Daily reconciliations are made for all bullion stored and traded in our secure bonded vaults. These daily reconciliation reports are complemented with Quarterly Factual Finding reports by an Independent Certified Auditor.
Bullion is individually allocated and segregated to the owner, and every transaction is accounted for.
F.A.C.T. reports are provided by recognized Independent Auditor or Chartered Accountants only.
All bullion traded in the Exchange is accorded to the rightful owners.
From the moment the bullion arrives or leaves our vaults, every piece of it is accounted for by the Singapore Customs Authority. In the F.A.C.T. reporting process, the Independent Auditors will ensure that the amount of bullion under storage is correct and no fraudulent activity takes place within the trading platform. This involves checking that the following requirements are fulfilled:
Custodians and Bonded Storekeepers records all bullion products that are in storage. The records include:
Each trade is traced. Every trade will trigger 3 individual records:
Any major variation between each of the records will lead to further investigation.
Customers can also request for their own personalized F.A.C.T. Report to be conducted by an Auditor of their own choice.
Copyright© 2021 Singapore Precious Metals Exchange Pte Ltd (Company No. 201020848N),
Le Freeport 32 Changi North Crescent, Singapore 499643.