Article 20 The guarantee fund shall compensate the futures investors for their margin losses according to the following principles:
(1) fully compensate each individual investor for the loss of the deposit below RMB 65,438+10,000 (including RMB 65,438+10,000), and compensate 90% for the loss of the deposit exceeding RMB 65,438+10,000;
(2) Full compensation shall be paid to each institutional investor for the margin loss below RMB 654.38+10,000 (including RMB 654.38+10,000), and 80% for the margin loss exceeding RMB 654.38+10,000.
If the existing security fund is insufficient for compensation, it shall be compensated by the follow-up security fund.
Article 21 Before using the guarantee fund, the China Securities Regulatory Commission and the guarantee fund management institution shall supervise the futures company to verify the investors' margin rights and losses, actively clean up the assets and realize the disposal, and shall first make up the margin gap with its own funds and realized assets. Only when it is not enough to make up or when the situation is critical can we decide to use the security fund.
Twenty-second guarantee funds do not compensate investors for the loss of margin suffered by participating in illegal futures trading.
Institutional investors who participate in futures trading in their own names shall be compensated in accordance with the compensation rules for institutional investors.
Twenty-third after the guarantee fund is used to compensate the margin loss of futures investors, the guarantee fund management institution shall obtain the corresponding compensation right according to law and may participate in the liquidation of futures companies according to law.
Twenty-fourth security fund management institutions shall promptly report to the China Securities Regulatory Commission and the Ministry of Finance on the use, compensation and recovery of security funds.