Administrative Measures for Risk Control Indicators of Futures Companies
Administrative Measures for Risk Control Indicators of Futures Companies
Administrative Measures for Risk Control Indicators of Futures Companies
Order of China Securities Regulatory Commission No.131
April 18, 2017
The Administrative Measures for Risk Control Indicators of Futures Companies, which were deliberated and adopted at the 1st executive meeting of the chairman of China Securities Regulatory Commission on February 7, 2017, are hereby promulgated and shall take effect as of October 1, 2017.
Chairman of the China Securities Regulatory Commission: Liu Shiyu
Administrative Measures for Risk Control Indicators of Futures Companies
Chapter I General Provisions
Article 1 With a view to intensifying the supervision and administration of futures companies and urging the futures companies to strengthen the internal control, prevent risks and develop with steady steps, the Administrative Measures for Risk Control Indicators of Futures Companies ("the Measures") are formulated in accordance with the Administrative Regulations on Futures Trading.
Article 2 A futures company shall calculate the risk control indicators in accordance with the relevant provisions of the China Securities Regulatory Commission ("CSRC").
Article 3 The CSRC may, in accordance with the principle of prudent regulation and in combination with the development of the futures market and industry, and on basis of seeking for opinions from the industry, make dynamic adjustments to the standards on and calculation requirements for the risk control indicators of the futures company, and make transitional arrangement for the implementation of the adjusted matters.
Article 4 A futures company shall establish an internal control system and a risk management system appropriate to the risk control indicators and set up the dynamic risk monitoring and capital replenishment mechanisms so as to ensure that the net assets and other risk control indicators always conform to the relevant standards.
Article 5 A futures company shall timely conduct pressure test over its risk control indicators in accordance with the regulatory requirements, market change situation and business development.
Where the result of a pressure test indicates that the potential risk exceeds the risk tolerance capability of a futures company, the futures company shall take effective measures to replenish the capital or control the business scale in order to keep the risks within tolerable bounds
Article 6 A futures company shall engage an accounting firm with securities or futures business qualifications to audit its annual risk control statements.
An accounting firm and its certified public accountants shall act with due diligence, check and verify the authenticity, accuracy and completeness of the documents and materials on which their reports are based, and be liable for the legitimacy and authenticity of the audit reports issued by them.
Article 7 The CSRC and its branches may, in accordance with the provisions of the laws, administrative regulations and the Measures, supervise and manage the matters on whether the risk control indicators of the futures company meet the standards, and the activities related to the preparation and submission of risk control statements by the futures company.
Chapter II Standards on and Calculation Requirement for the Risk Control Indicators
Article 8 A futures company shall continuously conform to the following standards on the risk control indicators:
1.
......
Order of China Securities Regulatory Commission No.131
April 18, 2017
The Administrative Measures for Risk Control Indicators of Futures Companies, which were deliberated and adopted at the 1st executive meeting of the chairman of China Securities Regulatory Commission on February 7, 2017, are hereby promulgated and shall take effect as of October 1, 2017.
Chairman of the China Securities Regulatory Commission: Liu Shiyu
Administrative Measures for Risk Control Indicators of Futures Companies
Chapter I General Provisions
Article 1 With a view to intensifying the supervision and administration of futures companies and urging the futures companies to strengthen the internal control, prevent risks and develop with steady steps, the Administrative Measures for Risk Control Indicators of Futures Companies ("the Measures") are formulated in accordance with the Administrative Regulations on Futures Trading.
Article 2 A futures company shall calculate the risk control indicators in accordance with the relevant provisions of the China Securities Regulatory Commission ("CSRC").
Article 3 The CSRC may, in accordance with the principle of prudent regulation and in combination with the development of the futures market and industry, and on basis of seeking for opinions from the industry, make dynamic adjustments to the standards on and calculation requirements for the risk control indicators of the futures company, and make transitional arrangement for the implementation of the adjusted matters.
Article 4 A futures company shall establish an internal control system and a risk management system appropriate to the risk control indicators and set up the dynamic risk monitoring and capital replenishment mechanisms so as to ensure that the net assets and other risk control indicators always conform to the relevant standards.
Article 5 A futures company shall timely conduct pressure test over its risk control indicators in accordance with the regulatory requirements, market change situation and business development.
Where the result of a pressure test indicates that the potential risk exceeds the risk tolerance capability of a futures company, the futures company shall take effective measures to replenish the capital or control the business scale in order to keep the risks within tolerable bounds
Article 6 A futures company shall engage an accounting firm with securities or futures business qualifications to audit its annual risk control statements.
An accounting firm and its certified public accountants shall act with due diligence, check and verify the authenticity, accuracy and completeness of the documents and materials on which their reports are based, and be liable for the legitimacy and authenticity of the audit reports issued by them.
Article 7 The CSRC and its branches may, in accordance with the provisions of the laws, administrative regulations and the Measures, supervise and manage the matters on whether the risk control indicators of the futures company meet the standards, and the activities related to the preparation and submission of risk control statements by the futures company.
Chapter II Standards on and Calculation Requirement for the Risk Control Indicators
Article 8 A futures company shall continuously conform to the following standards on the risk control indicators:
1.
......