The Securities Association of China (SAC; ) is a self-regulatory organization for

securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...

industry established according to the provisions of the "Securities Law of the People's Republic of China" and the "Administrative Regulations on the Registration of Public Organizations". SAC is a

non-profit A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization, or simply a nonprofit, is a non-governmental (private) legal entity organized and operated for a collective, public, or so ...

social institutional legal person function under the guidance and supervision of the

China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) is a government agency directly under the State Council of the People's Republic of China. It is the main regulator of the securities industry in China. History Indicative of the role of the C ...

(CSRC) and the Ministry of Civil Affairs of China. The SAC is one of three major membership organizations under the CSRC, together with the

China Futures Association The China Futures Association (CFA) is a membership organization under the China Securities Regulatory Commission (CSRC), which regulates and supervises the futures industry in China. It is established as a nonprofit organization in which all Ch ...

(CFA) and

Asset Management Association of China In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can b ...

(ACAM).

History

Since established on August 28, 1991, SAC has earnestly enforced it
Articles of Association
and acted according to the principles of "Legitimate, Supervision, Self-regulation and Normalization". Under the supervision and direction of CSRC, SAC relies on its members to discharge its 3 major functions: "Self-regulation, Bridging and Service".

Board of directors

The board of directors is the executive body. SAC operates under the Chairman Responsibility System. On 22 January 2007, Mr. Huang Xiangping was elected as the chairman in the fourth Member General Meeting. By May 1, 2007, SAC has 299 members in total, including: *109 Securities Companies *51 fund management companies *92 securities investment consulting institutions *3 assets managements companies *44 special members (2 stock exchanges, 1 securities depository and clear company, 8 fund custodian institutions and 33 local securities associations)

Objectives

* Conducting self-regulation over securities industry under the government's 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.

China Securities Internet System

The SAC administers the China Securities Internet System Co., Ltd. (CSIS), a

financial market infrastructure Financial market infrastructure refers to systems and entities involved in Clearing (finance), clearing, Settlement (finance), settlement, and the recording of payments, Security (finance), securities, Derivative (finance), derivatives, and other ...

approved by the CSRC on . CSIS is acknowledged by the

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in the 2009 G20 Pittsburgh Summit as a successor to the Financial Stability Forum (FSF) ...

as a trade repository for

commodities In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. Th ...

and

equity derivative In finance, an equity derivative is a class of Derivative (finance), derivatives whose value is at least partly ''derived'' from one or more underlying stock, equity securities. Option (finance), Options and Future (finance), futures are by far the ...

s, together with the

China Futures Market Monitoring Center The China Futures Market Monitoring Center (CFMMC), sometimes also referred to as the China Futures Margin Monitoring Center, is a financial market infrastructure in China. Overview The CFMMC was established on . It is one of 19 organizations aff ...

(CFMMC).

References

External links