Regulatory Measures for Futures Companies
Order of the China Securities Regulatory Commission No. 155
June 4, 2019
The Regulatory Measures for Futures Companies, adopted at the first Chairman Office Meeting in 2019, are hereby promulgated and shall be implemented from the date of promulgation.
Chairman of the China Securities Regulatory Commission Yi Huiman
Regulatory Measures for Futures Companies
Chapter I General Provisions
Article 1 These Measures are formulated in accordance with the Company Law, the Administrative Regulations on Futures Trading and related laws and administrative regulations in order to standardize business activities of futures companies, strengthen the supervision and regulation of futures companies, protect the legitimate rights and interests of customers, and promote the development of the futures market.
Article 2 These Measures shall apply to futures companies established in the People's Republic of China.
Article 3 Futures companies shall comply with laws, administrative regulations and the provisions of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), operate prudently, prevent conflict of interests, and perform fiduciary duty towards their customers.
Article 4 The shareholders and actual controlling party of a futures company as well as their related party shall not abuse their rights, shall not encroach upon the assets of the futures company or misappropriate customer assets, and shall not harm the legitimate rights and interests of the futures company and its customers.
Article 5 The CSRC and its branches shall implement supervision and administration of futures companies and their branches according to the law.
The China Futures Association and futures exchanges shall implement self-governance administration for futures companies according to the self-governance rules.
A futures margin depository organization shall monitor the security of customer margins according to the law.
Chapter II Establishment, Change and Termination of Business
Article 6 An application for establishment of a futures company shall, in addition to satisfying the criteria stipulated in Article 16 of the Administrative Regulations on Futures Trading, satisfy the following criteria:
1. The registered capital shall be not less than CNY100 million;
2. The number of employees qualified to engage in futures business shall not be less than 15; and
3. The number of senior management personnel with appointment qualifications shall not be less than three persons.
Article 7 Where a key shareholder of a futures company is a legal person or a non-legal-person organization, it shall satisfy the following criteria:
1. The paid-up capital and net assets shall both not be less than CNY100 million;
2. The net assets shall not be less than 50% of the paid-up capital, the contingent liabilities shall be less than 50% of the net assets, and there are no other risks which have significant uncertain impact on the financial status;
3. It has sustainable profitability, is an ongoing concern for three or more complete accounting years, and has been profitable for the past three consecutive accounting years;
4. The capital contribution amount shall not exceed its net assets, and the source of funds is true and legitimate, and it shall not use entrusted funds or borrowed funds for capital injection into the futures company;
5. It has good reputation, good corporate governance, clear organization structure and transparent equity structure, and the nature of its principal activities is relevant to the futures company;
6. There is no due and unpaid debt of a relatively large amount;
7. It has not been subject to administrative or criminal punishment for a major violation during the past three years;
8. It is not under investigation or subject to mandatory measures adopted by the relevant authorities for an alleged major violation;
9. It has not acted in bad faith such as abusing shareholder's rights or evading shareholder's obligations in its capacity as a shareholder or the actual controlling party of a company (including a financial institution) during the past three years; and
10. It is not deemed by the CSRC according to the principle of prudential regulation as inappropriate to hold shares in a futures company.
Article 8 Where a key shareholder of a futures company is a natural person, he/she shall satisfy the criteria stipulated in Item 4, Item 6 to Item 10 of Article 7 of these Measures, and shall also satisfy the following criteria:
1. His/her financial assets are not less than CNY30 million; and
2. He/she has good reputation, and is not directly accountable for business failure or major violation of an invested enterprise during the past three years.
A natural person who holds 5% or more of the shares in a futures company indirectly shall comply with the provisions of the preceding paragraph.
