(Approved by the sixth general meeting of China Futures Association on September 5, 2023, and approved by the Ministry of Civil Affairs on November 27, 2023)
general provisions
Article 1 The name of the Association is China Futures Association (hereinafter referred to as the Association), and the English name is China Futures Association , abbreviated as CFA 。
Article 2 The Association is a national self regulatory organization in the futures industry established in accordance with the Futures and Derivatives Law of the People's Republic of China (hereinafter referred to as the Futures and Derivatives Law), the Regulations on the Administration of Futures Trading and the Regulations on the Administration of Registration of Social Organizations, and is a non-profit social organization legal person.
Article 3 The purpose of the Association is to adhere to the principles of Marxism Leninism, Mao Zedong Thought, Deng Xiaoping Theory “ Three Representatives ” Under the guidance of important thoughts, scientific outlook on development, and Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and on the premise that the country implements centralized and unified supervision and management of the futures market, the futures industry should implement self-discipline management; Under the guidance and supervision of the China Securities Regulatory Commission (hereinafter referred to as the CSRC), the futures related derivatives trading business shall be subject to industrial self-discipline management; Give play to the role of bridge and link between the government and the industry to serve members and safeguard their legitimate rights and interests; Adhere to the openness, fairness and justice of the market, maintain the legitimate competition order of the industry, protect the legitimate rights and interests of traders, and promote the standardized development of the market.
The Association abides by the Constitution, laws, regulations and national policies, practices core socialist values, promotes patriotism, abides by social morality, and consciously strengthens the construction of integrity and self-discipline.
Article 4 The Association adheres to the overall leadership of the Communist Party of China and, in accordance with the provisions of the Constitution of the Communist Party of China, establishes the organization of the Communist Party of China, carries out the activities of the Party and provides necessary conditions for the activities of the Party organization.
The Party Committee of the Association should play a leading role, take the direction, manage the overall situation and ensure the implementation, discuss and decide on major issues of the Association in accordance with the provisions, and ensure that the guidelines and policies of the supervision party and the country are fully implemented in the Association.
Article 5 The Association accepts the business guidance, supervision and management of the competent business unit, the China Securities Regulatory Commission, and the Ministry of Civil Affairs of the People's Republic of China (hereinafter referred to as the Ministry of Civil Affairs), the registration and administration authority of associations.
Article 6 The domicile of the association is located in Beijing.
Chapter II Responsibilities
Article 7 Formulate and implement self-discipline rules of the industry, supervise and inspect the business activities of members and the practice behaviors of employees, and give disciplinary punishment or implement other self-discipline management measures in accordance with the provisions for those who violate laws, administrative regulations, relevant national regulations, the Association's Articles of Association and self-discipline rules.
Article 8 Mediate disputes between members and between members and traders.
Article 9 Safeguard the legitimate rights and interests of members according to law, and reflect the suggestions and requirements of members to the CSRC and other departments.
Article 10 Educate members and futures practitioners to abide by futures laws, regulations and policies, organize the construction of industry integrity and industry culture, establish an incentive and restraint mechanism for industry integrity, and promote the industry to fulfill its social responsibilities.
Article 11 Carry out trader education and protection, urge members to implement the trader suitability management system, and carry out the promotion of futures and related derivatives markets.
Article 12 Implement self-discipline management on members' information security work, and urge members to implement relevant national and industrial information security regulations and technical standards.
Article 13 Organize members to study the development, operation and relevant contents of the futures and related derivatives industry, collect, sort out and release information on the futures and related derivatives market, provide member services, and organize industry exchanges and business exchanges between members.
Article 14 Formulate and implement talent development strategies for futures and related derivatives industries, and strengthen talent team building; To formulate standards of ethics and conduct for futures practitioners; In accordance with relevant laws and regulations, formulate standards for professional competence, carry out practice registration of practitioners, and implement classified and hierarchical self-discipline management of practitioners; In accordance with relevant laws and regulations, formulate rules for evaluating and testing the professional competence of futures practitioners, directors, supervisors and senior managers, and organize their implementation; Organize business training for futures practitioners.
Article 15 Establish special funds to provide financial support for talent training, trader education or other specific businesses in futures and related derivatives industries.
Article 16 To formulate codes of conduct, business norms and group standards for the futures and related derivatives industry, and participate in the formulation of industry standards for futures and related derivatives markets.
Article 17 Guide the innovative development of the industry, promote the development of risk management business, and improve the ability of industry institutions to serve the real economy.
Article 18 Implement industry self-discipline management on derivatives transactions and related business activities of important traders in futures related derivatives markets in accordance with self-discipline rules.
