• FC-9 FC-9 Enforcement Measures

    • FC-9.1 FC-9.1 Regulatory Penalties

      • FC-9.1.1

        Without prejudice to any other penalty imposed by the CBB Law, the AML Law No. 4 or the Penal Code of the Kingdom of Bahrain, failure by a licensee to comply with this Module or any direction given hereunder shall result in the levying by the CBB, without need of a court order and at the CBB's discretion, of a fine of up to BD 20,000.

        October 2010

      • FC-9.1.2

        Module EN provides further information on the assessment of financial penalties and the criteria taken into account prior to imposing such fines (reference to Paragraph EN-5.1.4). Other enforcement measures may also be applied by the CBB in response to a failure by a licensee to comply with this Module; these other measures are also set out in Module EN.

        October 2010

      • FC-9.1.3

        The CBB will endeavor to assist licensees to interpret and apply the requirements of this Module. Licensees may seek clarification on any issue by contacting the Compliance Directorate (see Section FC-5.3 for contact details).

        October 2010

      • FC-9.1.4

        Without prejudice to the CBB's general powers under the law, the CBB may amend, clarify or issue further directions on any provision of this Module from time to time, by notice to its licensees.

        October 2010