Compliance Services for Precious Metals
In many sectors, increasing legislative regulations have been encountered in recent years.
Understanding these regulations, setting compliance programs, ensuring compliance within the company in organizational, legal, and information technology dimensions, and supporting them with training and timely reporting to public units may require a system and accumulated knowledge.
The compliance service we provide in terms of reducing the risk of facing various sanctions in case of non-compliance will support companies in in-house corporate compliance, following up the relevant legislation and training.
Our customers, to whom we provide Compliance Services in the precious metals (gold, silver, palladium, platinum) sector and in the field of foreign exchange buying and selling, by organizing the necessary training in order to comply with the Treasury, MASAK, and BIST (Borsa Istanbul) regulations, by developing policy documents, procedures and closely monitoring the process. In this process, we stand by our customers in their corporate steps by providing our contributions such as compliance with the legislation, development of the internal control system, risk management, internal audit, corporate management, process improvement, and improving the reporting and organizational infrastructure.
As regulated by MASAK in the foreign exchange legislation, in accordance with the regulations on “Laundering Proceeds of Crime, Financing of Terrorism and Financing of Weapons of Mass Destruction” as well as the legislation issued since 2008, all Group (A) Authorized Institutions and Precious Metals Intermediary Institutions are subject to a number of obligations since 2008. As of July 1, 2021, regulations bring a number of additional obligations. Those customers who are members of Borsa Istanbul (BIST) are also subject to the supply chain compliance program.
Establishing and developing a strong and sustainable effective internal control system in the compliance process, which may affect reputation risk and good relations with public units, we continue to provide consultancy to our customers (Some are BIST members) with our long-term needs-oriented solution recommendations of our expert team in the fields of internal audit, corporate risk management, tax, law, information technology, and process improvement.
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