Article 9 A controlling shareholder and the largest shareholder of a futures company shall, in addition to satisfying the criteria stipulated in Article 7 and Article 8 of these Measures, satisfy the following criteria:
1. Its net capital shall not be less than CNY500 million; where the net capital or similar criterion is not applicable, its net assets shall not be less than CNY1 billion;
2. It has relatively strong advantages in technical competence, management services, staff training or marketing channels etc.;
3. It has sustainable ability to top up capital contribution to the futures company, and the ability to take proper action in the event that the futures company is unable to operate normally; and
4. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 10 Where a non-financial enterprise invests in and becomes a key shareholder or controlling shareholder or the largest shareholder of a futures company, it shall also satisfy the following criteria in addition to satisfying the relevant criteria stipulated in Article 7 and Article 9 of these Measures:
1. Comply with the relevant provisions and the relevant guiding opinions of the State on strengthening supervision and administration over investment in financial institutions by non-financial enterprises;
2. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 11 Where a key shareholder, a controlling shareholder or the largest shareholder of a futures company is an overseas shareholder, it shall, in addition to satisfying the criteria stipulated in Article 7 and Article 9 of these Measures, satisfy the following criteria:
1. It is a legally existing financial institution established according to the laws of the country or region where it is located;
2. Its financial indicators and control indicators during the past three years comply with the provisions of the laws of the country or region where it is located and the requirements of the regulatory authorities;
3. The country or region where it is located has proper futures laws and a supervision and administration system, and the futures regulatory authorities of the country or region have entered into a regulatory memorandum of understanding with the CSRC, and maintain effective regulatory cooperative relations;
4. The cumulative percentage of shares or interests held by foreign investor(s) in a futures company (including direct and indirect ownership) shall not exceed the commitments made by the China's futures industry to external parties or Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan for opening up of the futures industry.
Overseas shareholders shall make capital contribution in Renminbi converted from a freely convertible foreign currency or obtained legitimately.
5. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 12 Where the aggregate shareholding percentage of related shareholders of a futures company attains 5%, the shareholder with the highest shareholding percentage shall satisfy the criteria stipulated in Article 7, Article 8 and Article 11 of these Measures.
Where the aggregate shareholding percentage of related shareholders of a futures company and persons acting in concert attains the threshold for becoming a controlling shareholder or the largest shareholder of the futures company, the shareholder with the highest shareholding percentage shall satisfy the criteria stipulated in Article 9 and Article 11 of these Measures. A shareholder which is a non-financial enterprise shall satisfy the criteria stipulated in Article 10 and Article 11 of these Measures.
Article 13 An applicant for establishment of a futures company shall submit the following application materials to the CSRC:
1. An application form;
2. Promotion agreement;
3. The decision document of a non-natural-person shareholder in accordance with its decision-making procedures consenting to capital contribution and establishment of the futures company;
4. Draft articles of association of the company;
5. Business plan;
6. Name list of promoters, and their financial reports for the past three years audited by an accounting firm or certificates of personal financial assets, as well as a statement that they are not directly accountable for business failure or major violation of an invested enterprise for the past three years;
7. List of the proposed candidates for the senior management personnel and practitioners, their curriculum vitae, the relevant proof of appointment criteria and the relevant qualification certificates;
8. The text of the proposed futures business system, internal control system and risk management system;
9. Proof documents for premises, equipment and funding;
10. A statement on equity structure, as well as the relationships between shareholders and the relationships between persons acting in concert;
11. Capital supplementation plan and risk handling plan;
12. Legal opinion issued by a law firm; and
13. Any other application materials stipulated by the CSRC.
Where the shareholding percentage of a single overseas shareholder of a futures company or the aggregate shareholding of overseas shareholders who are related attains 5% or more, the following application materials shall also be submitted:
1. Photocopies of the overseas shareholder's articles of association, business license or registration certificate and the relevant business qualification certificate(s); and
2. A statement issued by the relevant regulatory authorities of the home country or region of the overseas shareholder or an overseas organization recognized by the CSRC that the overseas shareholder satisfies the criteria stipulated in Item 7, Item 8 of Article 7, and Item 2 of Article 11 of these Measures.
Where a key shareholder, a controlling shareholder or the largest shareholder of a futures company is a non-financial enterprise, in addition to the aforesaid materials, it shall also submit other materials stipulated by the relevant provisions of the State on strengthening regulation of investment in financial institutions by non-financial enterprises, and the relevant guiding opinions.
Article 14 Foreign-funded futures companies shall, according to the provisions of laws and administrative regulations, complete the relevant formalities with the commerce administrative department and the foreign exchange control department of the State Council.
