China – CSRC Futures Firm Measures

China – CSRC Futures Firm Measures

On 30 August 2019, CHI CSRC issued draft measures for futures control.

  • CHI CSRC issued draft amendments to administrative measures for directors, supervisors and senior management of futures companies, open for comments.

Revisions

  • Clarifies the requirements of directors, supervisors and senior management personnel in terms of reporting; in line with reforms to streamline company administration.
  • Modifies qualification requirements of management personnel; allows management to take up positions in the company's wholly-owned or controlled subsidiaries; cancels the current 30% limit of foreigners taking up managerial positions in the company.
  • Strengthen supervision; regulate the appointment and performance of management.