• Archived Part A

    • HC HC High Level Controls [deleted]

      • Chapter HC-A Chapter HC-A Introduction [deleted]

        • HC-A.1 HC-A.1 Purpose [deleted]

          • Executive Summary [deleted]

            • HC-A.1.1 [deleted]

            • HC-A.1.2 [deleted]

            • HC-A.1.3 [deleted]

          • Legal Basis [deleted]

            • HC-A.1.4 [deleted]

            • HC-A.1.5 [deleted]

        • HC-A.2 HC-A.2 Module History [deleted]

          • Evolution of the Module [deleted]

            • HC-A.2.1 [deleted]

            • HC-A.2.2 [deleted]

          • Superseded Requirements [deleted]

            • HC-A.2.3 [deleted]

            • HC-A.2.4 [deleted]

      • Chapter HC-B Chapter HC-B Scope of Application [deleted]

        • HC-B.1 HC-B.1 License Categories [deleted]

          • HC-B.1.1 [deleted]

          • HC-B.1.2 [deleted]

          • HC-B.1.3 [deleted]

        • HC-B.2 HC-B.2 Branches, Subsidiaries and Affiliates [deleted]

          • Bahraini investment firm licensees [deleted]

            • HC-B.2.1 [deleted]

            • HC-B.2.2 [deleted]

            • HC-B.2.3 [deleted]

          • Overseas investment firm licensees [deleted]

            • HC-B.2.4 [deleted]

            • HC-B.2.5 [deleted]

      • Chapter HC-1 Chapter HC-1 The Board [deleted]

        • HC-1.1 HC-1.1 Functions and Responsibilities [deleted]

          • General Requirements [deleted]

            • HC-1.1.1 [deleted]

            • HC-1.1.2 [deleted]

          • Specific Requirements [deleted]

            • HC-1.1.3 [deleted]

            • HC-1.1.4 [deleted]

            • HC-1.1.5 [deleted]

            • HC-1.1.6 [deleted]

            • HC-1.1.7 [deleted]

            • HC-1.1.8 [deleted]

            • HC-1.1.9 [deleted]

            • HC-1.1.10 [deleted]

            • HC-1.1.11 [deleted]

            • HC-1.1.12 [deleted]

            • HC-1.1.13 [deleted]

            • HC-1.1.14 [deleted]

            • HC-1.1.15 [deleted]

        • HC-1.2 HC-1.2 Composition [deleted]

          • HC-1.2.1 [deleted]

          • HC-1.2.2 [deleted]

          • HC-1.2.3 [deleted]

          • HC-1.2.4 [deleted]

          • HC-1.2.5 [deleted]

          • HC-1.2.6 [deleted]

          • HC-1.2.7 [deleted]

          • HC-1.2.7A [deleted]

          • HC-1.2.8 [deleted]

          • HC-1.2.9 [deleted]

          • HC-1.2.10 [deleted]

          • HC-1.2.11 [deleted]

          • HC-1.2.12 [deleted]

          • HC-1.2.13 [deleted]

          • HC-1.2.14 [deleted]

        • HC-1.3 HC-1.3 Meetings and Attendance [deleted]

          • HC-1.3.1 [deleted]

          • HC-1.3.2 [deleted]

          • HC-1.3.3 [deleted]

          • HC-1.3.4 [deleted]

          • HC-1.3.5 [deleted]

          • HC-1.3.6 [deleted]

      • Chapter HC-2 Chapter HC-2 Other High-level Controls [deleted]

        • HC-2.1 HC-2.1 Chief Executive / General Manager / Managing Director [deleted]

          • HC-2.1.1 [deleted]

          • HC-2.1.2 [deleted]

          • HC-2.1.3 [deleted]

          • HC-2.1.4 [deleted]

          • HC-2.1.5 [deleted]

          • HC-2.1.6 [deleted]

          • HC-2.1.7 [deleted]

        • HC-2.2 HC-2.2 Segregation of Duties [deleted]

          • HC-2.2.1 [deleted]

          • HC-2.2.2 [deleted]

