Bahrain Collective Investment Schemes Regulations: Contents

Regulation Governing Collective Investment Schemes June 2003
Principles of Supervision, Operation and Marketing with respect to Collective Investment Schemes
Skip to Content
Whole SectionText only Print Print Manager Link

Scheme Investigation

54. Where it appears to the Agency that it is desirable for the protection of the public, the scheme, the scheme participants or potential scheme participants, to appoint a person to investigate:
(i) any alleged breach of any part of these Principles, any directions of the Agency issued pursuant hereto, a scheme, or any defalcation, fraud or misfeasance in connection with a scheme, and/or
(ii) any matter concerning dealing in securities or any other assets, or the giving of investment advice, in relation to a scheme,
the Agency may appoint a person to investigate the allegation or matter and to report thereon to the Agency.
55. Any person appointed by the Agency pursuant to paragraph 54 above shall be entitled to inspect and take possession of all documents in the possession of any person, to interview all persons relevant to such investigation and to be given all reasonable assistance in relation to such investigation.
56. At the conclusion of such investigation, the person appointed by the Agency to carry out the investigation shall provide to the Agency a report containing the results of such investigation. A copy of such report shall, at the Agency's discretion, be given by it to the investigated person. Any evidence produced as a result of an investigation undertaken pursuant to these Principles shall be made available to the Agency and, if the Agency so deems appropriate, to the Director of Public Prosecutions.
57. If it appears to the Agency as a result of the investigation that the person investigated has carried out its operations in any way which contravenes these Principles, any directions issued by the Agency hereunder, the scheme documents, and/or the BMA Law, such person shall be required to take such action as the Agency deems appropriate.
Back to top