Article 15 Futures companies established according to these Measures may engage in commodity futures brokerage business according to the law; futures companies engaging in financial futures brokerage, overseas futures brokerage and futures investment advisory business shall obtain the corresponding business qualifications. Futures companies engaging in asset management business shall complete registration and filing formalities according to the law.
Futures companies may engage in any other businesses stipulated by the CSRC upon approval.
Article 16 A futures company applying for financial futures brokerage business shall satisfy the following criteria:
1. It is in continued compliance with the stipulated standards for risk control indicators during the two-month period preceding the date of application;
2. It has proper corporate governance, risk management system and internal control system which are implemented effectively;
3. It complies with the provisions of the CSRC on monitoring of the security of futures margin depository;
4. The business facilities and technical systems comply with the relevant technical norms and are in good operating conditions;
5. The senior management personnel have, during the past two years, not been subject to criminal punishment, or subject to administrative punishment for illegal or non-compliant operation, do not have bad creditworthiness record, and are not under investigation by the relevant authorities for alleged illegal or non-compliant operation;
6. It is not subject to regulatory measures stipulated in the second paragraph of the second paragraph of Article 55 and Article 56 of the Administrative Regulations on Futures Trading adopted by the CSRC and its branches;
7. It is not under investigation by the relevant authorities for alleged illegal act or violation;
8. It has not been subject to criminal or administrative punishment for an illegal act during the past two years. This restriction however does not apply where there is a change in controlling shareholder or actual controlling party of the futures company, the change in senior management personnel exceeds 50%, the senior management personnel and person(s)-in-charge of the business who are accountable for the aforesaid circumstances are no longer employed by the company, and the company has completed correction and passed inspection by the CSRC branch at the location of the futures company; and
9. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 17 A futures company applying for financial futures brokerage business qualifications shall submit the following application materials to the CSRC:
1. An application form;
2. Photocopies of business license and business permit affixed with the company's official seal;
3. Resolutions of shareholders' general meeting or board of directors;
4. Risk control statement for the two-month period preceding the date of application;
5. Report on implementation of corporate governance, risk management system and internal control system;
6. Report on operating status of business facilities and technical systems, as well as the relevant information security materials on internal audit reports for information system;
7. Legal opinion issued by a law firm;
8. Under the circumstances stipulated in Item 8 of Article 16 of these Measures, the opinion on passing of inspection by the CSRC branch at the location of the futures company which has completed correction; and
9. Any other application materials stipulated by the CSRC.
Article 18 The criteria for overseas futures brokerage, futures investment advisory business and other approved businesses for futures companies shall be separately stipulated by the CSRC.
Article 19 Approval of the CSRC is required under any of the following circumstances in the change of shareholding in a futures company:
1. Change of controlling shareholder or the largest shareholder; and
2. Increase in shareholding percentage of a single shareholder or increase in aggregate shareholding percentage of related shareholders to 5% or more, and involving an overseas shareholder.
Except for circumstances stipulated in the preceding paragraph, where the increase in shareholding percentage of a single shareholder or the increase in aggregate shareholding percentage of related shareholders of a futures company is 5% or more, approval of the CSRC branch at the location of the futures company is required.
Article 20 A change in shareholding in a futures company falls under the circumstances set out in Article 19 of these Measures shall satisfy the following criteria:
1. The proposed change in shareholding is not being seized or frozen;
2. There is no cross shareholding between the futures company and its shareholders, and the futures company has not provided any form of financial assistance to the transferee of the shares; and
3. The shareholder(s) involved shall satisfy the criteria stipulated in Article 7 to Article 12 of these Measures.
Article 21 Where a change in shareholding in a futures company falls under the circumstances set out in Article 19 of these Measures, the following application materials shall be submitted:
1. An application form;
2. Resolution on change in shareholding;
3. Share transfer contract or contract on capital contribution change, and the letter of undertaking of other shareholders (in the case of a limited liability company) on forfeiture of pre-emption;
4. Report on basic information of the shareholder(s) involved, shareholding background information chart of the futures company following the change, and a statement on whether the shareholders of the futures company are related following the change and whether the futures company has provided any form of financial assistance to the transferee;
5. The relevant resolutions of shareholders' general meeting, board of directors or other decision-making organ of the shareholder(s) involved;
6.
