative; (b) the shareholder resolution on the change of legal representative of the file.
    As otherwise provided by the articles of the company, from its provisions; (c) the qualification certificate of the legal representative to be appointed; (d) other material provisions of the CSRC. 21st futures company changes its domicile, should handle customers ' margin positions and, to be moved to shelters and facilities to be used should be consistent with future business needs.
    Futures companies in the China Securities Regulatory Commission jurisdiction of different agencies to change their place of residence, and shall comply with the following conditions: (a) sustainable management rules, (ii) business records without a major violation of in the past 2 years, no major risk events, and (iii) other conditions stipulated by the CSRC based on prudent regulatory principles.
    22nd article futures company change residence, should to intends moved to China SFC sent institutions submitted following application material: (a) change residence applications; (ii) change residence of detailed plans; (three) intends change Hou of residence ownership or right proved and fire test qualified proved; (four) properly processing customer margin and positions of report; (five) China SFC provides of other material.
    23rd article futures company application established sales, should has following conditions: (a) not for suspected illegal violations business is was right to organ survey, near 1 years within not for illegal violations business by administrative punishment or criminal punishment; (ii) application recently 3 months meet futures company risk regulatory index standard; (three) meet about customer assets protection and Futures margin security save tube monitoring of provides; (four) company governance and internal control system meet about provides and effective implementation;
    (E) the proposed responsible person has the qualifications and business workers eligible for futures practitioners (vi) operational responsibilities clear, rational division of labor, compatible with the sales department business plan; (g) the business premises and facilities meet future business needs; (VIII) other conditions stipulated by the CSRC based on prudent regulatory principles.
    24th article futures company application established sales, should to intends established sales location of China SFC sent institutions submitted following application material: (a) established sales applications; (ii) intends established sales of resolution file; (three) application recently 3 months month of risk regulatory report; (four) sales of management system text; (five) intends any head served qualification application material or proved; (six) intends appointments practitioners roster, and Futures practitioners qualification certificate copies;
    (VII) place of qualification certificate for proof of ownership or right and fire and (VIII) other materials prescribed by the CSRC.
    25th head of futures companies change, charge must have the appropriate qualifications to be appointed.
    Futures company shall submit to the Agency of the China Securities Regulatory Commission, where the sales department about the change charge application and prospective principal qualification certificate.
    Article 26th futures sales change of business premises of the company, customers ' margin positions and should be properly addressed, to be moved into place and the facilities to be used should meet the needs of the futures business.
    Futures company should to sales location of China SFC sent institutions submitted following application material: (a) change sales business places applications; (ii) change sales business places of detailed plans; (three) on customer margin and positions properly processing of situation report; (four) intends change Hou of business places ownership or right proved and fire test qualified proved; (five) China SFC provides of other material.
    Futures company sales office business premises in these measures is limited to change its place of business within the local Office of the China Securities Regulatory Commission on the same area.
    27th futures companies stop, should be properly handled to the customer's deposit and other assets, to settle the futures business and termination of business activities.
    Futures company shall submit to the Agency of the China Securities Regulatory Commission, where the sales department application materials for the following: (a) the termination of Office applications; (b) the proposed resolution terminated sales documents; (c) on the handling of customers ' deposits and other assets, to settle the futures business and termination of business activities report; (d) other material provisions of the CSRC.
    28th futures companies due to force majeure and other legitimate reason to apply for closure, should handle clients ' bonds and other assets, return or transfer the customer. Futures companies resume operations, shall comply with the futures company continued operating rules.
    Closed after the expiry, the futures company failed to restore business operations or are not consistent with sustainable operating rules, the China Securities Regulatory Commission in accordance with the regulations on futures trading provisions of the first paragraph of the article 21st of the cancellation of its futures business licenses.
    29th futures company closed down, following application materials should be submitted to the China Securities Regulatory Commission: (a) the application for business; (b) close file resolution, (iii) regarding the handling of customer deposits and other assets, to settle the futures business report and (iv) other material provisions of the CSRC.