Article 19 Carry out international exchanges and cooperation in futures and related derivatives industries, join international organizations, and promote mutual recognition of relevant qualifications.
Article 20 Implement industry self-discipline management on domestic specific futures trading and related business activities and other cross-border businesses according to self-discipline rules 。
Article 21 Other duties specified by laws and regulations, entrusted by the CSRC and decided by the general meeting.
The above responsibilities are subject to approval as required by laws, regulations and rules, and shall be carried out after approval according to law.
Chapter III Members and Observers
Article 22 The members of the Association are unit members.
Article 23 Members of the Association shall meet the following conditions:
（1） Support the Articles of Association;
（2） Comply with laws and regulations and engage in futures and derivatives business or related activities;
（3） Other conditions required by the Association.
Article 24 The members of the Association are legal members, ordinary members, special members and associate members:
（1） Legal members refer to the futures operating institutions specified in Article 59 of the Futures and Derivatives Law.
（2） Ordinary members refer to other legally established institutions engaged in futures and derivatives related businesses.
（3） Special members refer to the institutions that have been approved by the CSRC to organize the operation and management of futures markets such as futures trading, settlement, monitoring of the safe custody of futures deposits, index release, and other institutions that organize derivatives trading and settlement.
（4） Associated members refer to the futures and derivatives industry social organization legal persons of provinces, autonomous regions, municipalities directly under the Central Government, and cities specifically designated in the state plan approved by local civil affairs departments, futures service institutions, and other relevant institutions recognized by the Association to participate in the futures and derivatives market.
Article 25 Legal members shall join the Association; The institutions specified in Item 2, Item 3 and Item 4 of Article 24 of the Articles of Association can join the Association with the approval of the Association.
Article 26 When applying to join the Association, the institution shall register according to the requirements of the Association.
Article 27 The member shall have one representative, who shall be the legal representative, the main person in charge or the senior management authorized by the legal representative, to perform the duties of the member on behalf of the unit.
Members who change representatives must report to the Association in writing.
Article 28 Members enjoy the following rights:
（1） The right to vote, stand for election and vote of the association;
（2） Require the association to protect its legitimate rights and interests from infringement;
（3） The right to reflect opinions and suggestions to relevant departments through associations;
（4） The right to participate in activities organized by the Association and to receive services from the Association;
（5） The right to criticize, suggest and supervise the work of the Association;
（6） Have the right to hear and appeal the disciplinary punishment given by the Association;
（7） Other rights added by the resolution of the General Assembly.
Article 29 Members shall perform the following obligations:
（1） Abide by the Articles of Association and other self-discipline rules;
（2） Implement the resolutions of the Association;
（3） Pay membership dues as required;
（4） Support the work of the Association and safeguard the interests of the industry;
（5） Participate in various activities organized by the Association;
（6） Reflect the situation to the Association and provide data information and other materials of futures and related derivatives business as required by the Association;
（7） Accept the supervision and inspection of the Association;
（8） Fulfill the obligation of announcement according to the provisions of the Association;
（9） Other obligations added by the resolution of the General Assembly.
Article 30 Termination of Membership:
（1） If two or more member units merge, the membership will be inherited by the surviving unit or the newly established unit, and the original membership will automatically terminate;
（2） The member is revoked according to law;
（3） Being punished by the Association for canceling its membership;
（4） Member withdrawal;
（5） Other circumstances leading to the termination of membership.
Article 31 Overseas traders, overseas brokerage institutions and relevant institutions engaged in futures and derivatives business approved by overseas securities and futures regulatory institutions or overseas futures and derivatives industry associations that directly engage in domestic specific types of futures trading in futures exchanges may apply for and be approved by the Association to become observers.
Article 32 Observers should support the work of the Association and safeguard the interests of the industry. Observers can participate in the activities held by the Association and reflect their opinions and suggestions to the relevant departments through the Association.
Article 33 Observers do not have the right to vote, stand for election or vote in the association.
Chapter IV Organizational Structure
Section I General Meeting
Article 34 The General Assembly is the highest authority of the Association, and its responsibilities are:
（1） Formulate and amend the Articles of Association;
（2） Review the work report and financial report of the Council;
（3） Elect and remove members other than special members;
（4） Formulate and revise the membership fee standard;
（5） To decide on the merger, division and termination of the Association;
（6） To decide on other matters to be considered by the General Assembly.
Article 35 The general meeting can be convened only when more than two-thirds of the members are present, and its resolution can take effect only when more than half of the members present vote.
The formulation and amendment of the Articles of Association, as well as the decision on the merger, division and termination of the Association, must be approved by more than two-thirds of the members present.
