LBMA’s Global Precious Metals Code 2022

London Bullion Market Association (LBMA) has issued Global Precious Metals Code, 2022, laying down the principles around adopting the highest standards of business conduct and professionalism by the market participants engaged in the global Over-The-Counter (OTC) wholesale trade of precious metals. This LBMA’s Global Precious Metals Code, 2022, sets out the best practices and recommendations around –

• Code of Ethics,
• Compliance, governance, and risk management framework,
• Best practices for communicating market and trade-related information and maintaining its confidentiality,
• Pre- and post-trade business conducts.

Singapore’s regulated dealers in the wholesale trade of precious metals (gold, silver, and palladium) must adhere to this Global Precious Metals Code to promote fairness and transparency within the global precious metals market.