    Article 30th futures companies dissolved, bankrupt, should proceed with the proper handling of customer deposits and other assets, to settle the futures business.
    Futures companies were revoked business licenses of all futures, should handle clients ' bonds and other assets, to settle the futures business Corporation continues to exist, it shall name, line of business, and the company's articles, such as business registration, on behalf of the surviving company shall not continue to futures companies in the futures business, its name must not have "Futures" or similar words.
    31st futures company establishment, alteration, dissolution, bankruptcy, disbanded the futures business license or business establishment, alteration and termination of futures companies should notice in the newspapers designated by the CSRC or the media. 32nd futures companies and their sales licenses uniformly printed by the China Securities Regulatory Commission.
    Original or duplicate license is lost or destroyed, the futures company should be appointed by the China Securities Regulatory Commission on 30th press declared invalid or the media, and published statements apply to the China Securities Regulatory Commission again.
    33rd chapter corporate governance the futures company shall in accordance with clear responsibility, strengthening the principle of checks and balances, strengthen risk management, establish and improve corporate governance.
    Article 34th futures company and its controlling shareholder in the business, personnel, assets, finance, venues, and so on should be strictly separated, independent, independent accounting.
    Controlling shareholder, actual control of the futures company cannot exceed the futures company futures companies, boards of Directors appointment and removal of Directors, supervisors and senior management staff, or illegal interventions client earnest money deposit, trading, settlement, risk management, financial accounting and business management, and other management activities.
    Futures company may pledge makes minimum gains, dividends to shareholders; futures companies to shareholders and actual controllers and its affiliates provide futures broking services, shall not reduce the risk management requirements. 35th futures company shareholders ' meeting shall be in accordance with the company law and the articles of incorporation, consideration and vote on the matter within the terms of reference.
    Shareholders ' meeting shall convene at least one meeting per year.
    Shareholder shall exercise voting rights in proportion to the amount of futures companies. 36th article futures company of shareholders and the actual control people appeared following case one of of, should in 3rd within notification futures company: (a) by holding some futures company equity was freeze, and seized or was forced implementation; (ii) pledge by holding some futures company equity; (three) decided transfer by holding some futures company equity; (four) cannot normal exercise shareholders right or bear shareholders obligations, may caused futures company governance of major defects; (five) suspected serious illegal violations business, was right to organ survey, and Coercive measures; (f) name change; (VII) significant assets, merger, Division or debt restructuring; (h) the revocation, receivership, trusteeship, closing or dissolution, bankruptcy;

    (IX) other circumstances that may affect the future ownership changes.
    Futures company shareholders occurred Qian paragraph provides case of, futures company and related shareholders should in 5th within to futures company residence to of China SFC sent institutions submitted written report; futures company actual control people occurred Qian paragraph subsection (five) items to subsection (eight) items by column case of, futures company and actual control people should in 5th within to futures company residence to of China SFC sent institutions submitted written report.
    37th article futures company has following case one of of, should immediately written notification all shareholders, and to futures company residence to of China SFC sent institutions report: (a) company or its Director, and prison thing, and senior management personnel for suspected major illegal violations was right to organ filed survey or take forced measures; (ii) intends replaced Chairman, and General Manager; (three) financial status deterioration, not meet China SFC provides of risk regulatory index standard; (four) customer occurred major overdraft, and wear warehouse;
    (E) the dramatic events that occurred, the futures company and customer benefits have or might have a significant adverse effect, (vi) other circumstances that may affect the futures company a going concern.
    Business Department of the China Securities Regulatory Commission and its agencies of futures companies and to rectification notices, regulatory measures and administrative penalties, and Futures shall be notified in writing to all shareholders of the company. Article 38th futures company shall establish a Board of Directors. Board of Directors shall hold at least two meetings per year.
    Board of Directors meeting minutes shall be true, accurate and complete.
    39th futures Corporation Board of Directors shall exercise their powers under the Act, but should also carry out the following functions: (a) to consider and decide on the customer deposit security deposit system to ensure that customer deposit depository in accordance with the relevant client assets protection and security futures margin deposit requirements for monitoring, (ii) to consider and decide on risk management and internal control systems.
