Vault manager conduct requires diligent bullion custody, risk controls, auditability, confidentiality and operational independence throughout vaulting operations.

Vault Managers must organise and control their affairs responsibly and effectively, maintain adequate risk-management systems and financial resources, and uphold proper market conduct, integrity, fairness and professionalism. They must exercise due diligence in the safe-keeping of assets, maintain an audit trail for bullion movements, preserve electronic records through complete backups, protect confidential information, and maintain operational independence from other businesses. Liability arises for bullion loss or damage resulting from failure to exercise the care and diligence expected of a careful and vigilant owner.

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