The PMA Members are a group of industry leaders that adhere to integrity-focused business practices. The PMA’s responsibility and focus is to set and uphold the benchmark of accepted standards, practices, and procedures within the precious metals industry and to protect and promote the integrity of a valuable industry. Standards for retail Members include ethics, compliance, education, customer complaint resolution, and best business practices. Members in the retail space of the industry provide training and support to their staff to establish and maintain these standards in their daily business practices. Membership in the PMA sets those companies apart and provides a platform to encourage all industry participants to do the same, providing an essential standard for the industry.
This distinction provides an essential standard for the industry.
All PMA retail Members should follow the PMA’s 10 Expectations.
The 10 Primary Expectations for PMA retail Members
- Each retail Member should have a designated compliance officer.
- Each retail Member should undergo an annual compliance audit.
- Each retail Member should have a designated customer complaint response person.
- Each retail Member should contribute human resources to at least one PMA committee.
- No retail Member should misrepresent its mark up or spread.
- No retail Member should engage in mark up or spread gouging.
- Each retail Member should comply with state telemarketing registration mandates.
- Each retail Member should comply with state sales tax mandates.
- Retail Member’s staff should not degrade other members to customers or others.
- Each retail Member’s staff should undergo compliance training at least twice a year.