In terms of compliance management, the requirements are as follows: (6) The senior management personnel have not received criminal punishment, administrative punishment for illegal business operation, no bad credit record, and are not under investigation by the competent authorities for suspected violation of laws and regulations; (seven) there is no regulatory measures taken by the China Securities Regulatory Commission and its dispatched offices as stipulated in the second paragraph of Article 59 and Article 60 of the Regulations on the Administration of Futures Trading; (eight) there is no case of being investigated by the administrative or judicial organs for suspected violation of laws and regulations; (nine) in the past two years, he has not been subjected to criminal punishment or administrative punishment for illegal business operations. However, if the controlling shareholder or actual controller of a futures company changes, and the proportion of senior managers changes by more than 50%, and the senior managers and business leaders who are responsible for the above situation no longer serve in the company, they may not be subject to this restriction. In terms of shareholders' net assets, the requirements are: ⑽ The net assets of the controlling shareholder shall not be less than 30 million yuan; ⑾ The controlling shareholder and actual controller have not been subjected to criminal punishment in the last two years, nor have they been subjected to administrative punishment for illegal business operations, and there is no case that they are being investigated by the competent authorities for suspected illegal business operations; ⑿ Other conditions stipulated by China Securities Regulatory Commission according to the principle of prudential supervision.
Article 13 of the exposure draft of the Measures for Futures Companies also clarifies the materials that futures companies need to submit to apply for financial futures business qualifications. Article 13 of the draft points out that a futures company applying for the qualification of financial futures brokerage business shall submit the following application materials to the China Securities Regulatory Commission: (1) an application for the qualification of financial futures brokerage business; (2) The business license and a copy of the business license stamped with the official seal of the company; (3) Resolutions of shareholders, shareholders' meeting or board of directors on futures companies' application for financial futures brokerage business qualifications; (4) The futures company's risk supervision report at the end of three months before the application date, and the company shall guarantee in writing that the risk supervision indicators in the three months before the application date continue to meet the prescribed standards; 5] Corporate governance, risk management system and internal control
System and implementation report; (6) A plan to engage in financial futures brokerage business; (seven) business facilities and technical system operation report; A list of senior managers, heads of major departments and employees; (9) The previous 1 annual financial report audited by an accounting firm with securities and futures-related business qualifications; If the application date is in the second half of the year, an audited semi-annual financial report shall also be provided; ⑽ The latest financial report of the controlling shareholder audited by an accounting firm with securities and futures-related business qualifications; ⑾ Legal opinions issued by the law firm on whether the futures company meets the conditions specified in Item (6), Item (8), Item (9) and Item (11) of Article 12 of these Measures, and whether the resolutions of shareholders, shareholders' general meeting or board of directors are legal; ⑿ Other application materials specified by China Securities Regulatory Commission.
Different from commodity futures business, futures companies will be divided into different categories because of the different business scope of applying for financial futures business. Article 61 of the Exposure Draft of the Measures for Exchanges stipulates that "with the approval of the China Securities Regulatory Commission, the futures exchange may implement a full settlement system or a hierarchical settlement system for its members". Article 65 stipulates that "the members of a futures exchange that implements the hierarchical member settlement system are composed of settlement members and non-settlement members. Settlement members are qualified to settle with futures exchanges, while non-settlement members are not qualified to settle with futures exchanges. The futures exchange shall settle accounts with settlement members, non-settlement members shall settle accounts with settlement members, and customers of non-settlement members shall settle accounts with settlement members. " Article 66 stipulates that "clearing members are composed of comprehensive clearing members, trading clearing members and special clearing members. General settlement members and special settlement members can handle settlement business for non-settlement members who have signed settlement agreements with them. Trading settlement members shall not handle settlement business for non-settlement members. " Article 67 stipulates that "the application is successful.
As a clearing member, it shall obtain the clearing business qualification recognized by China Securities Regulatory Commission. It is reported that the China Financial Futures Exchange, which is about to list stock index futures, will implement a membership grading system. The above provisions indicate that future futures companies will be divided into settlement members and non-settlement members. Among them, settlement members will be divided into full settlement members and transaction settlement members, and non-settlement members will be divided into trading members. Futures companies are divided over whether they have the qualification for settlement business. It can be predicted that the implementation of the above provisions will accelerate the differentiation of futures companies.
The publication of the exposure drafts of the Measures for Exchanges and Measures for Futures Companies means that the application conditions of futures companies, as the main body engaged in financial futures brokerage business, are gradually clear, which will promote the preparations for futures companies to deal with the listing of stock index futures, and also indicate that the listing of the first financial futures product, stock index futures, is just around the corner.
Can refer to it!