LBMA Media Centre

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The Global Precious Metals Code Consultation

Monday, December 19, 2016

Launch of the Global Precious Metals Code Consultation.

The LBMA is pleased to announce the launch today of an online survey inviting comments and feedback from market participants on the new draft global Precious Metals Code which will be implemented in May 2017. The deadline for feedback is 28 February, 2017 and the LBMA would like to encourage as many market participants as possible to review the Code and provide their feedback.

The new Code will apply to all precious metals market participants, and will provide guidance on best practice. The Code will replace the Bullion Market annex currently within the Non-Investment Products (NIPs) Code. In addition to market conventions the Code will cover principles that should be adopted by members including ethics, compliance, governance and risk management, as well as pre trade, execution and post trade business conduct. Illustrative examples of acceptable practices will be included.

Alternatively, if you would prefer to provide direct feedback then please email regulatory.affairs@lbma.org.uk.

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