To apply for the establishment of a futures company, it shall comply with the provisions of the Company Law of People's Republic of China (PRC) and meet the following conditions:
(a) the minimum registered capital is 30 million yuan;
(2) Directors, supervisors and senior managers are qualified to hold posts, and employees are qualified to engage in futures business;
(3) Having articles of association that comply with the provisions of laws and administrative regulations;
(4) The major shareholders and actual controllers have sustained profits and a good reputation, and have no record of major violations of laws and regulations in the last three years;
(5) Having qualified business premises and business facilities;
(6) Having a sound risk management and internal control system;
(seven) other conditions stipulated by the the State Council futures regulatory agency.
The State Council futures regulatory agency may raise the minimum registered capital according to the principle of prudent supervision and the risk degree of various businesses. Registered capital shall be paid-in capital. Shareholders shall make capital contribution in monetary or non-monetary property necessary for the operation of the futures company, and the proportion of monetary contribution shall not be less than 85%.
The State Council futures regulatory agency shall, within 6 months from the date of accepting the application for the establishment of a futures company, conduct a review according to the principle of prudent supervision, and make a decision on approval or disapproval.
Without the approval of the State Council Futures Regulatory Authority, no unit or individual may entrust or accept others to hold or manage the shares of futures companies.
A futures company shall implement a licensing system for its futures business, and the the State Council Futures Regulatory Authority shall issue licenses according to its commodity futures and financial futures business. In addition to applying for domestic futures brokerage business, futures companies can also apply for overseas futures brokerage, futures investment consulting and other futures business as stipulated by the the State Council Futures Regulatory Authority.
A futures company shall not engage in activities unrelated to futures business, except as otherwise provided by laws, administrative regulations or the futures regulatory authority of the State Council.
A futures company shall not engage in or engage in futures proprietary business in disguised form.
A futures company shall not provide financing for its shareholders, actual controllers or other related parties, and shall not provide external guarantees.
Futures companies engage in brokerage business, accept the entrustment of customers, and conduct futures trading for customers in their own names, and the trading results are borne by customers.
The relationship between futures companies and customers is essentially a contractual relationship.