9月12日，证监会发布修订后的《期货公司分类评价规定》（下称《规定》），完善扣分标准，优化加 分标准，进一步完善期货行业分类监管体系，更好分配监管资源。 此次修订主要在扣分机制方面进行了完善，包括明确扣分依据，对期货公司扣分，原则上均需以生效的 监管措施等法律文件为依据，按照措施扣分；完善监管措施类型和对应分值，详细梳理现有期货公司监 管法律法规包含的监管措施、行政处罚类型，根据措施轻重程度，分门别类赋予不同的扣分分值；消除 重复扣分，对于因同一违规事项分别对公司和人员采取监管措施的，不重复扣分，调整为择其重者扣 分；将股东、实控人违规行为纳入对公司的评价，督促相关主体遵守期货公司监管法律法规。合理设置 扣分梯度，促进发挥多种监管手段的综合惩治效果。 优化加分体系方面，《规定》强化服务实体经济能力指标，增加"产业客户日均持仓"指标，调整"机构 客户日均持仓"指标，对评价期内期货公司服务产业客户、机构客户情况进行评价，突出对产业客户参 与商品期货市场以及机构客户参与金融期货市场的支持。 同时，重塑市场竞争力加分体系。《规定》将市场竞争力指标调整为三大类9项指标，全面评价期货公 司各项业务开展情况、整体盈利水平和 ...

本次修订的主要内容包括完善扣分机制、优化加分体系、删除部分指标、调整专项评价、调整特殊 激励等。 记者9月12日从中国证监会获悉，为完善期货行业分类监管体系，更好分配监管资源，证监会修订 了《期货公司分类监管规定》，并以《期货公司分类评价规定》发布。 本次修订通过完善分类评价制度，更好反映期货公司合规风控能力，提高对期货公司监管效能，引 导期货公司合规稳健经营；统一扣分指标的评价标准和扣分逻辑，统一市场竞争力等指标的加分逻辑； 删除和简化部分指标，优化评价流程，压降专项评价指标，减轻行业负担。 【纠错】 【责任编辑:邱丽芳】 证监会资料图 在完善扣分机制方面，规定明确原则上以生效监管措施为依据实施扣分，消除重复扣分情形，合理 设置扣分梯度，促进发挥多种监管手段的综合惩治效果。 在调整专项评价方面，规定将专项评价整合和优化为3项，分别为服务国家战略、党建与文化建 设、信息技术建设。 在调整特殊激励方面，规定对配合监管部门开展风险处置、连续3个评价期内持续合规状况和风险 管理能力无扣分、与其他期货公司合并等情形予以加分激励。（记者刘羽佳、刘慧） 在优化加分体系方面，规定完善服务实体经济能力指标，将市场竞争力指标调 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Regulations on the Classification of Futures Companies" to enhance the regulatory framework and improve the allocation of regulatory resources in the futures industry [2][3]. Summary by Sections Overall Revision Approach - The revision emphasizes a goal-oriented approach to better reflect the compliance and risk control capabilities of futures companies, thereby improving regulatory effectiveness and guiding companies towards compliant and stable operations [2]. - It aims for coordination and uniformity by standardizing the scoring criteria and logic for both deductions and additions [2]. - The process has been simplified by removing and streamlining certain indicators, optimizing the evaluation process, and reducing the burden on the industry [2]. Key Changes in Regulations - The title of the regulations has been changed from "Regulations on the Classification of Futures Companies" to "Regulations on the Classification Evaluation of Futures Companies" [3]. - A refined deduction mechanism has been established, which bases deductions on effective regulatory measures, eliminates duplicate deductions, and sets reasonable deduction gradients [3]. - The addition system has been optimized, with the service capacity for the real economy being enhanced and the market competitiveness indicators adjusted into three major categories with nine specific indicators [3]. - Certain indicators have been removed, including "weighted adjusted average daily institutional client equity," "cost management capability," and "return on net assets," to better align with industry development [3]. - Special evaluations have been consolidated into three areas: service to national strategies, party building and cultural development, and information technology development [3]. - Special incentives have been adjusted to reward companies that cooperate with regulatory bodies in risk management, maintain compliance over three evaluation periods, and merge with other futures companies [3]. Public Feedback and Implementation - Prior to the revision, the CSRC solicited public opinions on the regulations, receiving general approval for the main ideas and content [3]. - The CSRC has carefully considered feedback and made appropriate modifications to the regulations, ensuring a comprehensive approach to implementation [3].

