期货行业“反内卷”新规落地！中期协整治经纪业务恶性竞争，明确7大禁止性行为

Core Viewpoint - The China Futures Association (CFA) has released a draft of the "Management Rules for Unfair Competition in Futures Brokerage Business" to promote fair competition and prevent "involution" in the industry, ensuring the protection of traders' rights [1] Summary by Sections Overview of the Rules - The rules consist of 19 articles that establish a self-regulatory framework addressing various aspects such as behavior definition, fee management, prohibited actions, complaint reporting, and self-discipline [1] Definition of Unfair Competition - Unfair competition in futures brokerage is defined as actions by futures companies or their employees that disrupt the market order and harm the legitimate rights of other companies [1] Core Measures to Address Fee Involution - Establishing a system to standardize fee management, ensuring transparency in the processes of fee announcement, collection, adjustment, and follow-up [2] - Setting reasonable fee standards based on service costs, ensuring consistency in fee structures for similar clients [2] - Publicly disclosing the maximum fee standards on various platforms to ensure transparency [2] - Clearly defining and adhering to agreed fee rates or amounts with clients [2] - Increasing follow-up visits for high-frequency, high-fee, and loss-prone clients to enhance risk prevention [2] Prohibited Actions - The rules outline seven types of prohibited behaviors, including misleading advertising, distorting competitors' reputations, charging below the exchange's fee standards, and engaging in other unfair practices [3][4] Complaint and Self-Discipline Mechanisms - The rules enhance complaint and self-discipline mechanisms, allowing individuals to report violations to the CFA, which will conduct inspections and impose disciplinary actions as necessary [4][5] Implementation Timeline - A one-month preparation period is set for futures companies to establish internal control systems and cost assessments, followed by a two-month transition period for compliance with the new rules [5]