To become a member of the stock exchange, you must have certain conditions. A securities company shall comply with the provisions of the stock exchange in terms of business scope, securities working capital, qualification, ability to take risks, organizational structure and personnel quality. Generally speaking, membership should include the following conditions:
(1) A securities company with legal person status established according to law with the approval of China Securities Regulatory Commission;
(2) It has a good reputation, business performance and a certain scale of funds or working capital;
(3) Conforming to the provisions of the China Securities Regulatory Commission and the stock exchange in terms of organizational form, business personnel and technical risk prevention;
(four) to recognize the articles of association and business rules of the stock exchange, and to pay membership fees, seat fees and other fees in accordance with the provisions;
(5) Other conditions required by the stock exchange.
Securities companies that meet the above conditions apply to the stock exchange and provide the necessary documents. With the approval of the board of directors of the stock exchange, you can become a member of the stock exchange.
Second, the application procedure
To become a member of a stock exchange, a securities institution shall apply in accordance with the following provisions:
(1) Apply to the stock exchange and submit the corresponding application materials to the member management department. The application materials generally include the application form for membership, the official documents for applying to become a member of the stock exchange, the approval documents for the establishment of institutions approved by the China Securities Regulatory Commission, the company's securities business license issued by the China Securities Regulatory Commission, the company's corporate business license, the company's articles of association, internal control system and major rules and regulations, the audited financial reports for the last two years, and the securities business licenses and business licenses of the securities business departments under the company.
(2) The member management department of the stock exchange conducts a preliminary examination of the above materials:
(3) After passing the preliminary examination, the member management department of the stock exchange will report those who pass the examination to the board of directors and become members of the stock exchange after being reviewed and approved by the board of directors.
Third, the punishment of members.
For members who violate the articles of association, business rules and other relevant provisions of the Exchange, the trading ownership will be given a certain single or combined punishment according to the seriousness of the case, mainly including: informed criticism within the membership, public criticism, warning, fine, trading restriction, suspension of self-operated business or agency business, cancellation of membership, etc. The above-mentioned main points of suspending members' participation in on-site trading shall be reviewed and approved by the board of directors of the stock exchange, and major penalties such as canceling membership shall be reviewed and approved by the shareholders' meeting of the stock exchange.
In addition, according to China's "Measures for the Administration of Stock Exchanges", a stock exchange shall report to the China Securities Regulatory Commission for the record within five working days after the decision, and other members other than full members shall report to the China Securities Regulatory Commission for the record five working days before going through the relevant formalities.