          • HC-2.2.3 [deleted]

          • HC-2.2.4 [deleted]

        • HC-2.3 HC-2.3 Internal Audit [deleted]

          • HC-2.3.1 [deleted]

          • HC-2.3.2 [deleted]

          • HC-2.3.3 [deleted]

          • HC-2.3.4 [deleted]

          • HC-2.3.5 [deleted]

          • HC-2.3.6 [deleted]

          • HC-2.3.7 [deleted]

          • HC-2.3.8 [deleted]

          • HC-2.3.9 [deleted]

          • HC-2.3.10 [deleted]

          • HC-2.3.11 [deleted]

        • HC-2.4 HC-2.4 Compliance [deleted]

          • HC-2.4.1 [deleted]

          • HC-2.4.2 [deleted]

          • HC-2.4.3 [deleted]

          • HC-2.4.4 [deleted]

        • HC-2.5 HC-2.5 Remuneration Policies [deleted]

          • HC-2.5.1 [deleted]

          • HC-2.5.2 [deleted]

          • HC-2.5.3 [deleted]

          • HC-2.5.4 [deleted]

        • HC-2.6 HC-2.6 Corporate Ethics [deleted]

          • HC-2.6.1 [deleted]

          • HC-2.6.2 [deleted]

          • HC-2.6.3 [deleted]

          • HC-2.6.4 [deleted]

          • HC-2.6.5 [deleted]

      • Chapter HC-3 Chapter HC-3 Annual Certification [deleted]

        • HC-3.1 HC-3.1 Annual Board Review and Certification [deleted]

          • HC-3.1.1 [deleted]

          • HC-3.1.2 [deleted]

          • HC-3.1.3 [deleted]

          • HC-3.1.4 [deleted]

        • HC-3.2 HC-3.2 Scope of the Review [deleted]

          • HC-3.2.1 [deleted]

          • HC-3.2.2 [deleted]

    • GR GR General Requirements

      • GR-5.3 GR-5.3 Suitability of Controllers

        • GR-5.3.3 [Replaced 1 October 2015]

          Natural persons who intend to take a stake of 20% or more in a Bahraini investment firm licensee are subject to enhanced scrutiny, given the CBB's position as home supervisor of such licensees. The level of scrutiny and the expected compliance with the above standards become more onerous as the level of proposed ownership increases. Natural persons will not normally be approved to take majority control (i.e. a stake of 50% or more of either the capital or voting rights) of a Bahraini investment firm licensee.

          Amended: October 2011
          Amended: October 2009
          Amended: April 2008
          Amended: July 2007

        • GR-5.3.5 [Replaced 1 October 2015]

          Legal persons who intend to take a stake of 20% or more in a Bahraini investment firm licensee are subject to enhanced scrutiny, given the CBB's position as home supervisor of such licensees. The level of scrutiny and of expected compliance with the above standards becomes more onerous as the level of proposed ownership increases. In particular, unregulated legal persons will not normally be approved to take majority control (i.e. a stake of 50% or more of either the capital or voting rights) of a Bahraini investment firm licensee, unless the proposed parent is a well-established business (that satisfies the above conditions), and its ownership would not pose undue conflicts of interest. Regulated legal persons will normally only be approved to take majority control where – in addition to the above conditions – the resulting group would be subject to effective consolidated supervision in accordance with relevant international standards; and the home supervisor of the parent entity has agreed to the proposed acquisition, as well as to the sharing of relevant prudential information for supervisory purposes (expressed, if necessary, through the signing of a Memorandum of Understanding between the CBB and the home supervisor, setting out their respective supervisory responsibilities).

          Amended: October 2011
          Amended: October 2009
          Adopted: July 2007

        • GR-5.3.6 [Replaced 1 October 2015]

          The CBB may contact references and supervisory bodies in connection with any information provided to support an application for controller. The CBB may also ask for further information, in addition to that provided in the Form 2, if required to satisfy itself as to the suitability of the applicant.

          Amended: January 2011
          Adopted: July 2007