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  • Compliance

    • PD-1.3.17

      The annual report must include a declaration by the external auditor that it did not come across any violations of the requirements below during the course of its audit work that would have any material negative impact on the financial position of the licensee:

      (a) The Bahrain Commercial Companies Law;
      (b) The CBB Law where a violation might have had a material negative effect on the business of the licensee or on its financial position;
      (c) The Regulations and Directives issued by the CBB, including Volume 6 (Capital Markets); and
      (d) The Rulebook of the licensed exchange and associated Resolutions, Rules and Procedures.
      January 2014

    • PD-1.3.18

      The annual report must disclose the amount of any penalties paid to the CBB during the period of the report together with a factual description of the reason(s) given by the CBB for the penalty (see Module EN). Licensees which fail to comply with this requirement will be required to make the disclosure in the annual audited financial statements of the subsequent year and will be subject to enforcement action for non-disclosure.

      Amended: October 2019
      January 2014