General Assembly

Authority: the General Assembly is the supreme policy-making body of the Association.
Responsibilities:

1. To elect or recall board members or supervisors.
2. To make and revise CNFA Charter.
3. To approve annual working plans, budgets, auditing reports, and R&D projects.
4. To review proposals approved at the meetings of board members, supervisors, or General Assembly.
5. To take disciplinary actions against misbehaved member companies or member representatives.
6. To trade properties of the Association.
7. To approve settlement reports and appointments of settlement persons as well as handle other settlement-related issues.
8. To approve the dismissal of any board member or supervisor.
9. To approve member registration fees, annual membership fees, business promotion fees, and donations of member companies.
10. To approve other issues associated with member’s rights or obligations.

Board of Directors Chairman

Board members: The 33 board members were elected by member representatives during the General Assembly, and 11 executive board members (or executive directors) were elected from board members.
Authority: The Board of Directors is the Association’s highest permanent executive body where members elect a chairman to act on behalf of the Association.
Responsibilities:

1. To convene the General Assembly and execute its decisions.
2. To elect or recall the chairman or executive directors.
3. To approve the resignation of the chairman or board members.
4. To approve registration, withdrawal, or nullification of membership or member representative.
5. To make annual working plans, budgets, auditing reports, and R&D projects.
6. To approve appointment or dismissing the Association’s administrative staff workers, advisors, or research staff workers.
7. To approve the Association’s new regulations or revisions to the CNFA Charter or regulations.
8. To deal with the projects approved at meetings of supervisors.
9. To hold a meeting to discuss the proposals originally tendered for discussion at the General Assembly which fails to be held for certain reasons. Decisions made during the meeting will be reported to next General Assembly for its approval.
10. To take disciplinary actions against the members who fail to pay membership fees.
11. To handle issues in accordance with laws, CNFA Charter, or related regulations.
12. To handle other related issues.

Board of Supervisors Supervisor Convener

Supervisors: The 11 supervisors were elected by member representatives during the General Assembly, and they accordingly elected 3 executive supervisors among whom one was selected as convener.
Authority: It’s the highest supervising body of the Association.
Responsibilities:

1. To elect or recall executive supervisors.
2. To supervise the Board of Directors’ execution of the projects approved by the General Assembly.
3. To supervise the Board of Directors’ execution of the Association’s working plans.
4. To review the accounting reports which have been approved by the Board of Directors.
5. To review the financial reports which have been approved by the Board of Directors.
6. To make an annual supervisory report to the General Assembly.
7. To approve resignation tendered by any executive supervisor or supervisor.
8. To handle other related issues.

Futures Brokerage Committee

1. To improve and promote futures brokerage business as well as handle interaction and coordination among futures brokers.
2. To offer services to futures traders.
3. To make an annual work plan for the committee.
4. To handle other related issues.

Futures Proprietary Committee

1. To improve and promote the business of proprietary futures commission merchants as well as handle interaction and coordination among them.
2. To make an annual work plan for the committee.
3. To handle other related issues.

Futures Advisory Committee

1. To improve and promote futures advisory business as well as handle interaction and coordination among the member companies engaged on this business.
2. To offer services to clients of futures advisory enterprises.
3. To make an annual work plan for the committee.
4. To handle other related issues.

Managed Futures Committee

1. To improve and promote managed futures business as well as handle interaction and coordination among the member companies engaged on this business.
2. To offer services to clients of managed futures enterprises.
3. To make an annual work plan for the committee.
4. To handle other related issues.

Futures Trust Committee

1. To improve and promote futures trust business as well as handle interaction and coordination among futures trust enterprises.
2. To offer services to beneficiaries of the futures trust fund.
3. To make an annual work plan for the committee.
4. To handle other related issues.

Leverage Transaction Committee

1. To improve and promote leveraged-trading business as well as handle interaction and coordination among futures companies and traders.
2. To offer services to futures traders.
3. To make an annual work plan for the committee.
4. To handle other related issues.

Financial Committee

1. To handle issues regarding membership fees, business service fees, fund-raising, and other related financial issues.
2. To handle auditing and related issues.
3. To make the budget plan and deal with settlement issues.
4. To handle other related issues.

Discipline Committee

1. To draft self-discipline rules as well as execute the rules and supervise self-discipline practices of member companies.
2. To help member companies comply with working ethics.
3. To handle other related issues.

Auditing Committee

1. To make research on the internal control system of futures companies and propose suggestions for improvement.
2. To make research on the internal auditing system of futures companies and propose suggestions for improvement.
3. To coordinate for consistency in internal control and auditing systems of futures companies and help them to resolve related problems.
4. To make annual work plan for the committee.
5. To handle other related issues.

International Affair Committee

1. To promote and coordinate issues about international affairs of the futures industry.
2. To make annual work plan for the committee.
3. To arrange other related issues.

Cross-straits Affair Committee

1. To promote and coordinate cross-straits issues about the futures industry.
2. To make annual work plan for the committee.
3. To arrange other related issues.

