These Regulations are promulgated pursuant to Article 82, paragraph 3 of the Futures Trading Act.

A futures advisory enterprise may operate the following types of business:
1.Accepting mandates to provide research and analysis opinions or recommendations on matters relating to futures trading, futures trust funds, futures-related commodities, or other trades or investments announced or approved by the competent authority.
2.Producing publications or lecture courses related to the matters of the preceding subparagraph.
3.Related types of business as approved by the competent authority.
A futures advisory enterprise that operates the futures trading and futures trust fund advisory business of subparagraph 1 of the preceding paragraph shall do so only with respect to the types of futures trades for which a futures commission merchant may be mandated, as publicly announced by the competent authority pursuant to Article 5 of the Futures Trading Act, and futures trust funds whose offering is approved by the competent authority.
A futures broker, managed futures enterprise, or securities broker that concurrently operates a futures advisory enterprise and provides advisory services on securities other than futures trust funds shall first obtain a business license for concurrent operation of securities investment consulting business.

The term "responsible person" as used in these Regulations means the person who shall bear responsibility under Article 8 of the Company Act or the provisions of other laws.

The term "associated persons" as used in these Regulations means those handling the following operations for a futures advisory enterprise:
1.Providing opinions on research and analysis or recommendations on matters relating to futures trading, futures trust funds, futures-related commodities, or other trades or investments announced or approved by the competent authority.
2.Engaging in promotions, solicitations, lectures courses, or publication activities related to the matters of the preceding subparagraph.
3.Performing internal auditing.
4.Other approved business.

A futures advisory enterprise shall establish internal control systems pursuant to the competent authority's Regulations Governing Establishment of Internal Control Systems in Securities and Futures Service Enterprises and the standards for futures advisory enterprises' internal control systems prescribed by the Chinese National Futures Association ("the Futures Association") and other futures-related institutions.
Future advisory enterprise business shall be operated in accordance with applicable laws and regulations, the enterprise's articles of incorporation, and the internal control systems referred to in the preceding paragraph.
Internal control systems formulated under paragraph 1, and any amendments thereto, shall be reported to the board of directors for their approval and retained on record; where the competent authority or a futures-related institution gives notice to amend an internal control system, the amendment shall be adopted within the prescribed time limit.

When any of the following circumstances occurs with respect to a futures advisory enterprise, the enterprise shall report to the competent authority via the Futures Association:
1.Commencement, suspension, resumption, or termination of operations.
2.Involvement by the futures advisory enterprise or by the responsible person or any associated person or other personnel of the futures advisory enterprise, in the course of enterprise operations, in litigation, arbitration, or being the obligor in a compulsory execution, or the futures advisory enterprise being a bankrupt or being refused service or having a negotiable instrument dishonored by a bank.
3.Any circumstance in Article 19 herein that applies to the responsible person or an associated person.
4.An act of the responsible person, an associated person, or any other personnel violates the Futures Trading Act or any competent authority order promulgated pursuant to the Futures Trading Act.
5.Any other matters requiring reporting under the regulations of the competent authority.
The enterprise shall report the circumstances under subparagraph 1 of the preceding paragraph prior to the fact; the enterprise shall report the circumstances under subparagraphs 2 through 4 by letter to the Futures Association within five business days from the day on which the the company learned of the occurrence of the fact.
The term "business day," as used in these Regulations, means one trading day on the domestic futures markets.

A futures advisory enterprise shall display its certificate of license prominently in its place of business.

A futures advisory enterprise shall establish internal auditing systems to audit its finances and operations at regular periods or from time to time; the audit reports shall be compiled in an audit report.
The audit reports referred to in the preceding paragraph shall note whether the enterprise's finances and operations are in compliance with applicable laws and regulations and the enterprise's internal control system.

The business of a futures advisory enterprise shall be carried out by qualified, registered associated persons; qualified, registered personnel shall wear identification badges when engaging in operations.