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  • CIU-1.5 CIU-1.5 Prospectus Requirements

    • Prospectus

      • CIU-1.5.1

        Every Bahrain domiciled retail CIU authorised under Section CIU-1.1 must publish a prospectus containing (at a minimum) the information set out in Appendix B.

      • CIU-1.5.2

        The CIU's directors (or trustees in the case of a trust) must declare that the prospectus:

        a) Does not contain information that is untrue, misleading, or is unfairly prejudicial to the interests of the CIU participants generally or to the participants of other classes of instruments issued by the CIU; and
        b) Does not contain any provision that conflicts with any rule in this Rulebook, or other legal or regulatory requirements that apply to the CIU or other relevant persons connected to the CIU.

      • CIU-1.5.3

        The instrument constituting the Bahrain domiciled retail CIU (i.e. the CIU's rules or instruments of incorporation — see also Section CIU-1.2) must form an integral part of the prospectus and must be annexed to it. Alternatively, the prospectus must specify where the instrument constituting the Bahrain domiciled retail CIU may be obtained.

      • CIU-1.5.4

        The CIU must keep the prospectus up-to-date, such that the information it contains is materially current.

      • CIU-1.5.5

        Once authorised, prior approval must be obtained from the CBB for any subsequent material changes to the prospectus. An updated copy of the prospectus must be made available to CBB within 30 calendar days of the revision being agreed, and CIU participants must be notified of the changes at least 14 calendar days before they take effect.

      • CIU-1.5.6

        For the purposes of above, material revisions include changes in the CIU's manager, administrator or custodian; a change to the investment strategy; or a change in fees.

      • CIU-1.5.7

        The CIU must provide a copy of its most recent prospectus free of charge to a potential investor.

      • CIU-1.5.8

        The CIU must upon request provide explanations and such other information supplementary to the prospectus as may reasonably be required by a potential investor.

    • Simplified Prospectus

      • CIU-1.5.9

        Where a simplified prospectus is published by a Bahrain domiciled retail CIU, it must include (as a minimum) the information specified in Appendix C. It must also include a statement specifying that more detailed information on the CIU is contained in the prospectus, a copy of which must be made available free of charge to potential investors upon request.

      • CIU-1.5.10

        A simplified prospectus must contain a summary of the key features of the CIU, including its investment policy and fee structure. It must not be misleading.

      • CIU-1.5.11

        A simplified prospectus must be kept up to date, such that the information it contains is materially current and accurately represents the prospectus.

      • CIU-1.5.12

        There is no requirement for a simplified prospectus to be approved by the CBB, nor for any subsequent material changes to be approved or notified. However, the simplified prospectus must accurately reflect the prospectus, which is subject to approval and notification requirements (see Rule CIU-1.5.4 above).