An Introduction to China Futures Association
China Futures Association (hereinafter referred to as “CFA”), a national self-disciplinary organization of futures industry founded on December 29, 2000 according to Regulations for Registration and Management of Social Organizations and Regulation on the Administration of Futures Trading, is a nonprofit social entity organization under the supervision and management of China Securities Regulatory Commission (CSRC), the business supervision unit, and Ministry of Civil Affairs, the administrative authority of organization registration, with the registration office in Beijing.


General Meeting is the highest authority of CFA, while the Council refers to the standing authority of CFA during intersession of General Meeting, which is responsible for General Meeting. The Council is currently composed of 13 professional committees, namely Brokerage Business, Asset Management, Derivatives Traders, International Business, Information Technology, Self-regulatory Supervision,Complaints, Dispute Resolution, Investor Education and Protection,Talent Cultivation, Research & Development Committees, Talents Cultivation Fund Management Committee and Investor Education Fund Management Committee. CFA has one chairman, several vice chairmen, and one secretary general. CFA has 11 departments including General Office, Membership I, Membership II , Innovation Business, Self-regulatory Supervision, Examination and Certification,Training, Research, Investor Education, Information Technology and Party Committee Office (Discipline Inspection Office).

 

Functions of CFA:
●Be responsible for accrediting, managing and revoking the qualification of futures employees, organizing futures qualification exam and senior manager qualification exam of futures companies, authorizing regulatory documents of CSRC and organizing competence exam of other professional qualifications.
●Supervise and inspect the practices of members and futures employees, accept and deal with the report and compliant of members and futures employees through investigation, and perform disciplinary punishment on those violating the regulations and self-regulation rules; reflect and report the practices of members and futures employees to CSRC and offer opinions and suggestions for futures supervision and management.
●Formulate code of conduct and standard of practice for futures industry, participate in credit rating of the industry and join in the preparation of industrial and technical standards concerning futures.
●Accept the complaints of customers regarding futures business and mediate the disputes between members or member and customers.
●Serve the members, safeguard the legitimate interest of members, and actively reflect the problems, suggestions and requirements of members during business activities to CSRC and national department concerned.
●Formulate and implement talent development strategy of futures industry, strengthen talent team construction of futures industry, perform continuous education and business training on futures employees and improve their vocational skills and occupational ethics level.
●Establish special fund and provide financial support for talent training, investor education or other special careers of futures industry.
●Be responsible for self-regulation organization and coordination of industrial information safety control and improving industrial information safety control and information technology level.
●Collect and manage futures information, carry out business exchange among members, promote members to perfect corporate governance structure and internal control mechanism as required by modern financial enterprises and encourage business innovation, thus creating larger market space and development opportunity for members.
●Organize members to study the development of futures industry, join in policy demonstration concerning standards and development of futures industry and put forward suggestions for relevant policies, laws and regulations.
●Strengthen the communication and contact with news media, hold futures market publicity and investor education in large scale and create favorable environment for industry development.
●Honor and award the members and individuals with outstanding contributions in the industry, organize business competition and cultural activity, strengthen the communication and exchange among members and cultivate healthy and progressive industrial culture.
●Carry out international exchange and cooperation of futures industry, join in international organization in name of China’s futures industry, promote relevant qualification authentication, and perform self-regulation normalization and management on foreign futures business.
●Other responsibilities provided by laws and administrative regulations and those granted by CSRC. 
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