RP-12.4.1

The minimum duties of the placement agent of overseas domiciled CIUs authorised, registered or filed under Module ARR include, but are not limited to the following:

(a) To ensure that the CIU is regulated in its home jurisdiction, and is legally separate from its operator;
(b) To ensure that the CIU's operator and fund manager are eligible regulated entities;
(c) To ensure that the CIU has in place relevant persons appointed in their home jurisdiction, similar to those listed in under Rule RP-B.2.1;
(d) To ensure that all investors wishing to subscribe for the units of a CIU are eligible to subscribe for such units;
(e) To ensure that all investors of an overseas domiciled expert CIU meet the definition of expert investors as defined in this Module;
(f) To ensure that all investors of an overseas domiciled exempt CIU meet the definition of accredited investors as defined in this Module;
(g) To obtain written confirmation from each CIU participant, stating that they satisfy the definition of an expert investor or accredited investor (as appropriate) and confirming that they understand the higher risks involved in an expert CIU or exempt CIU;
(h) To provide a copy of the prospectus and the subscription agreement of the CIU to potential investors;
(i) To ensure that investors submit duly executed subscription forms, together with all required documentation;
(j) To ensure that a CIU is marketed by qualified individuals who are able to clearly explain to investors the risks and rewards associated with investing in the CIU, in a manner that is clear, fair and not misleading;
(k) To be responsible for addressing any client complaints and/or enquiries and to provide any such other information supplementary to the prospectus as may be reasonably required by existing or potential investors;
(l) To ensure that the units subscribed for by clients are appropriately identified as clients' holdings in the books and records of the issuer; and
(m) To comply at all times with all the laws of the Kingdom of Bahrain and the regulations and directives issued by the CBB from time to time, including those set to prevent and prohibit money laundering and the financing of terrorism.
Amended: July 2015
April 2012