Research On Regulation And Supervision System Of The Risk Of Futures Companies

The Central People's Government of the People's Republic of China and China Securities Regulatory Commission promulgated some new Futures regulatory laws in 2007,such as《Regulation on the Administration of Futures Trading》,《Measures for the Administration of Futures Exchanges》,《Administrative Measures for Futures Companies》.These regulations can consummate the Regulation and Supervision system of Futures market and are important to keep stability and development of our Futures market.Because Futures Companies connect investors to other participators,it is very important to defend and control the risk of Futures Companies for reducing risk of Futures market.This is the very motivation of my writing this article.The structure of my research is as follow:First,I probe into the fundamental theory of Regulation and Supervision of the risk of Futures Companies.Second,I analyze the problems which have existed in Regulation and Supervision of the risk of our Futures Companies through cases.Third,I review Regulation and Supervision system of the risk of foreign Futures Companies by using method of comparison.At last,I give my advices on legal viewpoint.To be detailed:The first chapter is an overview of fundamental theory including the concepts and characteristics of Regulation and Supervision of the risk of Futures Companies.Section one refers the relative concepts of risk financial Companies including risk,financial risk and risk of financial Companies.Section two refers the necessity of Regulation and Supervision of the risk of Futures Companies.First,the definition of financial character of Futures Companies is introduced.Next,five kinds of risk including market risk,credit risk,liquidity risk,Operational risk and legal risk are expatiated on.Last,I introduce the necessity and particularity of Regulation and Supervision of the risk of Futures Companies.Section three refers the principle and object of Regulation and Supervision of the risk of Futures Companies.Chapter two details the status in quo and causes of problems arisen from inside and outside of Regulation and Supervision of the risk of Futures Companies.Section one refers the status in quo of Regulation and Supervision of the risk.Section two refers the causes of problems arisen from Regulation and Supervision of the risk.Chapter three details experiences of Regulation and Supervision of the risk of foreign Futures Companies.Section one refers the experiences of Regulation and Supervision of the risk of foreign Futures Companies with the case of FCStone.Section two refers the Supervision modes of the USA,Britain and Japan.In chapter four,I give my own advices on consummating the legal mechanism of Regulation and Supervision of the risk of Futures Companies. Specifically,in the aspect of internal regulation,the advices are using legal means to consolidate corporate governance and standardize internal regulation contributing to defending and controlling risk.In the aspect of exterior supervision,the advices are consummating the legal system, defining the function of supervision organization,consolidating self-regulation of China Futures Association and regulation of Futures exchange to create advantage of exterior condition.