    40th with the introduction of futures exchange clearing member classification settlement systems qualification of futures companies and Futures company shall be independent directors.
    Independent directors should be independent, not besides the directors of other positions in the futures company, shall not be the futures company and its controlling shareholder, actual control or other associated personnel likely to interfere with their independent and objective judgment. Independent directors shall abide by the laws, administrative regulations and the provisions of the CSRC, abide by the articles of incorporation, to futures companies have a duty of loyalty and diligence obligation, maintains a client, futures and the legitimate rights and interests of all the shareholders of the company.
    Futures company directors, supervisors and senior management personnel shall actively cooperate with and assist the independent directors carry out their duties. 41st futures company should be established in accordance with the provisions of the company law Board of supervisors and supervisors, to protect the Board of supervisors and supervisors of the company operating right.
    Board of supervisors or the supervisor shall, in accordance with the company law and the articles of Association of the company to fulfil its responsibilities.
    42nd futures articles of Association shall be the legal representative of foreign business activities on behalf of companies, violation of Board of Directors of the company's business plan and security futures margin deposit, risk management, internal control systems, or other acts of a resolution of the Board, legal representative shall bear the responsibility and corresponding accountability program.
    Article 43rd Futures should be a Chief Risk Officer of the company, management of the futures company in compliance, risk management, monitoring and inspection.
    Chief Risk Officer, suspected use and misappropriation of customer margin violation or possible risks should be dispatched immediately to the CSRC and the report of the Board of Directors of the company. The futures company intends to dismiss a Chief Risk Officer, should be justified and reported to the local Office of the China Securities Regulatory Commission.
    Chief Risk Officer, failure to perform duties, the China Securities Regulatory Commission and its agencies the authority to order the replacement. 44th futures company Chairman of the Board, General Manager, Chief Risk Officer, relationship exists between near relatives.
    Chairman and General Manager, not by one person.
    45th reasonable in futures companies set up business units and their functions, establishment of trading, settlement, risk management, finance and so on post responsibility system, focused on control over key positions and business to ensure separate front, middle and back office operations.
    Futures trading, clearing, financial transactions should be handled separately by different departments and personnel.
    Article 46th futures company shall establish a risk management department or position, business risk management and control of futures companies.
    Futures company shall establish a compliance audit department or position, the futures company's management and legal compliance review and audit.
    47th futures company shall, according to the China Securities Regulatory Commission provides for unification of sales closing unity, unified risk management and capital allocation, financial management and accounting, establishing norms, improve the sales post responsibility system and business rules.
    Futures company may cooperate with the other joint venture, Management Sales Department, sales contract, lease, or may not be delegated management.
    Fourth chapter 48th futures brokerage business rules should be in accordance with the principle of prudent operation, establishment and effective implementation of the risk management, internal control, futures margin custody business systems and processes, maintaining financial stability and continue to meet the requirements of the China Securities Regulatory Commission regulatory standard, ensure that customer transactions and asset security.
    49th futures companies should follow the principle of good faith, the skill of a professional, diligent implementation of the customer's principal, maintains the customer the legitimate rights and interests.
    Futures companies should avoid conflicts of interest with clients when these cannot be avoided, should ensure that client interests first.
    50th article except futures trading Management Ordinance 26th article provides of case outside, following personnel shall not to I or others name engaged in futures trading: (a) no civil capacity people or limit civil capacity people; (ii) futures company of staff and spouse; (three) China SFC and sent institutions, and Futures Exchange, and Futures margin security save tube monitoring institutions and China futures industry association of staff and spouse.
    51st customers opened accounts, must be proof of a Chinese citizen or a Chinese legal person status or other economic organizations in the legal documentation, except as otherwise provided by the China Securities Regulatory Commission. 52nd futures company in front of the customers opened accounts, should be presented to the customer on the risk of futures trading instruction, signed by the customer already knows the contents of the futures business risk description and enter into a futures contract.
