Bifalgorithm post · Gold market analyst · Due Diligence Processes as Sponsor for GLD and GLDM

Controls

Controls (Gold market analyst · Due Diligence Processes as Sponsor for GLD and GLDM) — "As a result of this potential risk to the Trusts, we continue to review…

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  • Controls and processes for mitigating modern slavery risk in the Trusts’ gold custody
  • Potential risk to the Trusts
  • The controls and processes are continually reviewed and monitored
  • The Trusts work with their custodians, JP Morgan, HSBC and ICBC Standard
  • All gold allocated to the Trusts must be sourced from refiners on the LBMA Good Delivery List when the gold was produced
  • Any allocated gold that does not comply is replaced
  • This is considered an important control for tackling the risk of modern slavery
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Controls

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Gold market analyst

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"As a result of this potential risk to the Trusts, we continue to review and monitor our controls and processes with respect to custody of the Trusts’ gold, including working with the Trusts’ custodians, JP Morgan, HSBC and ICBC Standard, to ensure contractual compliance in that all gold allocated to the Trusts is sourced from refiners who are included on the LBMA Good Delivery List at the time that the gold was produced and to the extent any allocated gold is not compliant, it is replaced. We believe that this is an important control to tackling the risk of modern slavery."

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