China Securities Regulatory Commission: steadily advancing the chief risk officer system of futures companies

-Our correspondent Houtienin a few days ago, China Securities Regulatory Commission Futures department, China Futures Association held in Beijing, "futures company chief Risk Officer Symposium," from more than 90 futures companies in the chief risk officer participated in this meeting.　　Jiang Yang, assistant chairman of China Securities Regulatory Commission, said at the meeting, the implementation of the chief risk Officer system is to adapt to the rapid development of the futures market and the changing regulatory situation, is to strengthen the futures company compliance supervision of an important basic system construction. Jiang Yang said that the chief risk officers should be responsible, responsible, and responsible, better play in the futures Company's compliance construction of the positive role.　　The Supervision Department will study and promulgate the relevant supervision work guideline, support the chief risk officer to fulfill the duty according to law, further perfect the restraint mechanism of the futures Company's internal governance, improve the compliance operation level of the futures company, promote the construction industry credit culture and protect the investors ' lawful rights and interests. Jiang Yang pointed out that in recent years, under the guidance of the national strategic thinking on "Steady development of futures market", the futures market showed a good momentum of steady and healthy development. The market scale steadily expands, the product innovation orderly advancement, the economic function gradually plays, the rapid development of the futures market has put forward the new higher request to the futures Company's legal standard operation. The implementation of the chief risk Officer system is an important measure to further strengthen the futures Company's compliance construction on the basis of establishing and perfecting the basic system, such as the risk early warning supervision system with the net capital as the core, the security deposit control system and the real name of the futures company.　　The establishment of the chief risk officer system is helpful to perfect the management structure of the futures company, to strengthen the company's internal control and risk management, to promote the company's prudent operation, to protect the investors ' lawful rights and interests, and to establish the industry credit culture. He said that the management requirements of the Chief Risk Officer (trial) of the Futures Company (for the trial provision) had been implemented since May 1, 2008, the chief risk officer system plays an important role in the compliance operation and risk management of futures companies, and the futures companies have also done some useful explorations in promoting the role of chief risk officer. Some good practices have emerged. However, any system innovation from the implementation to the gradual improvement is a long-term, complex and arduous process, the chief risk officer system is still in the initial stage, it will inevitably encounter all kinds of difficulties and obstacles. He pointed out that the chief risk officers to raise awareness, firm confidence in the work to achieve "clear responsibility first, responsibility for the first, responsible for", with a high sense of responsibility, mission and practical action to win the company's understanding and support. He stressed that "clear responsibility" is to solve the problem of understanding. In particular, we should understand the special requirements of futures companies as financial concession institutions in market access, supervision and risk management, accurately grasp the functional positioning of futures companies, promote the development of the company around the main industry, monitor the various risks in the operation; "Responsibility" is to solve the problem of implementation. In strict accordance with the "trial provisions" of the various norms of conduct and responsibility requirements to ensure that the compliance system is implemented; "Due diligence" is to solve the problem of attitude, and do a good jobRegulation management, strengthen compliance awareness, improve professional quality. To facilitate the chief risk officer, Jiang Yang said, in the future, the regulatory departments will be from the system and supporting policies and other aspects of the corresponding support: On the one hand, in the system, further study the introduction of relevant supervision work guidelines, the "trial provisions" of the content of refinement and implementation; On the other hand, the chief risk Officer provides various regulatory support, Actively create conditions for the chief risk officer to work. At the same time, we will further strengthen the communication between the supervision Department, the self-discipline organization and the chief risk officer, and actively explore the effective way to play the role of chief risk officer. China Futures Association will also strengthen the follow-up education and training to the chief risk officer, comprehensively improve the overall quality of the chief risk officer.