China Securities Regulatory Commission, Measures on the Administration of the Qualifications of the Directors, Supervisors and Senior Management Personnel of Futures Companies

Promulgated: July 4 2007
Effective: As of date of promulgation

Applicability: The term "senior management personnel" refers to the general manager, deputy general manager, chief risk officer (hereinafter, Management Personnel), person in charge of finance, person in charge of the sales department and personnel who actually perform the above duties (Article 2).

Main Contents: A person applying to be an independent director, the chairman of the board of directors, the chairman of the supervisory board or a member of Management Personnel of a futures company shall pass the qualification test recognized by the China Securities Regulatory Commission (CSRC). A person applying to be the chairman of the board of directors, chairman of the supervisory board, general manager or deputy general manager shall also have at least three years of experience in the futures business or at least four years of experience in another financial business or at least five years of experience in practising law or accounting. A person intending to be the general manager or deputy general manager shall also have assumed the position of the person in charge of a department or a higher level position of a financial institution such as a futures company or a securities company for no less than two years or have management work experience in equivalent positions (Articles 8, 10-12).