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    • Real Time Promotion

      Defined in Paragraph BC-2.3.13.

    • Registered administrator

      Persons registered by BMA, and thus allowed to carry on the business of an administrator. See Section AU-1.3.

    • Registered persons

      Refer to registered administrators.

    • Regulated banking services

      Any of the regulated activities permitted to be undertaken by a conventional bank licensee.

    • Regulated investment services

      Any of the following, as further defined in Section AU-1.4:

      (a) Dealing in financial instruments as principal;
      (b) Dealing in financial instruments as agent;
      (c) Arranging deals in financial instruments;
      (d) Managing financial instruments;
      (e) Safeguarding financial instruments (i.e. custodian);
      (f) Advising on financial instruments; and
      (g) Operating a collective investment undertaking (i.e. an operator).
      Amended: January 2011
      Amended: July 2007

    • Regulated Islamic banking services

      Any of the regulated activities permitted to be undertaken by an Islamic bank licensee.

    • Regulatory Capital

      Capital elements that satisfy the regulatory criteria for admissibility, in the context of calculating compliance with Regulatory Capital Requirements. Defined in Chapter CA-2.

    • Regulatory Capital Requirement

      Defined in Rule CA-1.2.2 for Category 1 and Category 2 investment firms, and in Rule CA-1.2.3 for Category 3 investment firms.

    • Relevant Authorities

      For the purposes of Module FC, relevant authority refers to the authorities listed in Rule FC-4.3.2.

      Amended: October 2014

    • Relevant Operating Expenses

      For the purposes of calculating a licensee's annual CBB license fee, relevant operating expenses are defined as the total operating expenses of the licensee concerned, as recorded in the most recent audited financial statements available, excluding the following items:

      (a) Training costs;
      (b) Charitable donations;
      (c) CBB fees paid; and
      (d) Non-executive Directors' remuneration.
      Adopted: July 2007

    • Remuneration

      Means all types of compensation including but not limited to salary, fee and non-cash benefits such as grants of stock, stock options or pension benefits.

      Added: January 2011

    • Reporting Accountant

      A Reporting Accountant is a person appointed by the CBB under the authority of Article 114 of the CBB Law, as an Inspector of the business of a licensee or listed company.

      Added: July 2010

    • Representative office

      A person who is licensed by the CBB to undertake only representative office functions:

      (i) Gather financial, economic and commercial information;
      (ii) Carry out general promotional activities; and/or
      (iii) Provide general assistance of a non specific nature to resident and non resident clients of the overseas entity/group the office is representing.

      Such persons are not subject to Volume 4 of the CBB Rulebook, but are separately licensed and subject to the requirements contained in the relevant CBB's 'Standard Conditions and Licensing Criteria' (cf. AU-A.1.12).

      Amended: July 2007

    • Retail Client

      Defined in Rule BC-2.2.8. A retail client means a client who is not classified as an expert investor or an accredited investor under Rules BC-2.2.9 and BC-2.2.1

      Amended: Oct 09

    • Risk-based Capital Requirement(s)

      Defined in Rule CA-1.2.8. The Risk-based Capital Requirement is the sum of a firm's Expenditure Requirement, Position Risk Requirement (PRR), Counterparty Risk Requirement (CRR), and Foreign Exchange Risk Requirement (FER).

      Amended: July 2007