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  • General Principles

    • CRA-12.3.1

      Licensees must:

      (a) Seek from its clients information relevant to the crypto-asset or regulated crypto-asset service requested;
      (b) In the completion of any document, make it clear that all the answers or statements regarding the client’s personal details and circumstances are the client’s own responsibility. The client should always be required to assume responsibility for the completed document and be advised that incomplete and/or inaccurate information may prejudice the client’s rights;
      (c) Not withhold from the client any written evidence or documentation relating to the crypto-asset or regulated crypto-asset service without adequate and justifiable reasons being disclosed in writing and without delay to the client;
      (d) Not recklessly, negligently or deliberately mislead a client in relation to the real or perceived advantages or disadvantages of any crypto-asset or regulated crypto-asset service;
      (e) Ensure that all instructions from, or on behalf, of a client are processed properly and promptly;
      (f) Have proper regard for the wishes of a client who seeks to terminate any agreement with it to carry out business;
      (g) [This Subparagraph was deleted in April 2023].
      (h) Not exert undue pressure or undue influence on a client;
      (i) Give advice only on those crypto-assets or regulated crypto-asset services in which the licensee is knowledgeable and seek or recommend other specialist advice when necessary; and
      (j) Treat all information supplied by the client with complete confidentiality.
      (k) [This Subparagraph was deleted in April 2023].
      Amended: April 2023
      Added: April 2019

    • CRA-12.3.2

      [This Paragraph was deleted in April 2023].

      Deleted: April 2023
      Added: April 2019

    • CRA-12.3.3

      For the purposes of CRA-12.3.1(j), the requirement to maintain all client information confidential shall not apply to:

      (a) The disclosure of client information for such purposes, or in such circumstances as the CBB; or
      (b) [This Subparagraph was deleted in April 2023].
      (c) The disclosure of client information pursuant to any requirement imposed under any applicable law or court order in the Kingdom of Bahrain.
      Amended: April 2023
      Added: April 2019

    • CRA-12.3.4

      Where a licensee deals with a person who is acting for a client under a power of attorney, the licensee must:

      (a) obtain a certified true copy of the power of attorney;
      (b) ensure that the power of attorney allows the person to act on the client's behalf; and
      (c) operate within the limitations set out in the power of attorney.
      Added: April 2019

    • CRA-12.3.5

      [This Paragraph was deleted in April 2023].

      Deleted: April 2023
      Added: April 2019