Back Custom print Link Text Only Rich Text Print

  • Chapter BR-A Chapter BR-A Introduction

    • BR-A.1 BR-A.1 Purpose

      • Executive Summary

        • BR-A.1.1

          This Module sets out requirements applicable to investment firm licensees regarding reporting to the Central Bank of Bahrain ('CBB'). These include the provision of financial information to the CBB by way of quarterly prudential returns, as well as notification to the CBB of certain specified events, some of which require prior CBB approval. This Module also outlines the methods used by the CBB in gathering information required in the supervision of investment firm licensees.

          Amended: January 2011
          Adopted: July 2007

        • BR-A.1.2

          The requirements in this Module apply to all categories of investment firm licensees.

          Adopted: July 2007

      • Legal Basis

        • BR-A.1.3

          This Module contains the CBB's Directive (as amended from time to time) regarding CBB Reporting requirements applicable to 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').

          Amended: January 2011
          Adopted: July 2007

        • BR-A.1.4

          For an explanation of the CBB's rule-making powers and different regulatory instruments, see section UG-1.1.

          Adopted: July 2007

    • BR-A.2 BR-A.2 Module History

      • Evolution of Module

        • BR-A.2.1

          This Module was first issued in July 2007, as part of the second phase release of Volume 4's contents. It is dated July 2007. All subsequent changes to this Module are annotated with the end-calendar quarter date in which the change was made: UG-3 provides further details on Rulebook maintenance and version control.

          Adopted: July 2007

        • BR-A.2.2

          A list of recent changes made to this Module is provided below:

