(1) It has been operating continuously for more than 5 years, and has not been severely punished by the regulatory authorities or administrative and judicial organs of the country or region where it is located in the last 3 years;
(two) the management has good professional quality and management ability;
(3) Having a sound internal control system and risk management system;
(4) It has a good international reputation and business performance, and its business scale, income and profit have been among the highest in the world in the past three years, and its long-term credit has maintained a high level in the past three years;
(5) Other prudential conditions stipulated by the China Securities Regulatory Commission.
If a number of overseas shareholders with related relationships hold more than 5% of the shares of a futures company, each overseas shareholder shall meet the conditions listed in the preceding paragraph. Article 6 In addition to indirectly holding the equity of a futures company through domestic securities companies and other circumstances stipulated by the China Securities Regulatory Commission, if an overseas investor actually controls more than 5% of the equity of a futures company through investment relationships, agreements or other arrangements, it shall be converted into direct shareholding.
An overseas investor who actually controls more than 5% of the shares of a futures company alone or together with related parties and concerted parties shall meet the conditions stipulated in Article 5 of these Measures. Article 7 Overseas shareholders shall contribute their capital in freely convertible currencies. The proportion of shares held by foreign shareholders in foreign-invested futures companies (including direct holding and indirect holding) shall conform to the arrangement of the state for opening up the futures industry. Article 8 The directors, supervisors and senior managers of a foreign-invested futures company shall meet the post requirements stipulated by the China Securities Regulatory Commission.
Senior managers of foreign-funded futures companies shall perform their duties on the spot in China. Article 9 To establish a foreign-invested futures company, an overseas institution shall register with the company registration authority and apply to the China Securities Regulatory Commission. In addition to the application documents stipulated in the Measures for the Supervision and Administration of Futures Companies, the following documents shall also be submitted to the China Securities Regulatory Commission:
(1) The audited financial statements of the overseas institution for three years before the application;
(2) A letter of explanation issued by the relevant regulatory authorities in the country or region where the overseas institution is located or by an institution recognized by the China Securities Regulatory Commission on whether the overseas institution meets the conditions stipulated in Item 1 of Paragraph 1 of Article 5, Item 5 of Article 7 and Item 2 of Paragraph 1 of Article 9 of the Measures for the Supervision and Administration of Futures Companies;
(3) Explanatory materials on whether the overseas institution meets the requirements of Item (2) and Item (3) of Paragraph 1 of Article 5 of these Measures;
(4) documents certifying that the overseas institution complies with the provisions of Item 4 of Paragraph 1 of Article 5 of these Measures;
(5) Legal opinions issued by China Law Firm;
(6) Other application documents as stipulated by the China Securities Regulatory Commission.
Where an overseas shareholder changes its equity under the circumstances specified in Article 17 of the Measures for the Supervision and Administration of Futures Companies, it shall apply to the China Securities Regulatory Commission, and the application documents shall be subject to the provisions of the preceding paragraph. Article 10 A foreign-invested futures company approved by the China Securities Regulatory Commission shall go through the relevant industrial and commercial registration procedures in accordance with the provisions of the State Administration of Foreign Exchange, pay its capital contribution in full or provide agreed cooperation conditions. Article 11 A foreign-invested futures company applying for issuing or renewing a securities and futures business license shall submit the following documents to the China Securities Regulatory Commission:
(a) a copy of the business license;
(2) Articles of association;
(3) A capital verification report issued by an accounting firm with futures-related business qualifications in China;
(4) A list of directors, supervisors, senior managers and major business personnel, as well as supporting documents that meet the post requirements and futures business qualifications;
(5) Explanatory documents of the senior management personnel performing their duties on the spot in China;
(6) Text of internal control system and risk management system;
(7) Description of the business premises and business facilities;
(eight) other documents required by the China Securities Regulatory Commission.
When applying for renewal of the securities and futures business license, the original securities and futures business license of the company shall also be submitted.
A foreign-funded futures company may not engage in futures business without obtaining a securities and futures business license issued by the China Securities Regulatory Commission. Article 12 The changes in equity of a foreign-invested futures company established after the merger or division of a foreign-invested futures company shall comply with the provisions of these Measures.