Trial measures for the management of risk supervision indicators of futures companies
Notice on Issuing the Trial Measures for the Management of Risk Supervision Indicators of Futures Companies [2007] No.55 Futures companies: According to the relevant provisions of the Regulations on the Management of Futures Trading, we have formulated the Trial Measures for the Management of Risk Supervision Indicators of Futures Companies, which are hereby promulgated. Please follow them. China Securities Regulatory Commission, April 2007 18 Trial Measures for the Management of Risk Supervision Indicators of Futures Companies
Edit this paragraph in Chapter I General Provisions.
first
In order to strengthen the supervision and management of futures companies, promote the internal control of futures companies and guard against risks, these Measures are formulated in accordance with the Regulations on the Administration of Futures Trading.
second
A futures company shall prepare and submit risk supervision statements in accordance with the provisions of these Measures.
essay
A futures company shall establish an internal control system suitable for risk supervision indicators, establish a dynamic risk monitoring and capital replenishment mechanism, and ensure that risk supervision indicators such as net capital continue to meet the standards.
Article 4
Before a futures company expands its business scale or makes a decision that may have a significant impact on its net capital, such as distributing profits to shareholders, it shall conduct a sensitivity test on the corresponding risk supervision indicators.
Article 5
A futures company shall employ an accounting firm with securities and futures-related business qualifications to audit the annual risk supervision statements of the futures company. Accounting firms and their certified public accountants shall be diligent, check and verify the authenticity, accuracy and completeness of the documents and materials on which the report is based, and be responsible for the legality and authenticity of the audit report.
Edit the calculation of risk supervision indicators in Chapter II of this paragraph.
Article 6
The risk supervision indicators of futures companies include the net capital, the ratio of net capital to net assets, the ratio of current assets to current liabilities, the ratio of liabilities to net assets, and the minimum settlement reserve requirements.
Article 7
The term "net capital" as mentioned in these Measures refers to the comprehensive risk supervision index based on the net assets of futures companies and adjusted the risks of assets, liabilities and other items according to their liquidity. The calculation formula of net capital is: net capital = net assets-adjusted value of assets+adjusted value of liabilities-margin not fully added by customers-/+other adjusted items.
Article 8
A futures company shall adjust the asset risks in different proportions according to different situations such as classification, liquidity, aging and recoverability.
Article 9
The financial assets held by a futures company shall be subject to risk adjustment in different proportions according to their categories and liquidity. If the classification meets two or more criteria at the same time, the highest proportion shall be adopted for risk adjustment.
Article 10
A futures company shall adjust the risk of accounts receivable in different proportions according to the age of accounts and the specific contents of accounting. If the classification meets two or more criteria at the same time, the highest proportion shall be adopted to adjust the risk.
Article 11
When calculating the net capital, a futures company shall, in accordance with the provisions of the Accounting Standards for Business Enterprises, make full provision for impairment of assets for related projects. The dispatched office of the China Securities Regulatory Commission may require the futures company to make a special explanation on the adequacy and rationality of the provision for asset impairment; If there is evidence that the futures company fails to make full provision for asset impairment, the agency of China Securities Regulatory Commission shall require the futures company to reduce its net capital accordingly.
Article 12
When calculating the net capital, a futures company can add back "futures risk reserve" and other debt items that help to enhance its ability to resist risks. In addition to the "futures risk reserve", if a futures company thinks that a liability needs to be adjusted when calculating its net capital, it shall add a note to explain in detail the specific content reflected by the liability; China Securities Regulatory Commission and its dispatched offices may decide whether to agree to adjust liabilities according to the principle of prudent supervision.
Article 13
A futures company shall confirm the estimated liabilities in accordance with the provisions of the Accounting Standards for Business Enterprises. The dispatched office of the China Securities Regulatory Commission may require the futures company to make a special explanation on the estimated liabilities; If there is evidence that the futures company fails to accurately confirm the estimated liabilities, the agency of China Securities Regulatory Commission shall require the futures company to reduce its net capital accordingly.
Article 14
If the customer's margin is not increased in full, the futures company shall reduce its net capital accordingly. If the customer's margin has been fully increased before the reporting date, the futures company may explain it in the notes to the statement. The customer margin that is not fully added shall be calculated according to the margin standard stipulated by the futures exchange, excluding the debts incurred by the customers who have been recorded in the subject of "risk loss receivable" to the futures company.
