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  • Executive Summary

    • TC-A.1.1

      This Module presents requirements that have to be met by investment firm licensees with respect to training and competency of individuals undertaking controlled functions (i.e. approved persons).

      Amended: October 2013
      Adopted: July 2010

    • TC-A.1.2

      Module TC provides Rules and Guidance to Investment firm licensees to ensure satisfactory levels of competence, in terms of an individual's knowledge, skills, experience, and professional qualifications. Investment firm licensees, are required to demonstrate that individuals undertaking controlled functions are sufficiently competent, and are able to undertake their respective roles and responsibilities.

      Amended: October 2013
      Adopted: July 2010

    • TC-A.1.3

      The Rules build upon Principles 3 and 9 of the Principles of Business (see Module PB (Principles of Business)). Principle 3 (Due Skill, Care and Diligence) requires an investment firm licensee to observe high standards of integrity and fair dealing, and to be honest and straightforward in its dealings with clients. Principle 9 (Adequate Resources) requires an investment firm licensee to maintain adequate human, financial and other resources sufficient to run its business in an orderly manner.

      Adopted: July 2010

    • TC-A.1.4

      Condition 4 of the Central Bank of Bahrain's ('CBB') Licensing Conditions (Chapter AU-2.4) and Condition 1 of the Approved Persons regime (Chapter AU-3.1) impose further requirements. To satisfy Condition 4 of the CBB's Licensing Conditions, an investment firm licensee's staff, taken together, must collectively provide a sufficient range of skills and experience to manage the affairs of the licensee in a sound and prudent manner (AU-2.4). This condition specifies that investment firm licensees must ensure their employees meet any training and competency requirements specified by the CBB. Condition 1 of the Approved Persons Conditions (AU-3.1) sets forth the 'fit and proper' requirements in relation to competence, experience and expertise required by approved persons.

      Amended: January 2011
      Adopted: July 2010