The delegation which is conducting training at the National Accounting Institute in Beijing, China from July 24 thru July 28, 2006, is led by Jacqueline Mesa, Director, CFTC’s Office of International Affairs, and consists of senior staff members of the CFTC, a representative from a major U.S. commodity exchange, and a renowned representative from academia.
Jacqueline Hamra Mesa, CFTC Director of the Office of International Affairs, said: “The development of financially sound markets with high standards for market integrity and investor protection benefits both domestic and foreign market participants. This technical assistance program is part of our on-going dialogue between the CFTC and the CSRC and we look forward to expanding both our regulatory and enforcement cooperation with the CSRC”.
The CFTC and the CSRC entered into a Memorandum of Understanding regarding futures regulatory cooperation, and the provision of technical assistance in January of 2002. CFTC and CSRC share the goal of building and maintaining open, efficient and financially sound futures and options markets and recognize that the development of effective domestic legal and regulatory structures is essential to market integrity and investor protection. This technical assistance program, provided by the CFTC and funded by the CSRC, will reach approximately 150 persons comprised of CSRC staff from all over China as well as futures exchange representatives and industry professionals.
The training will focus on the following:
- Financial product development – contract design;
- Use of derivatives markets as a risk management tool;
- Market surveillance and compliance issues;
- Trade practice surveillance and investigation issues; and
- The clearing process and the use of intermediaries.
