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  • Executive Summary

    • FC-A.1.1

      This Module applies, to all investment firm licensees, a comprehensive framework of Rules and Guidance aimed at combating money laundering and terrorist financing. In so doing, it helps implement the FATF Recommendations on combating money laundering and the financing of terrorism & proliferation, issued by the Financial Action Task Force (FATF), that are relevant to investment firm licensees. It also helps implement IOSCO guidance in this area. (Further information on these can be found in Chapter FC-9.) The Module also contains measures relating to the combating of fraud in the investment business sector.

      Amended: October 2014

    • FC-A.1.2

      The Module requires investment firm licensees to have effective anti-money laundering ('AML') policies and procedures, in addition to measures for combating the financing of terrorism ('CFT'). The Module contains detailed requirements relating to customer due diligence, reporting and the role and duties of the Money Laundering Reporting Officer (MLRO). Furthermore, examples of suspicious activity are provided, to assist investment firm licensees monitor transactions and fulfil their reporting obligations under Bahrain law.

    • FC-A.1.3

      This Module also covers measures in place to combat fraud: these apply to Category 1 investment firms and Category 2 investment firms. Chapter FC-10 sets out basic requirements regarding measures to deter, detect and report instances of fraud and attempted fraud.

      Amended: July 2007