This Module contains the Central Bank of Bahrain's ('CBB') Directive (as amended from time to time) on client assets, with respect to investment firm licensees, and is issued under the powers available to the CBB under Article 38 of the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). The Directive in this Module is applicable to Category 1 investment firms and Category 2 investment firms.