TC-A.1 TC-A.1 Purpose
Executive Summary
TC-A.1.1
Module TC provides Rules and Guidance to
capital market licensees to ensure satisfactory levels of competence, in terms of an individual’s knowledge, skills, experience and professional qualifications.Capital market licensees are required to demonstrate thatapproved persons including individuals undertakingcontrolled functions are sufficiently competent, and are able to undertake their respective roles and responsibilities.Capital market licensees must maintain the competence to provide regulated services. Individuals occupying controlled functions as outlined in respective Modules of Volume 6, must, therefore, meet minimum levels of training and experience related to their functions.Added: January 2022TC-A.1.2
Capital market licensees andapproved persons should observe high standards of integrity and fair dealing, and be honest and straightforward in their dealings withclients .Capital market licensees should maintain adequate human, financial and other resources sufficient to run their business in an orderly manner.Added: January 2022TC-A.1.3
The CBB’s Licensing Conditions require a
capital market licensee’s staff, taken together, must collectively provide a sufficient range of skills and experience to manage the affairs of thecapital market licensee in a sound and prudent manner. This condition requires thatcapital market licensees must ensure their employees meet any training and competency requirements specified by the CBB. Theapproved persons requirements, specified in Module MAE, Module CSD, Module MIR and Module CRA, sets forth the ‘fit and proper’ requirements in relation to competence, experience and expertise required byapproved persons ; this Chapter specifies various factors that the CBB takes into account when reaching such decision regarding approval of such persons to act asapproved persons by CBB.Added: January 2022Legal Basis
TC-A.1.4
This Module contains the CBB’s Directive (as amended from time to time) relating to training and competency and is issued under the powers available to the CBB under Articles 38 and 65(b) of the Central Bank of Bahrain and Financial Institutions Law 2006 (‘CBB Law’). The Directive in this Module is applicable to all
capital market licensees .Added: January 2022TC-A.1.5
For an explanation of the CBB’s rule-making powers and different regulatory instruments, see Section UG-1.1.
Added: January 2022
