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  • TC-B.1 TC-B.1 Scope

    • TC-B.1.1

      This Module applies to all CBB investment firm licensees authorised in the Kingdom.

      Adopted: July 2010

    • TC-B.1.2

      Module TC, unless otherwise stated, applies in full to all three categories of investment firm licensees authorised in Bahrain. In the case of an overseas investment firm licensee, the applicability of this Module is restricted to its Bahrain operations.

      Adopted: July 2010

    • TC-B.1.3

      Persons authorised by the CBB as approved persons prior to the issuance of Module TC need not reapply for authorisation.

      Adopted: July 2010

    • TC-B.1.4

      The requirements of this Module apply to approved persons, including board members, holding controlled functions:

      (a) Who are employed by the investment firm licensee in connection with the investment firm licensee's regulated investment services, whether under a contract of service or for services or otherwise;
      (b) Whose services, under an arrangement between the investment firm licensee and a third party, are placed at the disposal and under the control of the investment firm licensee; or
      (c) Employed by the investment firm licensee, whether under a contract of service or for services or otherwise, for which that investment firm licensee has accepted responsibility.
      Amended: July 2014
      Amended: October 2013
      Adopted: July 2010

    • TC-B.1.5

      Investment firm licensees must satisfy the CBB that individuals performing a controlled function for it or on its behalf are suitable and competent to carry on that controlled function.

      Adopted: July 2010

    • TC-B.1.6

      In implementing this Module, investment firm licensees must ensure that:

      (a) Individuals recruited by the investment firm licensee to perform a controlled function hold suitable qualifications and experience appropriate to the nature of the business;
      (b) Individuals performing a controlled function remain competent for the work they do; and
      (c) Individuals performing a controlled function are appropriately supervised.
      Amended: October 2013
      Adopted: July 2010