China Securities Regulatory Commission, Measures for the Administration of Futures Companies

期货公司管理办法

October 02, 2007 | BY

clpstaff &clp articles &

Futures brokerages renamed as futures companies.

Clp Reference: 3700/07.04.09 Promulgated: 2007-04-09 Effective: 2007-04-15

Promulgated: April 9 2007
Effective: April 15 2007

Main Contents: To apply to establish a futures company, the following conditions, in addition to the conditions specified in Article 16 of the Regulations for the Administration of Futures Trading, shall be satisfied:

(1) having at least 15 persons with the qualifications of futures practitioners; and

(2) having at least 3 senior managing persons with the qualifications for their positions.

The Measures detail the procedures for the establishment of, changes to and termination of the business of a futures company. Matters concerning corporate governance, brokering rules, protection of customer assets and oversight are also covered in the Measures.

Related Legislation: PRC Company Law (Amended), Oct 27 2005, CLP 2005 No.10 p.21; and Regulations for the Administration of Futures Trading, Mar 6 2007, CLP 2007 No.7 p.68

Repealed Legislation: Measures for the Administration of Futures Brokerages, May 17 2002; Circular on Issues Relevant to the Establishment of, Changes to and Closure of Business Offices of Futures Brokerages, 2004; Circular on Issues Relevant to Changes in the Legal Representative, Registered Capital, Shareholders, Equity Structure or Domicile of Futures Brokerages, 2004; Circular on Issues Relevant to the Establishment, Dissolution and Merger of Futures Brokerages, 2004; and Circular on the Qualifications of the Shareholders of Futures Brokerages and Relevant Issues, 2005

Full Analysis & Translation: See page 47

clp reference:3700/07.04.09prc reference:证监会令第 43 号promulgated:2007-04-09effective:2007-04-15

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