Article 36 The general meeting is organized and held by the Council every four years. The Board of Directors shall convene an extraordinary general meeting if it deems it necessary or more than one third of the members propose jointly.
If the general meeting needs to be changed in advance or postponed due to special circumstances, it must be voted by the board of directors, reported to the CSRC for review and approved by the Ministry of Civil Affairs. The term of extension shall not exceed one year.
Section II Council
Article 37 The Council is the executive body of the General Assembly, leading the Association to carry out daily work when the General Assembly is not in session, and is responsible for the General Assembly.
The responsibilities of the Council are:
（1） Prepare for the convening of the general meeting, and implement the resolutions of the general meeting;
（2） Report work and financial status to the General Assembly;
（3） Decide to establish professional committees and special fund management committees;
（4） Elect and recall the president and vice president of the association;
（5） Appoint and dismiss the Secretary General and Deputy Secretary General;
(VI) Appoint and dismiss the chairman and vice chairmen of each professional committee;
（7） When the general meeting is not in session, the membership of the member who fails to perform his duties shall be suspended;
(VIII) Formulate and promulgate the self-discipline rules, industry standards and business norms of the Association;
（9） To decide on the annual work plan, budget and final accounts of the Association;
（10） To decide on the admission or expulsion of members;
（11） Commend, reward and punish members;
（12） Decide on other major issues.
Article 38 The Council is composed of members and non members.
The members are elected by the General Assembly, and the special members are ex officio members of the Association. According to the authorization of the General Assembly, the Board of Directors may add or remove some directors during the session, up to one-fifth of the total number of directors.
Non member directors shall be appointed by the CSRC. Non member directors shall not exceed one fourth of the total number of directors.
Article 39 The term of office of the directors is four years, and they can be re elected.
Article 40 Member directors shall meet the following conditions:
（1） Be representative among members;
（2） Can normally exercise the rights and obligations of members;
（3） Enthusiastic in the work of the Association and actively participate in the activities of the Association;
（4） Honesty and credibility, standardized operation and strict self-discipline;
(V) Have a sense of social responsibility and industry mission, and have a certain influence in the industry;
（6） Other conditions required by the general meeting.
If a member director fails to meet the above conditions when the general meeting is not in session, the president shall request the council to suspend his or her membership.
Article 41 The director representatives selected by member directors shall meet the following conditions:
（1） The senior management personnel of member directors, among which the director representative of the futures company and its subsidiaries shall be the general manager of the company or the chairman of the board as the legal representative;
（2） More than three years of experience in the financial industry;
（3） Enthusiastic in serving the industry and having great influence in futures or related business fields;
（4） Within three years, he has not been subject to the administrative punishment of the CSRC or the disciplinary punishment of the association's employment restriction;
（5） Other conditions required by the general meeting.
If the director representative does not meet the above qualifications, the member director shall change the director representative. Prior to the change, the Council suspended its membership.
If a member director changes the director representative, the changed director representative shall meet the conditions specified in this article and be reviewed and approved by the board of directors.
Article 42 The Council shall meet at least once a year; An interim meeting of the Board of Directors shall be convened when more than one third of the directors propose jointly, or when the President's Office deems it necessary. The board of directors is generally held on the spot, and in special circumstances, it can be held by means of communication.
The board of directors can be convened only when more than two-thirds of the directors' representatives are present, and its resolution can take effect only when more than two-thirds of the directors' representatives present vote.
Section III President's Office Meeting and Person in Charge
Article 43 The Association has one president, several full-time vice presidents, several part-time vice presidents, one secretary-general, and several deputy secretary-generals.
The President and full-time Vice President shall be nominated by the CSRC and elected by the Council; The part-time vice presidents are nominated by the president and elected by the council. The secretary-general and deputy secretary-general shall be recommended by the CSRC, nominated by the president, and appointed by the board of directors.
Article 44 The President, Vice President and Secretary General of the Association shall meet the following requirements:
（1） Adhere to the leadership of the Communist Party of China, support socialism with Chinese characteristics, resolutely implement the Party's line, principles and policies, and have good political quality;
（2） Good influence and high reputation in futures and related industries;
（3） More than three years working experience in futures and related industries;
（4） Strong ability of organization and coordination;
（5） Love the work of the association;
（6） Not older than seventy One year old, the Secretary General is full-time;
（7） Be in good health and have full civil capacity;
（8） Have not received criminal punishment of deprivation of political rights;
（9） Other conditions required by the general meeting.
Article 45 The term of office of the President, Vice President and Secretary General of the Association is four years.
