MAE-2.1.2

A licensed exchange or licensed market operator shall, as soon as practicable after the occurrence of any of the following circumstances, notify the CBB of the circumstance:

(a) Any material change to the information provided by the licensed exchange or licensed market operator in its application under MAE-1.2;
(b) The carrying on of any business by the licensed exchange or licensed market operator other than:
(i) The business of operating a market;
(ii) A business incidental to operating a market; or
(iii) Such business or class of businesses as the CBB may prescribe;
(c) The acquisition by the licensed exchange or licensed market operator of a substantial shareholding in a corporation which does not carry on:
(i) The business of operating a market;
(ii) A business incidental to operating a market; or
(iii) Such business or class of businesses as the CBB may prescribe;
(d) The licensed exchange or licensed market operator becoming aware of a financial irregularity or other matter which in its opinion:
(i) May affect its ability to discharge its financial obligations; or
(ii) May affect the ability of a member of the licensed exchange or licensed market operator to meet its financial obligations to the licensed exchange or licensed market operator;
(e) The licensed exchange or licensed market operator reprimanding, fining, suspending, expelling or otherwise taking disciplinary action against a member of the licensed exchange or licensed market operator;
(f) The licensed exchange or licensed market operator reprimands, suspends, dismisses or otherwise takes disciplinary action against any of its directors, or key management officers or if any director or key management officer is subject to an order or petition of bankruptcy or criminal prosecution;
(g) Any civil or criminal legal proceeding instituted against the licensed exchange or licensed market operator, whether in Bahrain or elsewhere;
(h) Any disciplinary action taken against the licensed exchange or licensed market operator by any regulatory body, whether in Bahrain or elsewhere, other than the CBB;
(i) Any significant change to the regulatory requirements imposed on the licensed exchange or licensed market operator by any regulatory body, whether in Bahrain or elsewhere, other than the CBB;
(j) A failure by the licensed exchange or licensed market operator to adhere to the trading days, hours or sessions of the licensed exchange or licensed market operator;
(k) Any disruption of, delay in, suspension of, or termination in any trading procedure or trading practice of the licensed exchange or licensed market operator including those resulting from any system failure;
(l) Any other matter that the CBB may specify by notice in writing to the licensed exchange or licensed market operator.
Amended: April 2013