强化主动治理 夯实期货业高质量发展根基

Core Viewpoint - The recent implementation of the "Futures and Derivatives Law" and the improvement of supporting regulations signify a comprehensive upgrade of the regulatory framework in China's futures industry, shifting the focus towards "functional guidance" [1][3]. Regulatory Focus - Over 40 penalties have been issued by local securities regulatory bureaus this year, with violations primarily related to internal control and corporate governance [2]. - Key areas of concern include internet marketing management, asset management business irregularities, and information technology management deficiencies [2]. - The weak links in internal control and compliance management have become the focal point of regulatory scrutiny, particularly in areas such as branch management and abnormal trading monitoring [2]. Industry Transformation - The introduction of the "Futures and Derivatives Law" and the new "National Nine Articles" provides direction for high-quality development in the futures industry [4]. - Futures companies are encouraged to focus on their core business and establish compliance and risk management as a core competitive advantage [4]. - Systematic adjustments in compliance management strategies are necessary to enhance risk management capabilities and ensure alignment with regulatory requirements [4]. Future Outlook - The regulatory environment is expected to tighten over the next 3 to 5 years, with stricter oversight of futures companies [4]. - The industry is likely to adopt regulatory experiences from the securities and fund sectors while making localized improvements to achieve higher governance standards [4].