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Order of the China Securities Regulatory Commission No. 155
June 4, 2019
The Regulatory Measures for Futures Companies, adopted at the first Chairman Office Meeting in 2019, are hereby promulgated and shall be implemented from the date of promulgation.
Chairman of the China Securities Regulatory Commission Yi Huiman
Regulatory Measures for Futures Companies
Chapter I General Provisions
Article 1 These Measures are formulated in accordance with the Company Law, the Administrative Regulations on Futures Trading and related laws and administrative regulations in order to standardize business activities of futures companies, strengthen the supervision and regulation of futures companies, protect the legitimate rights and interests of customers, and promote the development of the futures market.
Article 2 These Measures shall apply to futures companies established in the People's Republic of China.
Article 3 Futures companies shall comply with laws, administrative regulations and the provisions of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), operate prudently, prevent conflict of interests, and perform fiduciary duty towards their customers.
Article 4 The shareholders and actual controlling party of a futures company as well as their related party shall not abuse their rights, shall not encroach upon the assets of the futures company or misappropriate customer assets, and shall not harm the legitimate rights and interests of the futures company and its customers.
Article 5 The CSRC and its branches shall implement supervision and administration of futures companies and their branches according to the law.
The China Futures Association and futures exchanges shall implement self-governance administration for futures companies according to the self-governance rules.
A futures margin depository organization shall monitor the security of customer margins according to the law.
Chapter II Establishment, Change and Termination of Business
Article 6 An application for establishment of a futures company shall, in addition to satisfying the criteria stipulated in Article 16 of the Administrative Regulations on Futures Trading, satisfy the following criteria:
1. The registered capital shall be not less than CNY100 million;
2. The number of employees qualified to engage in futures business shall not be less than 15; and
3. The number of senior management personnel with appointment qualifications shall not be less than three persons.
Article 7 Where a key shareholder of a futures company is a legal person or a non-legal-person organization, it shall satisfy the following criteria:
1. The paid-up capital and net assets shall both not be less than CNY100 million;
2. The net assets shall not be less than 50% of the paid-up capital, the contingent liabilities shall be less than 50% of the net assets, and there are no other risks which have significant uncertain impact on the financial status;
3. It has sustainable profitability, is an ongoing concern for three or more complete accounting years, and has been profitable for the past three consecutive accounting years;
4. The capital contribution amount shall not exceed its net assets, and the source of funds is true and legitimate, and it shall not use entrusted funds or borrowed funds for capital injection into the futures company;
5. It has good reputation, good corporate governance, clear organization structure and transparent equity structure, and the nature of its principal activities is relevant to the futures company;
6. There is no due and unpaid debt of a relatively large amount;
7. It has not been subject to administrative or criminal punishment for a major violation during the past three years;
8. It is not under investigation or subject to mandatory measures adopted by the relevant authorities for an alleged major violation;
9. It has not acted in bad faith such as abusing shareholder's rights or evading shareholder's obligations in its capacity as a shareholder or the actual controlling party of a company (including a financial institution) during the past three years; and
10. It is not deemed by the CSRC according to the principle of prudential regulation as inappropriate to hold shares in a futures company.
Article 8 Where a key shareholder of a futures company is a natural person, he/she shall satisfy the criteria stipulated in Item 4, Item 6 to Item 10 of Article 7 of these Measures, and shall also satisfy the following criteria:
1. His/her financial assets are not less than CNY30 million; and
2. He/she has good reputation, and is not directly accountable for business failure or major violation of an invested enterprise during the past three years.
A natural person who holds 5% or more of the shares in a futures company indirectly shall comply with the provisions of the preceding paragraph.
