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  • Subsidiaries’ Boards

    • HC-4.1.2

      Boards and senior management of subsidiaries of Bahraini investment firm licensees must remain responsible for developing effective governance and risk management framework for their entities and must clearly understand the reporting obligations they have to the parent licensee.

      Added: July 2023

    • HC-4.1.4

      Material risk-bearing subsidiaries and overseas branches must be captured by the licensee-wide risk management system and must be part of the overall risk governance framework.

      Added: July 2023

      • HC-4.1.3

        The strategy, business plan, policies, risk governance framework, corporate values and corporate governance framework of each subsidiary must align with group strategy and policies, and the subsidiary Board must make necessary adjustments where a group policy conflicts with an applicable legal or regulatory provision or prudential rule or would be detrimental to the sound and prudent management of the subsidiary.

        Added: July 2023