CSRC Seeks Comments on Revising the Administrative Measures for Futures Practitioners
2023-04-28 Published by:Editor

On April 17, the China Securities Regulatory Commission (CSRC) issued the Administrative Measures for Futures Practitioners (Draft for Comment) (the "Draft"), which is open for public comments until May 14, 2023.

The Draft proposes the following main revisions: firstly, optimizing the management of futures practitioners by cancelling the management requirements for practitioner qualifications; secondly, improving the code of practice for futures practitioners and adding provisions for prohibited behavior; thirdly, enhancing the management responsibilities of institutions and improving the management mechanism for futures practitioners. The Draft also clarifies that futures practitioners are prohibited from privately accepting client orders for futures trading and from participating in futures trading directly or under an assumed name or the name of another person. Additionally, futures practitioners of futures companies are prohibited from engaging in prohibited activities such as futures trading consultation, futures market making, futures margin financing, futures proprietary trading, derivative trading, asset management, and other businesses.

(Source: China Securities Regulatory Commission)

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