Article 9 A controlling shareholder and the largest shareholder of a futures company shall, in addition to satisfying the criteria stipulated in Article 7 and Article 8 of these Measures, satisfy the following criteria:
1. Its net capital shall not be less than CNY500 million; where the net capital or similar criterion is not applicable, its net assets shall not be less than CNY1 billion;
2. It has relatively strong advantages in technical competence, management services, staff training or marketing channels etc.;
3. It has sustainable ability to top up capital contribution to the futures company, and the ability to take proper action in the event that the futures company is unable to operate normally; and
4. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 10 Where a non-financial enterprise invests in and becomes a key shareholder or controlling shareholder or the largest shareholder of a futures company, it shall also satisfy the following criteria in addition to satisfying the relevant criteria stipulated in Article 7 and Article 9 of these Measures:
1. Comply with the relevant provisions and the relevant guiding opinions of the State on strengthening supervision and administration over investment in financial institutions by non-financial enterprises;
2. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 11 Where a key shareholder, a controlling shareholder or the largest shareholder of a futures company is an overseas shareholder, it shall, in addition to satisfying the criteria stipulated in Article 7 and Article 9 of these Measures, satisfy the following criteria:
1. It is a legally existing financial institution established according to the laws of the country or region where it is located;
2. Its financial indicators and control indicators during the past three years comply with the provisions of the laws of the country or region where it is located and the requirements of the regulatory authorities;
3. The country or region where it is located has proper futures laws and a supervision and administration system, and the futures regulatory authorities of the country or region have entered into a regulatory memorandum of understanding with the CSRC, and maintain effective regulatory cooperative relations;
4. The cumulative percentage of shares or interests held by foreign investor(s) in a futures company (including direct and indirect ownership) shall not exceed the commitments made by the China's futures industry to external parties or Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan for opening up of the futures industry.
Overseas shareholders shall make capital contribution in Renminbi converted from a freely convertible foreign currency or obtained legitimately.
5. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 12 Where the aggregate shareholding percentage of related shareholders of a futures company attains 5%, the shareholder with the highest shareholding percentage shall satisfy the criteria stipulated in Article 7, Article 8 and Article 11 of these Measures.
Where the aggregate shareholding percentage of related shareholders of a futures company and persons acting in concert attains the threshold for becoming a controlling shareholder or the largest shareholder of the futures company, the shareholder with the highest shareholding percentage shall satisfy the criteria stipulated in Article 9 and Article 11 of these Measures. A shareholder which is a non-financial enterprise shall satisfy the criteria stipulated in Article 10 and Article 11 of these Measures.
Article 13 An applicant for establishment of a futures company shall submit the following application materials to the CSRC:
1. An application form;
2. Promotion agreement;
3. The decision document of a non-natural-person shareholder in accordance with its decision-making procedures consenting to capital contribution and establishment of the futures company;
4. Draft articles of association of the company;
5. Business plan;
6. Name list of promoters, and their financial reports for the past three years audited by an accounting firm or certificates of personal financial assets, as well as a statement that they are not directly accountable for business failure or major violation of an invested enterprise for the past three years;
7. List of the proposed candidates for the senior management personnel and practitioners, their curriculum vitae, the relevant proof of appointment criteria and the relevant qualification certificates;
8. The text of the proposed futures business system, internal control system and risk management system;
9. Proof documents for premises, equipment and funding;
10. A statement on equity structure, as well as the relationships between shareholders and the relationships between persons acting in concert;
11. Capital supplementation plan and risk handling plan;
12. Legal opinion issued by a law firm; and
13. Any other application materials stipulated by the CSRC.
Where the shareholding percentage of a single overseas shareholder of a futures company or the aggregate shareholding of overseas shareholders who are related attains 5% or more, the following application materials shall also be submitted:
1. Photocopies of the overseas shareholder's articles of association, business license or registration certificate and the relevant business qualification certificate(s); and
2. A statement issued by the relevant regulatory authorities of the home country or region of the overseas shareholder or an overseas organization recognized by the CSRC that the overseas shareholder satisfies the criteria stipulated in Item 7, Item 8 of Article 7, and Item 2 of Article 11 of these Measures.
Where a key shareholder, a controlling shareholder or the largest shareholder of a futures company is a non-financial enterprise, in addition to the aforesaid materials, it shall also submit other materials stipulated by the relevant provisions of the State on strengthening regulation of investment in financial institutions by non-financial enterprises, and the relevant guiding opinions.
Article 14 Foreign-funded futures companies shall, according to the provisions of laws and administrative regulations, complete the relevant formalities with the commerce administrative department and the foreign exchange control department of the State Council.
Article 15 Futures companies established according to these Measures may engage in commodity futures brokerage business according to the law; futures companies engaging in financial futures brokerage, overseas futures brokerage and futures investment advisory business shall obtain the corresponding business qualifications. Futures companies engaging in asset management business shall complete registration and filing formalities according to the law.
