CFFEX Issues Measures On The Management Of Actual Control Accounts

To strengthen frontline supervision of accounts involving actual control relationship (“actual control accounts”), China Financial Futures Exchange (CFFEX) issues on February 5, 2021 the Measures on the Management of Actual Control Accounts of China Financial Futures Exchange (the “Measures”), which will take effect on February 8, 2021. The Guidelines on the Reporting of Actual Control Accounts of China Financial Futures Exchange (Provisional) will be abolished simultaneously.

Compared with the Guidelines, the Measures are of a higher hierarchy in the CFFEX rule structure. Relevant provisions are also optimized to improve coordination with the China Futures Market Monitoring Center (“CFMMC”) in the management of Actual Control Accounts, strengthen comprehensive management, and further clarify the obligations of futures-company members and clients.

Next, in line with the CSRC's requirements of "Four Awes" and "One Synergy", CFFEX will continue to improve its rules and maintain a zero-tolerance policy against violations and breaches, while avoiding interference in normal market activities. CFFEX is committed to fulfilling its duties of frontline supervision, promoting a safe and stable financial futures market and continuously enhancing supervisory effectiveness, so as to further facilitate the functioning of the financial futures market.