Article 9 of the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Managers of Futures Companies stipulates that the following persons shall not serve as independent directors of futures companies: (1) persons who work in futures companies or their related parties, close relatives and major social relations personnel; (2) Persons who work in the following institutions, their close relatives and major social relations personnel: units that hold or control more than 5% of the shares of futures companies, the top five shareholder units of futures companies, and institutions that have business ties or interests with futures companies; (3) Persons who provide financial, legal and consulting services for futures companies and their related parties and their close relatives; (4) Persons under any of the circumstances listed in the first three items in recent 1 year; (5) Persons who hold positions other than independent directors in other futures companies; (six) other personnel identified by the China Securities Regulatory Commission.