BC-A.1 BC-A.1 Purpose
Executive Summary
BC-A.1.1
This Module contains requirements that have to be met by
investment firm licensees with regards to their dealings withclients .BC-A.1.2
The Rules contained in this Module aim to ensure that
investment firm licensees deal with theirclients in a fair and open manner, and address theirclients' information needs.Amended: January 2007BC-A.1.3
The Rules build upon several of the Principles of Business (see Module PB (Principles of Business)). Principle 1 (Integrity) requires
investment firm licensees to observe high standards of integrity and fair dealing, and to be honest and straightforward in their dealings withclients . Principle 3 (Due skill, care and diligence) requiresinvestment firm licensees to act with due skill, care and diligence when acting on behalf of theirclients . Principle 7 (Client Interests) requiresinvestment firm licensees to pay due regard to the legitimate interests and information needs of theirclients , and to communicate with them in a fair and transparent manner.Amended: January 2007BC-A.1.4
The Rules contained in this Module are largely principles-based and focus on desired outputs rather than on prescribing detailed processes. This gives
investment firm licensees flexibility in how to implement the basic standards prescribed in this Module.Amended: January 2007Legal Basis
BC-A.1.5
This Module contains the Central Bank of Bahrain's ('CBB') Directive (as amended from time to time) on business conduct by
investment firm licensees , and is issued under the powers available to the CBB under Article 38 of the Central Bank of Bahrain and Financial Institutions Law 2006 (CBB Law). The directive in this Module is applicable to allinvestment firm licensees .Amended: January 2011
Adopted: January 2007BC-A.1.6
For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.
Adopted: January 2007
