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  • HC-B.1 HC-B.1 License Categories

    • HC-B.1.1

      The contents of this Module — unless otherwise stated — apply to Category 1 and Category 2 investment firm licensees, incorporated under the Bahrain Commercial Companies Law ('the Company Law').

      January 2011

    • HC-B.1.2

      For Category 3 investment firms, the applicable Guidance Paragraphs are included in Chapter HC-10. The Comply or Explain Principle (see Paragraph HC-A.1.8) applies to the content of Chapter HC-10.

      January 2011

    • HC-B.1.3

      Overseas investment firm licensees must satisfy the CBB that equivalent arrangements are in place at the parent entity level, and that these arrangements provide for effective high-level controls over activities conducted under the Bahrain license.

      January 2011

    • HC-B.1.4

      In assessing compliance with Paragraph HC-B.1.3, the CBB will take into account regulatory requirements applicable to the parent entity, as well as the governance and systems and controls arrangements actually implemented by the parent entity and applied to the Bahrain operation. With the exception of specific requirements that explicitly apply to overseas investment firm licensees (i.e. Paragraphs HC-B.1.3), overseas investment firm licensees should consider the remaining contents of this Chapter as guidance, in judging whether high-level controls applied to the branch satisfy HC-B.1.3.

      January 2011