    Futures company shall not enter into the futures contract customers to open an account.
    The futures brokerage contract guidelines, and of the risks of futures trading instructions content and format developed by the China Futures Association.
    Futures company shall, in accordance with the guidelines on the futures contracts update the formatted text of the futures contract, the China futures industry association review of the record, and reported to the local Office of the domicile of the China Securities Regulatory Commission for the record.
    Futures company release of advertising material shall, within 5 working days from the date of issue reported to the local Office of the domicile of the China Securities Regulatory Commission for the record.
    53rd futures companies should fully disclose the risks of futures trading to customers in its place on nights related to futures trading regulations, the rules of the Futures Exchange, and exposes the underlying futures brokerage business process, practitioners certificate and other information available to customers.
    In futures contracts, the futures company the company Web site and place the tips China futures industry association website that customers can query their employees eligible to public information. 54th futures company shall comply with the requirements for customers to apply for transaction code.
    When customers account for futures company, shall promptly apply for cancellation of the customer's transaction code to the Futures Exchange.
    55th customers need to authorize others to carry out orders, allocate capital and other matters shall be specified in the futures contract agent and its agent permissions, Convention liaison, command mode and set aside the trustee signed. 56th customer via written, telephones, computers, the Internet and other means of issuing orders.
    Issued orders in writing, the customer shall fill out the written order form; issued orders by telephone, the futures company shall sound; to computers, the Internet and other means of issuing orders, the futures company the transaction instructions should be saved in an appropriate manner.
    57th futures companies to provide Internet service, Internet trading risk management system should be established, and special tips for Internet trading risks for customers.
    Article 58th future company shall be passed in accordance with the principle of giving priority to customer orders.
    59th futures companies should be in the futures brokerage contract risk management standards, criteria and disposal measures. 60th futures companies should provide, upon closing of the transaction for customers daily settlement reports.
    Customers should follow the futures contract's time and access to trading and clearing the contents of the report.
    Futures companies should be based on futures exchanges or clearing qualification agencies marked to the market settlement results in customers, balancing account the content, format, and date should be consistent with the Futures Exchange.
    In futures contracts, the futures company the company Web site and customers can place prompted futures margin security deposit monitor query service systems, query results of settlement of futures trading and other information about futures trading. 61st customer transaction billing disagrees with the content of the report, should be in the futures contract futures companies to submit written objections within the time customers for clearing the contents of the report without objection, it should be confirmed according to the futures contract.
    Customer transaction settlement report has not been confirmed, nor raised objections in the futures contract, considered a confirmation of transaction settlement report.
    Customer has objections, futures in the futures brokerage companies shall be verified within the time stipulated in the contract. 62nd futures company wrong order processing business rules should be developed and implemented.

    63rd futures company shall establish customer data records, in addition to survey and inspection, customers should be kept confidential. 64th futures company shall establish and perfect customer complaint handling system.
    The futures company customer complaint material and results should be archived.
    65th among futures firms or futures company futures disputes with customers, can draw attention to the China futures industry association and the Futures Exchange settled. 66th customer trust relationship ended and futures companies, should go through the relevant cancellation procedures.
    Customer futures company may be cancelled funds account, transaction codes to lend to others.
    67th futures companies shall set up trading, clearing, accounting data backup system.
    Related accounts, change, cancellation of customer information files from the futures broker for at least 20 years from the date of termination of the contract; order records and the clearing record, wrong records archive, customer complaints, and other business records should be maintained for at least 20 years.
    Futures companies saved or backup data by electronic data, shall ensure that the electronic data of real, reliable, take effective measures to prevent the data from being altered, damaged, save the electronic data should be in a position to convert paper forms.
    68th futures company can entrust other institutions approved by the China Securities Regulatory Commission in the intermediary business. Fifth chapter article 69th futures customer asset protection company deposit futures margin belongs to all customers, except in accordance with the regulations on futures trading article 29th of transfer of customer deposits, but no unit or individual is prohibited any form of occupation, misappropriation. Futures company bankruptcy or liquidation, customer deposits and offset other assets belonging to the estate or the liquidation of the margin property.
