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  • Honesty, Integrity and Reputation

    • FP-1.3.3

      Licensees must consider the person to have not met the criteria under FP-1.3.1 (a) whenever he displays one or more of the following:

      (a) Has previously been convicted of any felony or crime related to honesty and/or integrity unless subsequently restored to good standing;
      (b) Was the subject of civil or criminal proceedings or enforcement action, in relation to the management of an entity, or commercial or professional activities, which were determined adversely to the person and which reflected adversely on the person’s diligence, judgment, honesty or integrity;
      (c) Has been an officer found liable for an offence committed by a body corporate where the offense was proven to have been committed with the consent, connivance, or neglect attributable to that officer;
      (d) Has been refused the right or had restrictions placed on the individual’s right to carry on any trade, business, or profession requiring a specific license, registration, or other authorisation by law in any jurisdiction;
      (e) Has been disqualified by a court, regulator, or other competent body from acting as a board director, manager or employee of a company in any jurisdiction; or
      (f) Has been reprimanded, or disqualified, or removed by a professional or regulatory body in relation to matters relating to the person’s honesty, integrity or business conduct.
      Added: March 2025

    • FP-1.3.4

      In assessing if the criteria under FP-1.3.1(a) have been satisfied, the licensee shall also consider previous professional and personal conduct (in the Kingdom of Bahrain or elsewhere) including, but not limited to, the following:

      (a) The propriety of a person’s conduct, whether or not such conduct resulted in a criminal offence being committed, the contravention of a law or regulation, or the institution of legal or disciplinary proceedings;
      (b) A conviction or finding of guilt in respect of any offence, other than a minor traffic offence, by any court or competent jurisdiction;
      (c) Any adverse finding in a civil action by any court or competent jurisdiction, relating to misfeasance or other misconduct in connection with the formation or management of a corporation or partnership;
      (d) Whether the person, or any body corporate, partnership or unincorporated institution to which the applicant has, or has been associated with as a board director, controller, manager or company secretary been the subject of any disciplinary proceeding, investigation or fines by any government authority, regulatory agency or professional body or association;
      (e) Whether the person is in breach of any financial services legislation;
      (f) Whether the person has ever been refused a license, authorisation, registration or other authority;
      (g) Is or has been subject to disciplinary proceedings by his current or former employer(s), whether in Bahrain or elsewhere;
      (h) Dismissal or a request to resign from any office or employment;
      (i) Whether the person has been a board member, partner or manager of a corporation or partnership which has gone into liquidation or administration or where one or more partners have been declared bankrupt whilst the person was connected with that partnership;
      (j) Whether he has been censured, disciplined, suspended or refused membership or registration by regulators, an operator of a market, trade repository or clearing facility, any professional body or government agency, whether in Bahrain or elsewhere;
      (k) A finding of guilt in respect of a complaint relating to activities that are regulated by the CBB or under any law in any jurisdiction;
      (l) Whether he has accepted civil liability for fraud or misrepresentation under any law in any jurisdiction; or
      (m) Whether there is evidence that the individual has not been transparent, open, and cooperative in his or her dealings with supervisory or regulatory authorities.
      Added: March 2025