Education & Training Committee

1. To arrange pre-job and on-job training for the futures workers.
2. To arrange visits, speeches, lectures, leisure activities, and sports, among others.
3. To handle publishing and editing matters.
4. To make advertising and promotional matters.
5. To handle training, examination, license issuance, and other education-related issues.

AML & Law Compliance Committee

1. To make research on law compliance-related issues and propose recommendations for improvement.
2. To make research on AML/CTF-related issues and propose recommendations for improvement.
3. To coordinate law-compliance issues and make solutions as standard guidelines for futures companies.
4. To coordinate AML/CTF-related issues and make solutions as standard guidelines for futures companies.
5. To make an annual work plan for the committee.
6. To handle other related issues.

Business Development Section I

To handle the business of futures companies, futures (securities) introducing brokers, and cross straits issues:

1. To arrange meetings of the Futures Brokerage Committee, Futures Proprietary Committee, Cross-straits Affair Committee, and Discipline Committee.
2. To handle interactions among regulatory the agency/angencies, peripheral institutions, and member companies.
3. To gather information about market trends and industrial development.
4. To review futures-related laws and, when necessary, propose suggestions for improvement.
5. To provide legal consulting services to member companies.
6. To propose or make revisions to self-discipline rules.
7. To make research on the feasibility of developing new futures-related businesses in Taiwan and analyze its market potential.
8. To make research on futures-related topics.
9. To arrange out-sourcing research projects.
10. To gather and analyze the information about cross-strait issues.
11. To arrange interactions among the futures associations on the two sides of the Taiwan Straits.
12. To review the advertisement and promotional materials of member companies.
13. To inspect the financial condition of member companies and, when necessary, provide assistance to help them make improvements.
14. To review and forward the documents of member companies to the regulatory agency and keep records of them.
15. To execute the self-discipline rules for member companies and, in accordance with the regulatory agency’s instruction, inspect the auditing practice of member companies.
16. To inspect on the business locations and facilities of member companies.

Business Development Section II

To handle issues regarding futures-related business (excluding those of futures introducing brokers), leveraged trading, and international affairs:

1. To arrange meetings of Futures Advisory Committee, Managed Futures Committee, Futures Trust Committee, and International Affair Committee.
2. To handle interactions among regulatory agencies, peripheral institutions, and member companies.
3. To gather information about market trends and industrial development.
4. To review futures-related laws and, when necessary, propose suggestions for improvement.
5. To provide legal consulting services to member companies.
6. To propose or make revisions to self-discipline rules.
7. To make research on the feasibility of developing new futures-related businesses in Taiwan and analyze its market potential.
8. To make research on futures-related topics.
9. To arrange out-sourcing research projects.
10. To gather and analyze the information about the international futures issues.
11. To arrange the interaction between the Association and international futures associations.
12. To review the advertisement and promotional materials of member companies.
13. To inspect the financial condition of member companies and, when necessary, provide assistance to help them make improvements.
14. To review and forward the documents of member companies to the regulatory agency and keep records of them.
15. To execute the self-discipline rules for member companies and, in accordance with the regulatory agency’s instruction, inspect the auditing practice of member companies.
16. To inspect on the business locations and facilities of member companies.

Education & Training Section

1. To arrange pre-job and on-the-job training courses for futures workers.
2. To arrange futures lecturers, seminars, and other promotional activities.
3. To publish the reports of research projects, public hearings, or seminars.
4. To arrange activities for advocating special news or research topics.
5. To compile and publish publications.
6. To handle the registration of new member companies, member representatives, and business representatives of member companies.
7. To arrange renewal of job certificates of the Association’s staff workers.
8. To arrange meetings of the Education & Training Committee.

Administrative Management Section

1. To handle procurement issues and safeguard the Association’s properties.
2. To arrange IT equipment procurement, maintenance, and management.
3. To make budget, settlement, financial analysis, income & payment, accounting, financial document review, as well as handle fund-raising, cashier’s work, and other related issues.
4. To handle mail and keep documents.
5. To provide financial support to Association-held activities.
6. To handle the issues about personnel, general issues, administrative management, and keep records of documents.
7. To arrange social activities for employees of member companies and the Association’s working staff.
8. To arrange the General Assembly as well as meetings of the board of directors and supervisors.
9. To arrange meetings of the Financial Committee.
10. To mediate disputes about futures trading.

E-Commerce Business Committee

1. To handle promotion, communication, coordination, and improvement issues about digitalization.
2. To handle digitalization-related law research and proposed issues.
3. To handle issues about digitalized services for traders.
4. To handle futures-related information security issues.
5. To compile an annual work plan for this committee.
6. To handle other digitalization and information security issues.

Sustainable Development Committee

1. To coordinate and propose suggestions about sustainable development of futures industry.
2. To make promotional plans, holding seminars/conferences, and invite experts to share their professional experience.
3. To propose the self-discipline rules, exemplar cases, guidelines, topics for discussions, and suggestions about sustainable development issues.
4. To make annual work plans for the committee.
5. To handle other relevant issues.

Procurement Committee

1. To handle procurement of the Association’s major equipment and consumables.
2. To make annual work plans for the committee.
3. To handle other procurement-related issues.