MAE-8.1.1
Where the CBB is satisfied that an officer of a
(a) Has wilfully contravened or wilfully caused that licensed exchange or licensed market operator to contravene:
(i) The CBB Law or Module MAE;
(ii) Where applicable, its business rules ; or
(iii) Where applicable, its listing rules ;
(b) Has without reasonable excuse, failed to ensure compliance by that licensed exchange or licensed market operator , a member of that licensed exchange or licensed market operator , or a person associated with that member with:
(i) The CBB Law or Module MAE;
(ii) Where applicable the business rules of that licensed exchange or licensed market operator ; or
(iii) Where applicable, the listing rules of that licensed exchange or licensed market operator ;
(c) Has failed to discharge the duties or functions of his office or employment;
(d) Is an undischarged bankrupt, whether in Bahrain or elsewhere;
(e) Has had execution against him in respect of a judgement debt returned unsatisfied in whole or in part;
(f) Has whether in Bahrain or elsewhere, made a compromise or scheme of arrangement with his creditors, being a compromise or scheme of arrangement that is still in operation; or
(g) Has been convicted whether in Bahrain or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly;
the CBB may if it thinks it is necessary in the interests of the public or a section of the public, or for the protection of investors, by notice in writing direct that a
Amended: April 2016
Amended: April 2013
Amended: April 2013