The China Securities Association (csa) History
Since established on August 28, 1991, China Securities Association (CSA) has earnestly
enforced its Articles of Association and acted according to the principles of Legitimate, Supervision, Self-regulation and Normalization.
Under the supervision and direction of CSRC, China Securities Association (CSA) relies on its members to discharge its 3 major functions: Self-regulation, Bridging and Service. In the process of promoting self-regulation, enhancing integrity construction, reflecting comments and suggestions of the industry and improving the industrial development environment, China Securities Association (CSA) has made adaquate contributions to its role as the self-regulatory organization for the industry. On 22 January 2007, the fourth Member General Meeting was held and Mr. Huang Xiangping was elected as the Chairman.
The highest authority of China Securities Association (CSA) is the Member General Meeting which is composed by all members. The Board of Directors is the executive body. China Securities Association (CSA) operates under the Chairman Responsbility System. By May 1, 2007, China Securities Association (CSA) has 299 members in total, including 109 Securities Companies, 51 fund management companies, 92 securities investment consulting institutions, 3 assets managements companies and 44 special members (2 stock exchanges, 1 securities depository and clear company, 8 fund custodian institutions and 33 local securities associations).
The objectives of China Securities Association (CSA) are:
Conducting self-regulation over securities industry under the governnments centralized and comprehensive supervision and management;
Bridging between the Government and the industry
Providing services to members, protecting the lawful rights and interests of members
Maintaining fair competition order in securities industry, promoting transparency, justice and fairness of the securities market and push forward healthy and steady development of the securities market.
The Fourth Member General Meeting approved the amendments of the Articles of Association of China Securities Association (CSA). Functions and duties of China Securities Association (CSA) under the amended Articles of Association includes the following:
China Securities Association (CSA) shall, according to the Securities Law, enforce the following functions and duties:
Educates and organizes members to observe securities laws and regulations; Maintains members lawful rights and interests according to law;
Communicates members suggestions and demands to CSRC;
Collects securities information and provides services to members;
Formulates rules to be observed by members, organizes professional
training's for securities professionals emloyed by members, farcilates business exchanges among members;
Mediates on securities business related disputes among members or among members and their clients;
Organizes members to research on industrial development, operation and other related issues;
Supervises and inspects members conducts, excutes disciplanary measures on members voilatining laws, regulations and the Articles of Association of China Securities Association (CSA) according to relevant provisions.
Based on the executive regulations and CSRCs norms, China Securities Association (CSA) exerts the followed functions and duties:
lEnacting self-regulatory rulespracticing standards and business criteria.
Conducting self-regulatory administration on members and the securities professionals employeed by members;
In charging of qualification examinations, ratification and practice registration for securities professionals;
Organizing qualification tests for senior managers of securities companies, competence exams for sponsors and organizing continue education and training programs for such senior managers and sponsors;
In charging of securities information technoledge exchange and training, organizing and coordinating members to guarantee information safety, conducting appraisal on information safey risks for important informationa systems of securities companies, organizing investigation and identification of trading system accidents;
Enacting operation rules of the OTC system, supervising business conducts and information disclosure and other related matters regarding the OTC system;
Other responsbilities authorized by executive regulations and rules of CSRC.
According to the need of operational norms development, China Securities Association (CSA) exercises other obligations relating to self-regulation, service and bridging. It promotes integrity construction in the industry, urges members observe disclosure obligations, assesses and examines the integrity status of information disclosed by members.China Securities Association (CSA) formulates professional standards for securities professionals, arranges qualification examinations and advancement authentication for securities professionals, organizes international exchange and cooperation for the securities industry. China Securities Association (CSA) represents Chinese securities industry to join relative international organizations and promotes mutual recongnition of relative qualifications.China Securities Association (CSA) conducts other obligations relating to self-regulation, service and bridging.
by: gang zhao
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