WGC sets up self-regulatory organisation for industry stakeholders

The World Gold Council on Tuesday established a self-regulatory organisation that will promote the industry's best practices.

The body, which would be the conscience keeper of the industry that will represent stakeholders across the gold value chain, will be independent and the membership would be voluntary, the WGC said in a statement.

WGC's Swarna Adarsh Abhiyan initiative (SAA) helps organisations across the gold value chain to assess current performance and strive towards best practices to build trust across the industry and drive demand for gold as a safe and rewarding retail investment.

The organisation will build on the work of the Swarna Adarsh Abhiyan initiative - devising a code of conduct for every industry vertical, providing certification for members who adopt these codes, engaging with stakeholders across the gold value chain and advocating for best practice, WGC Regional CEO, India, Somasundaram PR said.