    Not due to customer's own debt or other circumstances as stipulated by laws, administrative regulations, shall not be sealed up or frozen or deducted or enforce customer deposits and other assets offset margin.
    Customers of margin and Futures independent of company's own assets and management.
    70th futures company shall with the approval of the futures margin deposit Bank to open a margin account.
    Futures open, alter or rescind the futures margin accounts, should be sent to the domicile of the China Securities Regulatory Commission on institutions and security futures margin deposit monitor, record, and disclosed to the customer in the manner prescribed futures margin account opening, change or cancellation.
    Customer deposit futures through futures margin should be safe custody monitoring Web sites disclose futures margin accounts.
    Futures margin account means the futures company in futures margin deposit bank that is used to store and manage customer deposits of special deposit account, including the futures company located on the Futures Exchange opened, for conducting futures business with the Futures Exchange funds earmarked for funds between accounts.
    71st futures company depository of customer deposits should be fully stored in futures margin accounts and futures exchanges in the special settlement account, is strictly prohibited in the futures margin accounts and special settlement account for Futures Exchange store customer deposits.
    72nd customers should register with the futures company in my name for access to margin futures settlement account.
    Futures companies and customers should be made by filing the futures margin accounts and settlement account transfer access registration margin.
    73rd futures companies should be provided for in the futures margin monitoring the security deposit, futures margin security custody monitoring agencies to submit in a timely manner information.
    74th futures margin deposit Bank in accordance with relevant regulations of the China Securities Regulatory Commission to the futures margin security custody monitoring agencies to submit information about the futures margin, future requirements of the company shall, according to the China Securities Regulatory Commission and its agencies will futures margin transferred to other eligible futures margin deposit Bank.
    75th futures companies should be in accordance with the rules of the Futures Exchange, using its own capital paid into the settlement of guarantees, settlement reserve, reserve and maintain the minimum amount of settlement and other special funds to ensure the normal client futures trading and customer margin of safety.
    76th customer defaults caused by insufficient margin in the futures trading, futures companies should be based on risk and own capital paid, no other customer deposits.
    Shall, in accordance with the provisions of the futures company, risk management and use of reserve and shall not be appropriated for other purposes.
    Sixth regulatory 77th futures companies should be in accordance with the provisions of chapter regularly submitted annual reports, monthly reports and other relevant information.
    Futures company directors, senior executives, Treasurer the annual report should be signed to confirm; the legal representative, the management of the main owner and Chief Financial Officer monthly reports should be signed to confirm.
    Sign the futures company annual reports, monthly reports, officers should ensure that the content of the report is true, accurate and complete; disagrees with the content of the report, should indicate their opinions and reasons.
    78th article China SFC and sent institutions can requirements following institutions or personal, in specified of term within submitted and Futures company business management and financial status, related of information: (a) futures company and Director, and prison thing, and senior management personnel and the other staff; (ii) futures company of shareholders, and actual control people or other associated people; (three) for futures company provides related service of Accountants firm, and lawyer firm, and assets assessment institutions, intermediary service institutions.
    79th article futures company of shareholders, and actual control people or other associated people in futures company engaged in futures trading of, futures company should since account of day up 5 a days within to its residence to of China SFC sent institutions record, regularly to all shareholders, and Board and Board of supervisors or prison thing report related trading situation, and regularly to its residence to of China SFC sent institutions report related trading situation. 80th article occurred following matters one of of, futures company should in 5 a days within to its residence to of China SFC sent institutions written report: (a) change name, and company articles; (ii) occurred this approach 14th article provides case yiwai of equity change; (three) made terminated business, major resolution; (four) appointment Director, and prison thing, and senior management personnel, and financial head, and sales head, or senior management personnel of Division occurred change; (five) was right to organ filed survey or take forced measures
    (Vi) other matters prescribed by the CSRC.
