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DCE Holds the First Legal Compliance Training for Futures Companies’ Overseas Business

Date:12 August 2019
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To meet the actual demand of member entities, Dalian Commodity Exchange (DCE) recently holds the Legal Compliance Training for Futures Companies’ Overseas Business in Shanghai and shares its professional advice on and research results of the practical legal issues after the internationalization. A total of 47 member entities in Jiangsu Province, Zhejiang Province and Shanghai and a total of 75 chief risk officers and chiefs of the internationalization business took part in the activity.

It is learnt that this is the first legal compliance training for overseas business organized by DCE. In the training, a DCE official makes a detailed explanation on the legal issues that futures companies may face when develop business in the US, Hong Kong, Singapore and other 12 countries (regions) should pay attention to, sorts out the regulation principles of these countries (regions) and summarizes their regulation modes, and offers suggestions for the overseas business compliance according to the practical problems of overseas business occurred in the survey.

The legal issues related to the overseas business that DCE has shared include the following three aspects. The first is whether futures companies can open accounts opened for clients in that country; the second is whether futures companies can accept the sub-entrustment of a broker in that country and the way of checking the license of a broker in that country; and the third is whether futures companies can do market promotion to the participants in that country or in the territory of that country. The countries (regions) involved in the training include those in Asia, Europe, Oceania, North America and Africa.

The trainees say that this training is helpful to resolve the legal issues in the overseas business and hope that DCE will continue to organize similar activities.

A DCE official say that DCE will plan to organize the legal compliance training for overseas business involving more countries (regions) to member entities, thus helping them to tackle the new challenges in overseas legal risks, improving the international competence of Chinese futures companies and facilitating the steady internationalization of the Chinese futures market.

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

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