Article 15
A futures company shall fully disclose the nature, amount involved, causes, progress, possible losses and accounting treatment of expected losses of contingent liabilities such as litigation and arbitration pending at the end of the period in the notes to the net capital calculation table, and deduct them according to a certain proportion when calculating the net capital. China Securities Regulatory Commission and its dispatched offices may require futures companies to adjust the deduction ratio according to the principle of prudent supervision.
Article 16
Where a futures company borrows subordinated debts, it may include the borrowed subordinated debts into its net capital according to the proportion stipulated by the China Securities Regulatory Commission. Long-term loans with the nature of subordinated debts borrowed by futures companies from shareholders or their affiliated enterprises can be included in the net capital according to the proportion stipulated by the China Securities Regulatory Commission when calculating the net capital.
Article 17
If the customer's margin is not increased in full, the futures company shall deduct it when calculating the settlement reserve that reaches the prescribed minimum amount. If the customer's margin has been fully increased before the reporting date, the futures company may explain it in the notes to the statement. The customer margin that is not fully added shall be calculated according to the margin standard stipulated by the futures exchange, excluding the debts incurred by the customers who have been recorded in the subject of "risk loss receivable" to the futures company.
Edit Chapter III Risk Supervision Index Standard of this paragraph.
Article 18
A futures company shall continuously meet the following risk supervision index standards: (1) The net capital shall not be less than150,000 yuan; (2) The net capital shall not be less than 6% of the total clients' equity. (3) The average amount of net capital converted according to the number of business departments (net capital/number of business departments) is not less than 3 million yuan; (4) The ratio of net capital to net assets shall not be less than 40%. (5) The ratio of current assets to current liabilities shall not be less than100%; (6) The ratio of liabilities to net assets shall not be higher than150%; (7) Minimum settlement reserve requirements.
Article 19
Where a futures company entrusts other institutions to provide intermediary services, its net capital shall not be less than 30 million yuan.
Article 20
The net capital of a futures company engaged in trading settlement business shall not be less than RMB 45 million.
Article 21
The net capital of a futures company engaged in comprehensive settlement business shall not be lower than the following standards: (1) 90 million yuan; (2) 6% of the sum of the total customer equity and the customer equity of non-settlement members or non-settlement members.
Article 22
China Securities Regulatory Commission and its dispatched offices may, according to the principle of prudent supervision, combine the risk status and risk management ability of futures companies to improve their risk supervision index standards.
Article 23
China Securities Regulatory Commission sets early warning standards for the risk supervision indicators stipulated in Articles 18 to 21. The warning standard of risk supervision indicators "not lower than" a certain standard is 120% of the specified standard, and the warning standard of risk supervision indicators "not higher than" a certain standard is 80% of the specified standard.
Edit Chapter IV of this paragraph, Preparation and Disclosure
Article 24
A futures company shall submit monthly and annual risk supervision statements. A futures company shall, within 7 working days after the end of each month, submit a monthly risk supervision report to the agency of the China Securities Regulatory Commission where the company is domiciled, and submit an annual risk supervision report audited by an accounting firm with securities and futures-related business qualifications within 3 months after the end of the year. According to the principle of prudent supervision, the dispatched offices of China Securities Regulatory Commission may require futures companies to prepare and submit risk supervision statements on a weekly or daily basis.
Article 25
A futures company shall designate a special person to be responsible for the preparation and submission of risk supervision statements.
Article 26
The legal representative of the futures company, the main person in charge of operation and management, the person in charge of finance, the person in charge of settlement and the tabulator shall sign the risk supervision statement for confirmation, and ensure its truthfulness, accuracy and completeness. If the above-mentioned personnel have any objection to the contents of the risk supervision statement, they shall explain their opinions and reasons in writing and submit them to the dispatched office of China Securities Regulatory Commission where the company is domiciled.
Article 27
A futures company shall submit risk supervision statements in the manner prescribed by the China Securities Regulatory Commission. A futures company shall keep a written risk supervision statement, and the corresponding responsible person shall sign the written statement and affix the company seal. The preservation period of this statement shall not be less than 5 years.
Article 28
A futures company shall submit a written report to all directors of the company every six months, explaining the specific situation of various risk supervision indicators such as net capital, and the written report shall be signed and confirmed by the legal representative of the futures company. A futures company shall submit a written report to all shareholders of the company every six months, explaining the specific situation of various risk supervision indicators such as net capital. The written report shall be signed and confirmed by all directors, and the confirmation certificate of shareholders' receipt shall be obtained.
