Sightholder List Delayed As Questions Loom Over a Few Applications

A number of questions have been raised regarding applications submitted by Diamond Trading Company (DTC) Sight applicants that passed the initial Sight selection process. As a result, the DTC is delaying the publication of the Sightholders list until April 29.

All companies that have been selected for the first time to be DTC Sightholders for the 2008-2011 Sight contract, as well as a representative sample of continuing Sightholders, are subject to a verification process by auditing firm Kroll.

During this check, “a few” companies were flagged by Kroll, according to a company source, first reported by IDEX Online in January. The DTC is now investigating these companies, checking for Best Practice Principles (BPP) violations.

“A number of queries came up,” the source said, adding that the company decided to not publish the official Sightholders list until the DTC is sure it has a final list. This alludes to the option that, following the additional inquiry, one or more of the applicants will not receive a Sight. The list was originally planned to be published in early April.

In addition to those cases, there are a few additional ongoing BPP-related investigations of Sightholders that began in the previous contract period.