    Affecting or likely to affect the futures company management, finances or the security of clients ' assets and significant events, the futures company shall immediately report to the local Office of the China Securities Regulatory Commission, explains the cause of the incident, the current state, the possible consequences and responses or measures.
    81st futures companies to employ or dismiss accounting firms, shall take a decision within 5 working days from the date sent to the domicile of the CSRC report; dismissed the accounting firm shall state the reasons.
    Agency of the China Securities Regulatory Commission has reason to believe that accounting firms are not suitable for audit business of futures company, futures companies may be required to be replaced.
    82nd futures company shall, according to the China Securities Regulatory Commission disclosed its basic information, business management and other relevant information.
    83rd article relating to institutional and individual submissions, provide or disclose information, the information shall be true, accurate and complete, and may not have any false record, misleading statement or material omission.
    84th China Securities Regulatory Commission may appoint an agency to futures companies or sales of regular or occasional spot checks.
    Agency of the China Securities Regulatory Commission on the area of futures companies or sales department to conduct inspections.
    The China Securities Regulatory Commission and its agencies to perform their duties during inspections, the inspectors shall not be less than 2, and proof of legal documents and letters, or divulge any business secret obtained. 85th article China SFC and sent institutions right to take following measures, on futures company or sales of business management, and business activities, and financial status, for check: (a) asked futures company and sales of staff, requirements its on was check matters made explained, and description; (ii) check out, and copy and was check matters about of file, and information; (three) query futures company and sales of futures margin account; (four) check futures company and sales of trading, and
    Settlement and financial computer systems.
    86th article China SFC and sent institutions think futures company may exists following case one of of, can requirements its hired intermediary service institutions for special audit, and assessment or issued legal views: (a) futures company of annual report, and monthly report or temporary report, exists false records, and misleading sex statement or major missed; (ii) violation about customer assets protection and Futures margin security save tube monitoring provides or risk regulatory index management provides;
    (C) another major identified by CSRC based on prudent regulatory principles.
    Futures companies should cooperate with the relevant intermediary service institutions, provide relevant documents and information.
    87th futures companies and their shareholders and actual controllers or other associated people, for futures companies providing related services accounting firms, law firms, asset evaluation and other intermediary service organizations suspected of violation of the relevant provisions of these measures, the China Securities Regulatory Commission and its agencies can talk with Director and relevant staff regulations, ordered corrective action and issue a letter of warning. 88th article futures company or its sales has following case one of of, China SFC and sent institutions can according to futures trading Management Ordinance 59th article of provides, take corresponding of regulatory measures: (a) company governance not sound or not effective implementation, sector or post set exists larger defects, key business post or personnel absence or not perform due duties, situation, may effect futures company continued business;

    (Ii) futures brokers business rules not sound or not effective implementation, risk management or internal control, exists larger defects, business management chaos, may effect futures company continued business or customer trading security; (three) futures settlement business rules not sound or not effective implementation, may damage other futures company or customer of lawful rights and interests of; (four) not meet about customer assets protection or futures margin security save tube monitoring provides, may effect customer assets security; (Five) not by provides implemented sales unified management system, business management exists larger risk or risk hidden; (six) not by provides delegate Middle introduced business, business activities exists larger risk or risk hidden; (seven) trading, and settlement or financial system exists major defects of, may caused about data distortion or damage customer lawful rights and interests of; (eight) shareholders, and actual control people or other associated people appeared closed, and major risk or suspected serious illegal violations, major situation,
    May affect future corporate governance or sustainable management, (IX) may affect the financial soundness of disputes, arbitration, litigation, (10) issued by or submitted, provided the relevant reports, material or information is false, misleading or omitted (11) does not meet the other continuing operating rules or other risk situations.
    After corrective action still does not meet the operating conditions of the futures business, agency of the China Securities Regulatory Commission shall have the right to close the sales department.
    89th without the approval of the China Securities Regulatory Commission, any person or entity and its associated holding futures company without authorization more than 5% shares, or by providing false documents and other means to become future shareholders, the China Securities Regulatory Commission may order its deadline to transfer their ownership.
