Vault manager conduct mandates secure bullion custody, traceable movements, operational independence, records resilience, confidentiality, and liability for negligent loss.

Vault Managers must provide prompt vaulting services, maintain risk-management systems, financial resources, market-conduct standards, and due diligence in safeguarding bullion. They remain accountable for bullion movements between authorised vaults, must maintain audit trails, documented procedures, adequate infrastructure, confidentiality, and resilient electronic records. They must co-operate in inter-vault settlements and preserve arm's length arrangements from other businesses. Liability arises for loss or damage to bullion caused by failure to exercise the care and diligence of a careful and vigilant owner.

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