East Asia Futures is warned of lack of internal control management

Zhongxin Jingwei, October 13 According to the news on the website of the China Association of Interbank Market Dealers, Shanghai East Asia Futures Co., Ltd. (hereinafter referred to as "East Asia Futures") was warned of the lack of internal control and management and ordered to make comprehensive rectification.

Source: website of dealers association

The Association of Dealers pointed out that East Asia Futures, as the inter-bank bond market trading institution and asset management plan manager, will arrange persons who are not employed in East Asia Futures and who do not have futures practice qualifications to serve as investment managers of relevant asset management plans from August 2021 to March 2022, and carry out a number of cash bond transactions in the inter-bank bond market. In addition, East Asia Futures did not understand the counterparties and trading strategies of relevant transactions, and its internal control and management were lacking.

The Association of Dealers said that, according to the relevant self-discipline regulations of the inter-bank bond market, after the deliberation of the self-discipline disciplinary meeting, East Asia Futures was warned; He was ordered to carry out comprehensive and in-depth rectification against the internal management problems exposed in this incident.

According to the official website, East Asia Futures was founded in 1993 and its business scope covers commodity futures brokerage, financial futures brokerage, futures investment consulting and asset management. The company is one of the earliest futures companies in China. With the continuous growth of China's futures industry, it has accumulated rich operating experience, gathered a group of "professional, dedicated, professional" management and customer service talents, operated in a standardized, honest and trustworthy manner, and can provide investors with meticulous trading, delivery, settlement, and pledge services. (Zhongxin Jingwei APP)

key word: East Asia futures Inter-bank bond dealer