HC-B.2 Subsidiaries and overseas Branches of Bahraini Investment Firm Licensees
HC-B.2.1
Licensees must ensure that, as a minimum, the same or equivalent provisions of this Module apply to their subsidiaries and overseas branches. In instances where local jurisdictional requirements are more stringent than those applicable in this Module, the local requirements are to be applied.Added: July 2023HC-B.2.2
Where a
licensee is unable to satisfy the CBB that itssubsidiaries and overseas branches are subject to the same or equivalent arrangements, the CBB will assess the potential impact of risks to thelicensee arising from inadequate high-level controls. In such instances, the CBB may impose certain restrictions on thelicensee . Where weaknesses in controls are assessed by the CBB to pose a major threat to the financial soundness of thelicensee and/or the financial stability in the Kingdom, then its license may be called into question.Added: July 2023