Article 29
If the risk supervision index changes by more than 20% compared with last month, the futures company shall report in writing to the dispatched office of the China Securities Regulatory Commission where the company is domiciled, explaining the reasons, and report to all directors and shareholders in writing within 5 working days.
Article 30
If the risk supervision index of the futures company reaches the early warning standard, the futures company shall report in writing to the dispatched office of the China Securities Regulatory Commission where the company is domiciled on the same day, detailing the reasons, the impact on the company, the specific measures and time limit for solving the problem, and report to all directors of the company in writing. If the risk supervision index of the futures company fails to meet the prescribed standards, the futures company shall, in addition to fulfilling the above procedures, report to all shareholders in writing on the same day.
Edit chapter v supervision and management of this paragraph.
Article 31
If the futures company fails to submit the risk supervision report on schedule or the submitted risk supervision report contains false records, misleading statements or major omissions, the agency of the China Securities Regulatory Commission shall require the futures company to submit it within a time limit or make supplementary corrections. If a futures company fails to submit or make supplementary corrections within the time limit, the agency of the China Securities Regulatory Commission, where the company is domiciled, shall conduct on-site inspection of the company. If it is found that a futures company violates the accounting standards for business enterprises and the relevant provisions of these Measures, it may be determined that the risk supervision indicators have not reached the prescribed standards.
Article 32
If the risk supervision index of a futures company reaches the early warning standard, it will enter the risk early warning period. The dispatched office of the China Securities Regulatory Commission shall, within five working days, verify the situation and reasons why the company's risk supervision indicators touch the early warning standard, evaluate the company's impact, and take the following measures as appropriate: (1) issue a warning letter to the company and send a copy to all its shareholders; (2) Holding supervisory talks with the company's senior management and asking them to optimize the level of the company's risk supervision indicators; (3) When the company needs to make major business decisions, it shall submit an interim report to the dispatched office of the China Securities Regulatory Commission where the company resides at least five working days in advance, explaining the impact of related businesses on the company's financial status and risk supervision indicators; (4) Ordering the company to increase the frequency of internal compliance inspection and submit compliance inspection reports.
Article 33
If the risk supervision index of the futures company is better than the early warning standard and remains for 3 months continuously, the risk early warning period ends.
Article 34
If the risk supervision index of a futures company does not meet the prescribed standards, the dispatched office of the China Securities Regulatory Commission shall conduct on-site inspection of the company within 2 working days to verify the situation and reasons that do not meet the prescribed standards, and order the futures company to make rectification within a time limit, which shall not exceed 20 working days at the longest.
Article 35
After rectification, if the risk supervision indicators reach the prescribed standards, the futures company shall report to the dispatched office of the China Securities Regulatory Commission where the company is domiciled, and the dispatched office of the China Securities Regulatory Commission shall conduct acceptance inspection. If the risk supervision indicators of a futures company meet the prescribed standards, the dispatched office of the China Securities Regulatory Commission shall, within 3 working days from the date of acceptance, lift the relevant measures taken against the futures company.
Article 36
If the futures company fails to make corrections within the time limit or the risk supervision indicators still do not meet the prescribed standards after rectification, the China Securities Regulatory Commission and its dispatched offices may take supervision measures according to Article 59 of the Regulations on the Administration of Futures Trading.
Edit this paragraph in Chapter VI Supplementary Provisions.
Article 37
The meanings of the following terms in these Measures: (1) Risk supervision statements, including the summary table of risk supervision indicators of futures companies, the calculation table of net capital, the calculation table of asset adjustment value, the statement of separated assets of customers, the statement of changes in customers' equity, business reports and customer management reports. (2) Assets and current assets refer to the self-owned assets of futures companies, excluding customer deposits. (3) Liabilities and current liabilities refer to the external liabilities of futures companies, excluding customer rights and interests. (4) Major business refers to the business that may lead to more than 65,438+00% changes in risk supervision indicators such as net capital of futures companies.
Article 38
These Measures shall come into force as of the date of promulgation. Where a futures company established according to law before the implementation of these Measures does not fully comply with the provisions of these Measures, it shall meet the requirements of these Measures before August/KLOC-0, 2007.