Confirming adherence to FMSB Standards through Statements of Commitment
Full, Associate, and Corporate Members commit to conduct their FICC market activities in a manner consistent with the Core Principles contained in FMSB Standards, and to have internal policies, procedures and controls reasonably designed to give effect to those Core Principles where they are applicable. Members evidence this through an annual Statement of Commitment which they are required to submit to FMSB by 31 December of the following year.
The Statement of Commitment applies to all Standards published by FMSB in final form prior to 31 December of the previous year and reaffirms any previous Statements of Commitment made by the FMSB member where appropriate.
FMSB Members are provided with language for their Statement of Commitment and return this with details of where they publicise it.
Statement of Commitment
1 January 2021 to 31 December 2021 Language for Statement of Commitment 2021
1 January 2021 to 31 December 2021 FMSB: 2021 Adherence Status
1 January 2020 to 31 December 2020 FMSB: 2020 Adherence Status
New Members are given additional time to submit their first Statement of Commitment.
For the 2021 Adherence year which ended 31 December 2021, Members have the option to adhere to two additional Standards issued in 2022, which would normally form part of the 2022 Adherence year. These Standards are the Standard for the sharing of investor allocation information and the Standard for the Conduct of Participants in LBMA Precious Metal Auctions.