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Compliance
ABX provides guidance and support for all Members and employees of the Exchange in complying with the ABXOTC Rulebook and bullion industry specific legislative requirements.
ABXOTC provides guidance and support for all Members and employees of the Market in complying with:
- The ABXOTC Rulebook; and
- The ABXOTC Code of Conduct.
This support is within ABXOTC’s service offering to provide assurance to all Market participants that Members are complying with the above. If ABXOTC 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 ABXOTC Membership or employment.
ABXOTC provides the following compliance support services:
- Provision of Rulebook;
- Provision of Guides and Procedures for operation on the Market;
- Notification of bullion industry specific legislative requirements;
- Provision of legislative procedures;
- Provision of template contractual forms; and
- Holding annual Member professional development seminars and training.
The ABXOTC Rulebook details the rules of the Market, and builds the Quality Assurance Framework - with which all Members and ABXOTC employees must comply. Due to the value ABXOTC places in its Quality Assurance Framework, non-compliance with the ABXOTC Rulebook is treated seriously.
Disciplinary action for non-compliance with the ABXOTC 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.