Without the approval of the CSRC and the Ministry of Civil Affairs, the President and Vice President shall not be re elected for more than two consecutive terms.
Article 46 The President is the legal representative of the Association, who signs relevant important documents on behalf of the Association and performs the following duties:
（1） Preside over the general meeting;
（2） Convene and preside over board meetings and president's office meetings;
（3） Organize and implement the systems, resolutions, work plans, budgets and final accounts passed by the General Assembly, the Council and the President's Office;
（4） Check the implementation of the resolutions of the General Meeting, the Council and the President's Office;
（5） Nominate part-time vice presidents, secretaries general, deputy secretaries general, chairmen and vice chairmen of professional committees;
（6） To decide on the plan for the establishment of the daily office of the Association;
（7） Employ the head of each department of the daily office of the Association, and employ the full-time staff of the Association;
（8） Other duties authorized by the Council.
The Vice President shall assist the President in his work. If the President is unable to perform his duties for some reason, the full-time Vice President designated by the President shall perform his duties on his behalf.
The legal representative of the association shall not concurrently serve as the legal representative of other associations.
Article 47 The Association has a president office, which is composed of the president, full-time vice presidents, secretary-general, deputy secretary-general and other personnel designated by the president.
Article 48 The President's Office shall exercise the following functions and powers:
（1） Implement the resolutions of the General Assembly and the Council;
（2） Decides to convene an interim meeting of the Council;
（3） Decide on the daily work of the Association.
Section 4 Professional Committee
Article 49 The Association sets up professional committees and special fund management committees to carry out work in accordance with the authorization of the Council.
Article 50 The professional committee does not have the status of a legal person. The professional committee is composed of representatives of member units and industry experts in corresponding professional fields.
Chapter V Funds and Assets Management
Article 51 The fund source of the association is:
（1） Membership fees;
（2） Social donation;
（3） Government funding;
（4） Income from activities and services carried out within the approved business scope;
（5） Other legitimate income.
Article 52 The fund of the Association shall be used for the business scope and career development specified in the Articles of Association and shall not be distributed among members.
Article 53 The Association has established a strict financial management system to ensure that the financial information is legal, true, accurate and complete.
Article 54 The Association is staffed with accountants with professional qualifications. The accountant shall not concurrently serve as the cashier. Accountants must conduct accounting and exercise accounting supervision. When an accountant is transferred or leaves his/her job, he/she must go through the handover procedures with the receiver.
Article 55 The assets management of the Association must implement the financial management system stipulated by the state and accept the supervision of the General Assembly and the relevant national departments. If the source of assets belongs to the state appropriation or social donation or subsidy, it must be subject to the supervision of the audit institution, and the relevant information must be disclosed to the public in an appropriate way.
Article 56 The Association must accept financial audit as required before changing its term of office or legal representative.
Article 57 No unit or individual may misappropriate, privately divide or misappropriate the assets of the association.
Article 58 The salary, insurance and welfare benefits of the full-time staff of the Association shall be subject to the relevant provisions of the State.
Chapter VI Amendment of the Articles of Association
Article 59 Any amendment to the Articles of Association shall be reported to the General Meeting for deliberation and approval after being voted by the Council.
Article 60 The revised articles of association of the association must be approved by the general meeting fifteen It shall be reported to the CSRC within days and approved by the CSRC thirty It shall be reported to the Ministry of Civil Affairs within days, and take effect after being approved by the Ministry of Civil Affairs.
Chapter VII Termination
Article 61 If the association has completed its purpose or dissolved on its own or needs to be cancelled due to division, merger or other reasons, the Council shall propose a motion for termination.
The motion for termination of the Association must be approved by the general meeting and then submitted to the CSRC for review and approval.
Article 62 Before the termination of the Association, a liquidation group shall be established under the guidance of the CSRC to clear up the creditor's rights and debts and deal with the aftermath. During liquidation, no activities other than liquidation shall be carried out.
Article 63 The Association will be terminated after the Ministry of Civil Affairs handles the cancellation of registration procedures.
Article 64 The remaining assets after the termination of the Association shall, under the supervision of the CSRC and the Ministry of Civil Affairs, be used to develop undertakings related to the purposes of the Association or donated to social organizations with similar purposes in accordance with relevant national regulations.
Chapter VIII Supplementary Provisions
Article 65 The "above" in the Articles of Association includes this number.
Article 66 The right to interpret the Articles of Association belongs to the Council of the Association.
Article 67 The Articles of Association are two thousand and twenty-three year nine month five It was approved by the vote of the sixth general meeting of the General Assembly on July.
Article 68 The Articles of Association shall come into force as of the date of approval by the Ministry of Civil Affairs. 
