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  • AU-B AU-B Scope of Application

    • AU-B.1 AU-B.1 The Public

      • AU-B.1.1

        The Authorisation requirements in Chapter AU-1 are generally applicable to the public, in that they prevent a person (whether legal or natural) from undertaking certain specified activities if they do not hold the appropriate authorisation from CBB or marketing any financial services unless specifically allowed to do so by the CBB (see Rule AU-1.1.1). In addition, those applying for authorisation are also required to comply with the relevant requirements and procedures contained in this Module.

        Amended: January 2013
        Amended: July 2007

      • AU-B.1.2

        Three types of authorisation are prescribed:

        (i) Any person seeking to provide a regulated investment service within or from the Kingdom of Bahrain must hold the appropriate CBB license (see AU-1.1);
        (ii) Any person seeking to act as “controller” of the person who holds a CBB license; and
        (iii) Natural persons wishing to perform a controlled function in an investment firm licensee also require prior CBB approval, as an approved person (see AU-1.2).
        Amended: January 2022
        Amended: July 2007

      • AU-B.1.3

        [This Paragraph deleted 07/2010.]

        Deleted: July 2010

    • AU-B.2 AU-B.2 Licensees and Authorised Persons

      • AU-B.2.1

        Various requirements in Chapters AU-2 to AU-5 inclusive also apply to persons once they have been authorised by the CBB (whether as licensees or approved persons).

        Amended: July 2007

      • AU-B.2.2

        Chapter AU-2 applies to investment firm licensees (not just applicants), since licensing conditions have to be met on a continuous basis by licensees. Similarly, Chapter AU-3 applies to approved persons on a continuous basis; it also applies to investment firm licensees seeking an approved person authorisation. Chapter AU-5 contains requirements applicable to licensees, with respect to the starting up of their operations, as well as to licensees and approved persons, with respect to the amendment or cancellation of their authorised status. Finally, Section AU-6.2 imposes annual fees on licensees.

        Amended: July 2007