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Profile of registrant

WORLD FEDERATION OF DIAMOND BOURSES

Identification number in the register: 83396931720-72
Registration date: 19/05/09 12:32:45

The information on this organisation was last modified on 06/05/14 17:52:14
The date of the last annual update was 06/05/14 17:52:14


Registrant : Organisation or self-employed individual

Name/company name: WORLD FEDERATION OF DIAMOND BOURSES
Acronym: WFDB
Legal status: Unincorporated Organisation
Website address: http://wfdb.com

Sections

Section: II - In-house lobbyists and trade/professional associations
and more precisely: Trade, business & professional associations

Person with legal responsibility

Surname, Name: Mr  Ernie Blom
Position: President

Permanent person in charge of EU relations

Surname, Name: Mr  Ernie Blom
Position: President

Contact details:

Contact details of organisation's head office: 62 Pelikaanstraat 
Antwerpen 2018
BELGIUM
Telephone number: (+32) 32349121
Fax number: (+) 
Other contact information: Mr. Rony Unterman
Acting Secretary-General
World Federation of Diamond Bourses
Pelikaanstraat 62
2018 Antwerpen
Tel.: 32 3 234 91 21
Fax : 32 3 226 40 73
Email : secretariat@wfdb.com

Goals / remit

Goals / remit of the organisation: The WFDB provides a legal framework and convenes to enact regulations for its 28 affiliated bourses and this is supported by an effective and respected system of self-regulation and disciplinary procedure, which has certainly stood the test of time, as it has been in operation for more than 60 years. The WFDB also provides a procedure for International Arbitration, which is made available to bourse members upon application by the members’ bourse.
There are 10,000 individuals directly dependant for their livelihood on the 15,000 members, belonging to our affiliated bourses, which are situated in 20 countries and spread over the 5 continents. More than 90% of lose diamonds that are traded, at one stage or another pass through the hands of a member of a bourse, which is affiliated to the WFDB.
The responsibility for administering the WFDB’s affairs rests with the Executive Committee, which comprises of four office-holders, president, vice-president, secretary-general and treasurer-general and six members, all of whom must be a member on the board of directors of one of the 28 affiliated bourses. Elections for the WFDB’s Executive Committee are held at the each World Diamond Congress, which takes place every 2 years.
The function of the WFDB is as diverse as the members who belong to it. Ethics, sound business practice and morality are paramount and these are vigorously protected by the WFDB’s Constitution, which consists of Bye-Laws and Inner Rules and Resolutions and Recommendations, amendments to the constitution are tabled at the bi-annual World Diamond Congress, as it is only Congress, which is empowered to amend the rules.
Furthermore, it is the aim of the WFDB to encourage the establishment of bourses with a view to eventual affiliation, at the 33rd World Diamond Congress held last May in Shanghai, Congress approved applications from 3 new bourses; it’s the first time in the WFDB’s history, where 3 bourses have applied and been accepted for affiliated membership.
Over the years the WFDB has been involved in a number of important major international and industry initiatives and I list below, but a few:
Financial Action Task Force (FATF)
The FATF an inter-governmental organisation founded in 1989 by the then G7 to address the issues of terrorist financing and money laundering. The WFDB was accepted as a member on the Consultative Forum at the Plenary meeting which took place in London in June 2008.

As a member of the international electronic group the WFDB provided valuable input leading to the publication of the RBA Guidance for Dealers in Precious Metals and Stones. The WFDB is mentioned by name in clause 129 of the Guidance, which was co-ordinated by a member of the Financial Crime & Intelligence Division of the Financial Services Authority (FSA) in London.

World Diamond Council (WDC)
The WDC is the body set up by the WFDB at the 29th World Diamond Congress held in Antwerp in 2000 and headed by WFDB Honorary Life-President. It works hand in hand with over 47 Governments, plus the Countries which are part of the European Union and the United Nations, to rid the industry of the scourge of diamonds originating from areas of conflict.
The WDC was instrumental in the effectiveness of the Kimberley Process and the Kimberley Process certification scheme.
Today the role of the WDC is just as important as it was back in 2000. The role of the Kimberley Process and the WDC was to set in motion a process, which would lead to the eradication of diamonds originating from areas of conflict, today their role is to see that the KP system works smoothly and that diamonds will not be used to fuel any future conflict.
At the height of the problem, diamonds originating from areas of conflict, represented between 3.6 and 3.7% of the total world production of rough diamonds, this figure was reported by De Beers in a report delivered in Washington, to a US government committee, set-up to investigate the ‘diamonds from areas
The organisation's fields of interests are:
  • global

Number of persons engaged in activities falling under the scope of the Transparency Register

Number of persons: 1
Complementary information:

Persons accredited for access to European Parliament premises

No accredited persons

Activities

Main EU initiatives covered the year before by activities falling under the scope of the Transparency Register:


The WFDB is a member of the FATF

Fields of interest for e-mail alerts on consultations and roadmaps;

Fields declared by the organisation:
  • Competition
  • External Relations
  • Trade

Networking

Information on (i) organisation's membership of any associations/federations/confederations or (ii) relationships to other bodies in formal or informal networks.




Member on the FATF Consultative Forum.
CEN, directly and indirectly through the International Diamond Council
World Diamond Council

Financial data

Financial year: 01/2012 - 12/2012
Estimated costs to the organisation directly related to representing interests to EU institutions in that year: < 50000  €
Amount and source of funding received from the EU institutions in financial year n-1 of registration
Procurement: 0 €
Grants: 0 €
Other (financial) information provided by the organisation:


Code of conduct

By its registration the organisation has signed the Transparency Register Code of Conduct.