EN-9.1 EN-9.1 BMA Policy
EN-9.1.1
Rule AU-1.3.1 of Module AU (Authorisation) requires persons wishing to carry on the business of an administrator in the Kingdom of Bahrain to be registered as such by BMA.
Registered administrators are not allowed to undertakeregulated investment services and are not categorised as licensees: the registration requirement exists simply to ensure that those acting as administrators satisfy certain basic suitability criteria.EN-9.1.2
These basic criteria are contained in Chapter AU-4. Should a registered administrator, in the opinion of the BMA, cease to satisfy one or more of these criteria, then the BMA has the right to cancel that person's registration.
EN-9.1.3
Where the BMA proposes to cancel the registration of a
registered person , it must provide the person concerned reasonable time to object to the proposed cancellation.EN-9.1.4
Amongst other matters affecting a person's compliance with the registration criteria contained in Chapter AU-4, the BMA will normally consider as grounds for the revocation of registration the following:
(a) the conviction by a court, whether in Bahrain or elsewhere, for a crime affecting honesty;(b) a bankruptcy declaration by a court of law;(c) a court ruling that the person's legal capacity is totally or partially impaired; or(d) the sanction by a professional body of a fine, suspension, expulsion or censure.
