Founded on December 29, 2000, China Futures Association (hereinafter referred to as“CFA”) is a self-regulatory organization for the China futures industry. It was established in accordance with the Regulations on the Registration and Management of Social Organizations and is a non-profit social organization legal person registered in Beijing. CFA is under the supervision and management of the China Securities Regulatory Commission (CSRC) and the Ministry of Civil Affairs of the People's Republic of China, the organization registration management authority.
General Meeting is the highest authority of CFA, while the Council refers to the standing authority of CFA during the intersession of General Meeting. The Council is currently composed of 17 professional committees, namely Brokerage Business, Asset Management, Derivatives Traders, International Business, Information Technology, Self-regulatory Supervision, Appeals, Dispute Resolution, Talent Cultivation, Investor Education & Protection, Research & Development, Financial Technology, Law, Social Responsibility, Cultural Development, Talents Cultivation Fund Management Committee and Investor Education Fund Management Committee. CFA has one chairman, several vice chairmen, and one secretary general. The 11 functional departments include General Office, Discipline Inspection Office, Membership I, Membership II, Self-regulatory Supervision, Innovation Business, Investor Education, Examination and Certification, Research, Training, Information Technology.
CFA Mission: Under the premise of centralized and unified supervision and management on futures industry by the country, CFA aims at realizing self-regulation management on futures industry; exerting the bridge and link roles between government and futures industry, to serve the members and safeguard the legitimate interest of them; sticking to the openness, fairness and justice of futures market, to keep just competition order of futures industry, to protect investors’ interests and to promote the standardized development of futures market.
Functions of CFA include:
1. Educate and organize members to comply with futures laws, regulations and policies;
2. Formulate industry self-discipline rules that members should abide by, supervise and inspect the behavior of members, and give disciplinary sanctions in accordance with the regulations for violations of the association's articles of association and self-discipline rules;
3. Responsible for the qualification, management and cancellation of futures practitioners;
4. Accept customer complaints related to futures business, and mediate disputes between members and between members and customers;
5. Safeguard the legitimate rights and interests of members in accordance with the law, provide suggestions and inquiries of members to the futures regulatory agency of the State Council;
6. Organize training for futures practitioners and business exchanges among members;
7. Organize members to conduct research on the development, operation and related content of the futures industry;
8. Other duties as stipulated in the article of the association.