Compliance
ABX provides guidance and support for all Members and employees of the Exchange in complying with the ABX Rulebook and bullion industry specific legislative requirements.
Notwithstanding this support, it is beyond the scope of ABX’s service offering to provide assurance that Members are complying with the above. If ABX suspects a Member or employee of non-compliance, the case will be investigated and appropriate action will be taken, which may include suspension or termination of ABX Membership.
ABX provides the following compliance support services:
- Provision of Rulebook
- Provision of Guides and Procedures for operation on the Exchange
- Notification of bullion industry specific legislative requirements
- Provision of legislative procedures
- Provision of template contractual forms
- Holding annual Member professional development seminars and training.
The ABX Rulebook details the rules of the Exchange, and builds the Quality Assurance Framework - for which all Members and ABX employees must comply with. Due to the value ABX holds in its Quality Assurance Framework, non-compliance with the ABX Rulebook is treated seriously.
Disciplinary action for non-compliance with the ABX Rulebook will be determined by the Corporate Governance, Compliance & Enforcement Committee. Recommendations will be passed to the Board of Directors.
Disciplinary action for non-compliance with bullion industry specific legislative requirements will be contemplated by the Corporate Governance, Compliance & Enforcement Committee. If deemed necessary, certain conduct may be reported to relevant authorities. The Corporate Governance, Compliance & Enforcement Committee will also make disciplinary recommendations to the Board of Directors.