    The shares prior to the transfer, do not have the right to vote, the right to dividends. 90th article futures company of shareholders, and actual control people or other associated people has following case one of of, China SFC and sent institutions can ordered its deadline rectification: (a) occupied futures company of assets, may effect futures company continued business; (ii) directly appointment futures company of Director, and prison thing, and senior management personnel, or illegal intervention futures company business management activities; (three) shareholders not according to funded proportion exercise voting; (four) submitted, and provides or issued of about report, and
    Materials or information such as false, misleading statements or omissions.
    Futures companies resulting from cases in the preceding paragraph does not comply with sustainability operating rules or operating risks, the China Securities Regulatory Commission and its agencies may, in accordance with the provisions of the regulations on futures trading article 59th of ordering the controlling shareholders to transfer their stock right or restricting the exercise of shareholders ' rights.
    Seventh chapter legal liability article 91st without the approval of the China Securities Regulatory Commission, any person or entity and its associated holding futures company without authorization more than 5% shares, or by providing false documents and other means to become future shareholders, if the circumstances are serious, be warned, fined or fined a maximum of 30,000 yuan.
    92nd futures companies and their sales offices to accept without account opening procedure units or individuals commissioned by futures trading, or customer funds accounts lent, transaction codes used by other units or individuals, be warned, fined or fined a maximum of 30,000 yuan. 93rd accounting firms, law firms, asset evaluation and other intermediary service organizations in accordance with the provisions to fulfil their reporting obligations, provide or issue reports, materials, incomplete, correction, confiscation of revenues, separately or concurrently fined less than 30,000 yuan.
    In charge and other personnel directly responsible for warning and fines of between 30,000 yuan.
    94th article futures company and sales has following behavior one of of, according to futures trading Management Ordinance 70th article punishment: (a) not according to provides will customer margin and Futures company of owned assets mutual independent, and respectively management; (ii) not according to provides deposit settlement guarantees gold, and settlement reserves, or not maintained minimum amounts of settlement reserves, dedicated funds; (three) on shareholders, and actual control people and associated people of futures trading reduced risk management requirements, against other customer lawful rights and interests of; (Four) to joint venture, and cooperation, and Associates way established sales, or will sales contracting, and rental to others, or violation sales concentrated unified management provides; (five) in futures margin account and Futures Exchange dedicated settlement account zhiwai store customer margin; (six) to futures margin security save tube monitoring institutions submitted of information exists false, and misleading or major missed; (seven) occupied customer margin; (eight) violation China SFC about settlement business management provides,
    Using settlement business relationship damage other futures company and customer lawful rights and interests of; (nine) violation provides delegate Middle introduced business, damage customer lawful rights and interests of; (10) violation China SFC about risk regulatory index provides; (11) refused to tie, and hinder or damage China SFC and sent institutions supervision management; (12) violation about futures investors guarantees fund management provides; (13) violation securities filling arrived margin of about provides.
    95th futures companies and their sales department has one of the following situations, in accordance with the regulations on futures trading article 71st of punishments: (a) false advertising or false advertising to entice customers to participate in futures trading, (ii) in accordance with the provisions for amendment or cancellation of the futures margin account, or does not comply with the requirements of disclosure of futures margin account information to customers.
    The eighth chapter by-laws article 96th Hong Kong and Macao service providers holding futures company apply to relevant regulations of the China Securities Regulatory Commission. 97th these measures shall come into force on April 15, 2007. May 17, 2002 released of futures brokers company management approach (China Securities supervision Management Committee makes 7th,), and China SFC released of on futures brokers company sales established, and change, and terminated about problem of notification (card prison futures word [2004]41,), and on futures brokers company change statutory representative people, and registered capital, and shareholders or equity structure, and residence about problem of notification (card prison futures word [2004]42,), and on futures brokers company established, and
                                                      Notice of dissolution, merger-related problems (Jian Zi [2004]46), the shareholder's qualifications and related issues concerning futures brokerage companies notice (Jian Zi [2005]155) repealed simultaneously.

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