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  • BR-1.1 BR-1.1 Quarterly Prudential Reporting

    • BR-1.1.1

      All investment firm licensees must prepare and submit to the CBB a Quarterly Prudential Return ('Form QPR').

      Adopted: July 2007

    • BR-1.1.2

      A copy of Form QPR is contained in Part B of Volume 4 of the CBB Rulebook. As per the reporting instructions for the Form, Category 1 investment firms and Category 2 investment firms are required to complete all sections of the Form. Category 3 investment firms are required to complete only a subset of the sections of the Form, reflecting their more limited range of activities.

      Adopted: July 2007

    • BR-1.1.4

      For each submission an electronic 'soft copy' must be submitted to the CBB.

      Amended: January 2022
      Adopted: July 2007

    • Scope of the Quarterly Prudential Return

      • BR-1.1.5

        The Quarterly Prudential Return must be submitted using the prescribed Form QPR, as contained in Part B of Volume 4 (Investment Business), together with the required auditor's report only for the quarter ending 30 June (or semi-annually, depending on the licensee's financial year-end).

        Amended: October 2009
        Adopted: July 2007

      • BR-1.1.6

        The Quarterly Prudential Return must be completed by every investment firm licensee as follows:

        (a) In the case of an investment firm licensee incorporated in Bahrain, the Quarterly Prudential Return must be completed on a consolidated basis, i.e. showing the assets and liabilities of the licensee concerned (including any of its branches, subsidiaries or associates); and
        (b) In the case of an overseas investment firm licensee, the Quarterly Prudential Return must be completed in respect of the investment business booked by the overseas investment firm licensee in the Bahrain branch only.
        Amended: July 2015
        Adopted: July 2007

    • Valuation of Assets and Liabilities

      • BR-1.1.7

        Amounts included within the Quarterly Prudential Return must be determined in accordance with the recognition and measurement principles specified by International Financial Reporting Standards.

        Adopted: July 2007

    • Auditor's Report

      • BR-1.1.8

        In accordance with Paragraph AA-3.1.1, for Category 1 and Category 2 investment firm licensees, the Quarterly Prudential Returns for the quarter ending 30 June (or semi-annually, depending on the licensee's financial year-end) must be reviewed by the firm's external auditor, unless otherwise exempted in writing by CBB.

        Amended: October 2016
        Amended: January 2012
        Amended: January 2011
        Amended: October 2009
        Adopted: July 2007

      • BR-1.1.9

        The requirement in Rule BR-1.1.8 aims to ensure accuracy and consistency of the financial data presented in Form QPR. Where auditor reviews reveal no material errors in four successive reviews, an exemption from this requirement may be requested. The CBB will normally grant such an exemption, unless it has other supervisory concerns regarding the licensee. However, material reporting errors identified in subsequent Forms QPR may lead to the exemption being withdrawn.

        Amended: October 2009
        Adopted: July 2007

      • BR-1.1.10

        For the purpose of Rule BR-1.1.8, the time allowed for submission of the Auditor's report is 15 calendar days from the date of submission of the return to the CBB.

        Amended: October 2009
        Adopted: July 2007

    • Preparation and Submission of the Quarterly Prudential Return

      • BR-1.1.11

        If the CBB notifies an investment firm licensee that a Form submitted under Rule BR-1.1.1 appears to be inaccurate or incomplete, the investment firm licensee must promptly look into the matter and within 5 business days of the CBB notification (or as otherwise agreed), correct any inaccuracies or make good any omissions, and submit the amended parts of the Quarterly Prudential Return.

        Amended: October 2009
        Adopted: July 2007

      • BR-1.1.12

        [This Paragraph was deleted in January 2022].

        Deleted: January 2022
        Amended: October 2009
        Adopted: July 2007

    • Public Disclosure

      • BR-1.1.13

        Submitted Forms QPR are not public documents and will not be disclosed to third parties by the CBB without the investment firm licensee's consent. However, the CBB may from time to time publish aggregate information derived from such Forms, relating to categories of investment firm licensees or the Bahrain investment business sector as a whole.

        Adopted: July 2007

      • BR-1.1.14

        Whilst submitted Forms QPR are not public documents, investment firm licensees are not prevented from providing complete copies (including all relevant certifications and reports) to third parties.

        Adopted: July 2007