Code of Conduct (WFDB)

The Diamond Bourse of Canada and our members abide by and support the philosophy and aim of the World Federation of Diamond Bourses (WFDB) Code of Conduct. This is a set of better business principles, to which members of WFDB bourses are committed. The WFDB has been debating the various ethical issues affecting the diamond and gemstone industry for many years, and for just as long has been formulating policies to ensure that members of the bourses operate within an ethical framework.

WORLD FEDERATION CODE OF CONDUCT (WFCOP)

1. As stated in Article 2 of the By-Laws of the World Federation of Diamond Bourses (WFDB), the object of the WFDB is to protect the interests of the affiliated bourses and their individual members, and to promote understanding and closer cooperation between people all over the world who earn their livelihood in the diamond trade. The application of proper and ethical business practices by all members of affiliated bourses is a necessary requirement to achieve this object.

2. So as to apply proper and ethical business practices, members of WFDB-affiliated bourses are expected to:

a. Exhibit professional knowledge and skills;
b. Treat colleagues with respect;
c. Describe diamonds and other gemstones and jewelry accurately and fairly;
d. Take all the necessary measures, required and voluntary, in order to avoid trading in conflict diamonds, including the implementation the commitments and undertakings of the diamond industry as part of the Kimberley Process;
e. Disclose all treatments of diamonds and other gemstones;
f. Disclose whether a diamond or any other gemstone is synthetic;
g. Observe fair labour practices;
h. Provide employees with a safe and healthy work environment;
i. Endorse and practice human rights and morality in society.

3. So as to apply of proper and ethical business practices, members of WFDB-affiliated bourses are expected to avoid:

a. The practice of offensive conduct and speech;
b. The performance of any unethical conduct against a colleague or a client;
c. The involvement, directly or indirectly, in any activity that is harmful to society;
d. Trading in conflict diamonds;
e. Subjecting rough diamonds to unnatural treatments, or knowingly trading rough      diamonds that have been subjected to unnatural treatments.

4. Members of WFDB-affiliated bourses are required to abide by all current and future resolutions and recommendations made at Congresses and Presidents Meetings relating to proper and ethical business practices. (A) Failure to do so will result in appropriate disciplinary action by the bourse in question.


(A) The current listing of resolutions and recommendations made at Congresses and Presidents Meetings relating to proper and ethical business practices is included in Appendix A. Updated listings of resolutions and recommendations made at Congresses and Presidents Meetings relating to proper and ethical business practices will be provided to WFDB-affiliated bourse members as they become available.

WORLD FEDERATION CODE OF CONDUCT (WFCOP): http://www.wfdb.com/downloads/WFCOP(Preamble).pdf

More info on http://www.wfdb.com/

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