Futures companies may engage in any other businesses stipulated by the CSRC upon approval.
Article 16 A futures company applying for financial futures brokerage business shall satisfy the following criteria:
1. It is in continued compliance with the stipulated standards for risk control indicators during the two-month period preceding the date of application;
2. It has proper corporate governance, risk management system and internal control system which are implemented effectively;
3. It complies with the provisions of the CSRC on monitoring of the security of futures margin depository;
4. The business facilities and technical systems comply with the relevant technical norms and are in good operating conditions;
5. The senior management personnel have, during the past two years, not been subject to criminal punishment, or subject to administrative punishment for illegal or non-compliant operation, do not have bad creditworthiness record, and are not under investigation by the relevant authorities for alleged illegal or non-compliant operation;
6. It is not subject to regulatory measures stipulated in the second paragraph of the second paragraph of Article 55 and Article 56 of the Administrative Regulations on Futures Trading adopted by the CSRC and its branches;
7. It is not under investigation by the relevant authorities for alleged illegal act or violation;
8. It has not been subject to criminal or administrative punishment for an illegal act during the past two years. This restriction however does not apply where there is a change in controlling shareholder or actual controlling party of the futures company, the change in senior management personnel exceeds 50%, the senior management personnel and person(s)-in-charge of the business who are accountable for the aforesaid circumstances are no longer employed by the company, and the company has completed correction and passed inspection by the CSRC branch at the location of the futures company; and
9. Any other criteria stipulated by the CSRC according to the principle of prudential regulation.
Article 17 A futures company applying for financial futures brokerage business qualifications shall submit the following application materials to the CSRC:
1. An application form;
2. Photocopies of business license and business permit affixed with the company's official seal;
3. Resolutions of shareholders' general meeting or board of directors;
4. Risk control statement for the two-month period preceding the date of application;
5. Report on implementation of corporate governance, risk management system and internal control system;
6. Report on operating status of business facilities and technical systems, as well as the relevant information security materials on internal audit reports for information system;
7. Legal opinion issued by a law firm;
8. Under the circumstances stipulated in Item 8 of Article 16 of these Measures, the opinion on passing of inspection by the CSRC branch at the location of the futures company which has completed correction; and
9. Any other application materials stipulated by the CSRC.
Article 18 The criteria for overseas futures brokerage, futures investment advisory business and other approved businesses for futures companies shall be separately stipulated by the CSRC.
Article 19 Approval of the CSRC is required under any of the following circumstances in the change of shareholding in a futures company:
1. Change of controlling shareholder or the largest shareholder; and
2. Increase in shareholding percentage of a single shareholder or increase in aggregate shareholding percentage of related shareholders to 5% or more, and involving an overseas shareholder.
Except for circumstances stipulated in the preceding paragraph, where the increase in shareholding percentage of a single shareholder or the increase in aggregate shareholding percentage of related shareholders of a futures company is 5% or more, approval of the CSRC branch at the location of the futures company is required.
Article 20 A change in shareholding in a futures company falls under the circumstances set out in Article 19 of these Measures shall satisfy the following criteria:
1. The proposed change in shareholding is not being seized or frozen;
2. There is no cross shareholding between the futures company and its shareholders, and the futures company has not provided any form of financial assistance to the transferee of the shares; and
3. The shareholder(s) involved shall satisfy the criteria stipulated in Article 7 to Article 12 of these Measures.
Article 21 Where a change in shareholding in a futures company falls under the circumstances set out in Article 19 of these Measures, the following application materials shall be submitted:
1. An application form;
2. Resolution on change in shareholding;
3. Share transfer contract or contract on capital contribution change, and the letter of undertaking of other shareholders (in the case of a limited liability company) on forfeiture of pre-emption;
4. Report on basic information of the shareholder(s) involved, shareholding background information chart of the futures company following the change, and a statement on whether the shareholders of the futures company are related following the change and whether the futures company has provided any form of financial assistance to the transferee;
5. The relevant resolutions of shareholders' general meeting, board of directors or other decision-making organ of the shareholder(s) involved;
6.
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