AGTA Updates Code of Ethics, Putting Emphasis on Due Diligence

18/02/2016 14:15

The American Gem Trade Association (AGTA) announced that it has amended its Code of Ethics and Principles of Fair Business Practice and presented recommended Source Disclosure language to the AGTA's strict Code of Ethics document. "For thirty five years, AGTA's Code of Ethics has served as a model for the entire industry", said AGTA CEO Douglas Hucker, and as a living document is was necessary and appropriate for us to amend them to strengthen our commitment to due diligence in the marketplace and to reflect our leadership role in the global efforts in supply chain integrity."
In his speech to the Gemstone Industry Laboratory Conference (GILC) at the Tucson Gem & Mineral Show earlier this month, then AGTA President Ruben Bindra said, "In the transparency of the supply chain issue, AGTA has taken the lead role again and today we proudly present the newest edition of our Code of Ethics and Best Business Practice. As good citizens of this industry, we have amended our Code of Ethics to reinforce due diligence." All members of the AGTA annually reaffirm their commitment to these principles by signing the Code of Ethics.
Prior to the GILC conference, the AGTA Board of Directors approve a request from the International Colored Gemstone Association (ICA) to adopt the AGTA Code of Ethics as a basis for their own Code. At the GILC meeting at the AGTA GemFair in Tucson, ICA President Benjamin Hackman announced that the ICA Board of Directors supported the new due diligence language as well as the Source Disclosure language and would be adopting it for use by ICA members as well.