Research Of China’s Commodity Futures Investors Appropriateness Management

Investors Appropriateness is an important mechanism that regulate the behavior ofselling financial products or services for financial intermediaries and has been widelyusing in the foreign mature capital market to protect the rights and interests of investors,Appropriateness began in the United States last century, as a self-discipline of securitiesinstitutions, for the later, gradually evolved into the legal obligations that financialintermediary institution shall bear. In recent years, the European Union, Japan and otherdeveloped countries have established the system of investors Appropriateness. In ourcountry, the Investors Appropriateness is only applied on the financial futures. For theInvestors Appropriateness of Commodity Futures that the number of investorsparticipate in is still on the stage of exploring and researching. the China SecuritiesRegulatory Commission, the general office of the state council and other departmentshave issued the relevant regulatory documents to promote the China’s CommodityFutures Investors Appropriateness Management work Since2011, but how about theprogress at present, what kind of problem exist, what are the restricting factors, there isno still related research.The article introduces the Investors Appropriateness management theory, China’sCommodity Futures Investors Appropriateness Management system architecture and themajor regulations at first, then elaborates its status taking a region for example:information survey of investors is not comprehensive and its effectiveness is notverified, the evaluation and classification standard of the investors is neither unified norscientific, products risk hierarchy is lack, appropriateness match is not only reallyimplemented but aslo lack of continuous, and analyze deeply the restricting factorsinvolving system，execution，the external environment. In addition, through make thecomparison about the system architecture and the main regulations of investorsappropriateness management among the United States, the European Union and Japan,we summarize the advanced management experience:the legislation classification is onthe high level, the investors classification mechanism is perfect, the obligations isclear,the legal liability and relief channels are applied.etc. Finally, combining with theproblems of China’s Commodity Futures Investors Appropriateness Management andthe experience of others countries, we put forward the three aspects suggestions that improve the Commodity Futures Investors Appropriateness Management level:tofurther perfect the system arrangement,to further strengthen the execution of thesystem,and to further optimize the external environment.