          Module Ref. Change Date Description of Changes
          BR-1.1 10/2009 Updated to include CBB's new requirements for preparation and submission of Quarterly Prudential Report and Auditors Report.
          BR-1.2 10/2009 Corrected Heading to read Annual Group Return.
          BR-1.3 10/2009 Amended to include CBB's requirements for prudential and reporting dates of a branch.
          BR-1.4 10/2009 New Section added to include CBB's reporting requirements in accordance with other Modules of Volume 4.
          BR-2.2 10/2009 Updated to include CBB's notification requirements in accordance with other Modules of Volume 4.
          BR-2.3 10/2009 Updated to include CBB's approval requirements in accordance with other Modules of Volume 4
          BR-1.4.6 07/2010 New Rule added to clarify requirements for listed companies.
          BR-2.2.1 and BR-3.4.3 07/2010 Paragraphs amended.
          BR-2.3.13 07/2010 Amended cross reference.
          BR-2.3.29 07/2010 Added cross reference.
          BR-A.1.3 01/2011 Clarified legal basis.
          BR-1.4.6 01/2011 Amendment made to recognise “licensed exchange”.
          BR-1.4.12 and BR-1.4.13 01/2011 Added IIS reporting requirements.
          BR-2.2.9 01/2011 Administrator not to be shown as a defined term in this Paragraph.
          BR-2.2.22 01/2011 Amended reference to “direct” supervisory contact.
          BR-2.3.5 01/2011 Removed reference to additional premises.
          BR-2.3.8 01/2011 Clarified Rule dealing with change in authorised or issued capital.
          BR-2.3.12 01/2011 Rule amended as it does not apply to overseas investment firms.
          BR-2.3.18 01/2011 Rule amended to remove reference to “directors”.
          BR-1.4.13 04/2011 Corrected cross reference.
          BR-2.3.15, BR-2.3.16 and BR-2.3.17 04/2011 Paragraphs amended to incorporate new requirements under Chapter GR-10.
          BR-1.4.9A 10/2011 Added requirement for submission of complaint handling procedures report.
          BR-3.5 10/2011 Transferred material from EN-2 and AA-5 dealing with appointed experts.
          BR-1.1.8 01/2012 Clarified application of Rule to Category 1 and Category 2 investment firm licensees.
          BR-2.3.33 01/2012 Added notification to be provided to the Financial Institutions Supervision Directorate.
          BR-1.4.10 07/2012 Deleted Paragraph to be in line with changes made to Module FC.
          BR-2.3.27A 07/2012 Added a Paragraph to reflect CBB prior approval requirements under Paragraph CA-1.1.5A.
          BR-3.1.1A and BR-3.1.1B 07/2012 Added Paragraphs to clarify Rules on power to request information.
          BR-3.3.1 and BR-3.4 07/2012 Minor corrections.
          BR-2.3.32 10/2012 Reference updated to reflect the issuance of Volume 7 (CIU).
          BR-1.4.12 01/2013 Clarified deadline to update IIS.
          BR-2.3.27B 01/2013 Added a Rule requiring CBB prior written approval where an investment firm licensee proposes to settle a subordinated loan made by its shareholders, either fully or partially.
          BR-2.3.19(a) 04/2013 Correction made to proper cross reference.
          BR-1.4.11 10/2013 Aligned defined term with Glossary.
          BR-2.2.5, BR-2.2.26, BR-2.3.6 and BR-3.2.2 10/2013 Removed reference to appointed representatives.
          BR-2.3.33 10/2014 Added cross reference to Module OFS in Volume 6 of the CBB Rulebook.
          BR-1.1.6 07/2015 Clarified that the QPR is to be filed on a consolidated basis.
          BR-1.4.1 and BR-2.3.11 10/2015 Added cross reference to reflect update to Chapter GR-5.
          BR-2.2.23, BR-2.2.23A and BR-2.3.10 10/2015 Amended to be in line with updated Chapter GR-5.
          BR-2.2.16 and BR-2.2.22 01/2016 Corrected cross references.
          BR-2.2.6 04/2016 Clarified to whom notification requirements must be sent in the cases of fraud.
          BR-1.1.8 10/2016 Added reference to AA-3.1.1
          BR-1.4.6A 10/2016 Added a new Rule on submitting to the CBB the Audited financial statements of subsidiaries
          BR-2.2.23 01/2017 Amended to be consistent with GR-5.1.5.
          BR-1A.4 04/2017 Added a new Section on Onsite Inspection Reporting.
          BR-2.2.17 04/2017 Corrected reference
          BR-1.4.11 10/2017 Amended Paragraph to clarify that licensees are to formally declare in writing that they do not possess any Client assets.
          BR-1.4.11 04/2018 Amended Paragraph.
          BR-1B.4 10/2018 Added a new Section on Report on Private Placements.
          BR-1.4.5A 10/2019 Added a new Paragraph on disclosure of financial penalties.
          BR-1B.4.1 01/2020 Amended Paragraph to add requirements applicable to Cat. 1 and 2.
          BR-1B.4.2 01/2020 Amended Paragraph on reports purpose.
          BR-1B.4.6 01/2020 Added a new Paragraph on reporting requirements.
          BR-2.3.12 01/2020 Amended Paragraph.
          BR-2.3.15 01/2020 Amended Paragraph.
          BR-1.1.4 01/2022 Amended Paragraph on submission of Forms.
          BR-1.1.12 01/2022 Deleted Paragraph.
          BR-1.2 01/2022 Deleted Section.
          BR-1.4.3 01/2022 Amended Paragraph.
          BR-1.4.4 01/2022 Delete Paragraph.
          BR-1.4.7 01/2022 Amended Paragraph.
          BR-1.4.8 01/2022 Amended Paragraph.
          BR-1.4.9 01/2022 Amended Paragraph on submission of the PIIR.
          BR-1.4.9A 01/2022 Amended Paragraph on submission of a complaint handling procedures report.
          BR-1A.4.2 01/2022 Amended Paragraph on the submission of the written assessment of the observations/issues raised in the Inspection draft report.
          BR-1B.4.1 01/2022 Amended Paragraph.
          BR-2.2.22 01/2023 Amended Paragraph removing reference to RM.
          BR-2.3.19 01/2023 Deleted Paragraph on CBB approval for outsourcing of functions..
          BR-1.4.14 07/2023 Added a new Paragraph on Prudential Meetings Requirements.
          BR-2.2.27 07/2023 Added a new Paragraph on notifying the CBB of any changes to the business strategy.

      • Superseded Requirements

        • BR-A.2.3

          This Module supersedes the following provisions contained in circulars or other regulatory instruments:

          Circular/ other reference Provision Subject
          Circular No. BC/9/99 dated 6 June 1999 All provisions Quarterly Information Report (QIR).
          Circular No. BC/12/2000 dated 10 October 2000 All provisions Quarterly Information Report (QIR).
          Adopted: July 2007

        • BR-A.2.4

          Further guidance on the implementation and transition to Volume 4 (Investment Business) is given in Module ES (Executive Summary).

          Adopted: July 2007