Bullion market governance requires independent controls, conflict disclosures, customer protection, resilient operations, and fit-and-proper director appointments.

Bullion exchanges and bullion clearing corporations must maintain regulatory compliance, due diligence, risk management, good governance, customer protection, fair treatment and prompt reporting of violations. Governing boards must oversee critical operations, independent regulatory and control functions, risk-appetite frameworks, three lines of defence, product reviews and conduct culture. Directors, committee members and key management personnel must act with integrity, preserve confidentiality, disclose beneficial interests, avoid conflicts and misuse of position, and support regulatory compliance. Director appointments require prescribed disclosures, fit-and-proper confirmation, approval processes, training and familiarisation.

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