近日，中国证监会就《期货公司分类评价规定（征求意见稿）》（下称《分类评价规定》）向社会公开 征求意见。 据期货日报记者了解，这是《期货公司分类监管规定》自2009年实施以来的第四次系统性修订，标志着 期货行业监管体系进一步完善。 业内人士纷纷表示，在当前期货市场规模持续扩大、服务实体经济功能日益凸显的背景下，本次分类监 管制度的修订，将对期货公司业务开展以及行业未来发展格局产生深远影响。 顺应行业发展新态势 分类监管体系作为引领期货公司发展的重要制度，自2009年颁布实施以来，在合理调配监管资源、督促 期货公司规范运营与差异化发展，以及提升行业整体服务水平等方面，发挥着举足轻重的作用。 谈及本次修订，中国证监会表示，近年来，随着市场形势和行业状况的发展变化，分类监管制度在评价 期货公司合规风控状况、反映期货公司经营发展质量、引导期货公司服务实体经济等方面的不足逐渐显 现。 优化指标体系强化监管导向 据记者了解，本次《分类评价规定》的修订，对期货公司的评价指标体系进行了全面优化，通过细化、 调整相关加分和扣分标准，释放出多重监管信号。 浙商期货稽核部经理任志华在接受记者采访时表示，本次分类监管制度修订的立足点主 ...

Core Viewpoint - The recent revision of the "Futures Company Classification Supervision Regulations" aims to enhance the classification evaluation system, reflecting the compliance status, risk management capabilities, market competitiveness, and service capabilities of futures companies, thereby guiding them towards compliant and stable operations [1][3]. Summary by Sections Regulatory Changes - The new regulations consist of 44 articles, focusing on recent developments in the futures market and industry, clarifying scoring standards for classification evaluation, optimizing the scoring process, and simplifying evaluation procedures [1][2]. - Specific situations related to daily risk management that do not meet standards can incur automatic deductions without regulatory measures, including failing risk indicators and margin warnings [1]. Scoring Adjustments - The regulations have removed the minimum compliance score for market competitiveness and adjusted the scoring for serious violations, ensuring that companies with significant legal issues do not receive competitiveness points [2]. - The scoring system has been refined to include three categories of market competitiveness indicators, focusing on business performance, profitability, and capital strength, with new metrics introduced for various business types [2][5]. Special Evaluations - The China Securities Regulatory Commission (CSRC) may conduct special evaluations on futures companies regarding their contributions to national strategies, party building, and technological advancements [3]. - The "insurance + futures" service has been moved to a special evaluation category, emphasizing its role in supporting national strategies [3]. Governance and Compliance - The revised regulations emphasize objective scoring based on regulatory measures, reducing subjective judgment and enhancing accountability in governance [4]. - New provisions have been added to penalize shareholders for violations and to impose stricter penalties for repeated offenses, indicating a focus on improving corporate governance [4]. Market Impact - The adjustments in the scoring system are expected to promote a more precise service to the real economy, with a focus on industry clients and long-term capital clients [5]. - Companies with lower-than-average fee rates will receive additional scoring benefits, which may lead to a reshaping of the industry landscape, encouraging firms to focus on core business and diversify their operations [5]. Future Directions - The industry may see a shift towards a consulting fee model for brokerage services, with firms encouraged to develop advisory teams [6]. - Leading companies are advised to engage more actively in the development of derivatives for strategic commodities, while smaller firms may consider mergers as a pathway to rapid growth [6].

优化加分标准方面，征求意见稿优化完善服务实体经济能力指标。将"机构客户日均持仓"指标调整 为"产业客户日均持仓"，增加"中长期资金客户日均持仓"指标，并明确产业客户、中长期资金客户定 义，对评价期内期货公司服务产业客户、中长期资金客户情况进行评价，突出对产业客户参与商品期货 市场以及中长期资金客户参与金融期货市场的支持。(完) 上述征求意见稿共四十四条，重点针对近年来期货市场形势和期货行业状况的发展变化，进一步明确了 期货公司分类评价的扣分标准，优化了加分标准，简化了评价流程。 其中，明确扣分标准方面，征求意见稿明确与期货公司日常风控相关，具有客观、明确标准的特定情形 无需监管措施即可扣分，主要包括风险监管指标不达标、保证金预警等。除上述情形外，原则上均需按 照监管措施等扣分。按照监管措施、行政处罚、刑事处罚不同，扣分分值分别从0.5分至10分不等。 中新社北京6月13日电 (记者陈康亮)中国证监会13日发布消息称，对《期货公司分类监管规定》(下称 《规定》)进行修订，形成了《期货公司分类评价规定(征求意见稿)》，向社会公开征求意见。 证监会有关部门负责人表示，近年来，随着市场形势和行业状况的发展变化，分类监 ...