Charter of the China Futures Association

Published: April 27 2001
Effective: Upon adoption by the general meeting of the members and the verification by China Securities Regulatory Commission
Interpreting authority: The board of supervisors of the China Futures Association

Main contents: According to the Charter, the China Futures Association will be a non-profit self-regulatory organization of the futures industry in China (Article 1). All futures exchanges, brokerage firms and individuals licensed to engage in futures business shall join the association (Article 4). Futures brokerage firms shall be its "organizational members", futures exchanges shall be its "special members" and individual futures professionals shall be its "individual members" (Article 18). The association, which will be registered and located in Beijing, will formulate and enforce the rules of conduct, code of practice and other self-regulation rules for the futures industry (Article 8). Other roles the association will play include mediation of disputes among its members, provision of professional training, the examination of and the issue of certificates to its members and the sanctioning of rule violating members (Articles 10, 11 and 14). The association will be run by a board of 25 to 30 elected supervisors (Article 29). The daily operation of the association will be handled by the secretary of the board (Article 37).
Related legislation: PRC, Company Law (Amended), Oct 27 2005, CLP 2005 No.10 p21