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Location: Central Bank of Bahrain Volume 4—Investment Business > Part A > Business Standards > CL Client Assets > CL-4 Mandates
  • CL-4 Mandates

    • CL-4.1 Mandates

      • CL-4.1.1

        This section applies to an investment firm licenseeG in respect of any written mandateG from a clientG under which the investment firm licenseeG may control a client'sG assets or liabilities in the course of, or in connection with, the investment firm licensee'sG regulated investment services.

      • Systems and Controls

        • CL-4.1.2

          An investment firm licenseeG that holds mandatesG of the sort described in CL-4.1.1 must establish and maintain adequate records and internal controls in respect of its use of the mandatesG , which should include:

          (a) An up-to-date list of the mandatesG and any conditions placed by the clientG or the investment firm licensee'sG management on their use;
          (b) A record of all transactions entered into using the mandatesG , and internal controls to ensure that they are within the scope of authority of the person and the investment firm licenseeG entering into the transaction;
          (c) The details of the procedures for the giving and receiving of instructions under the authority; and
          (d) Where the investment firm licenseeG holds a passbook or similar documents belonging to the clientG , internal controls, for the safeguarding (including against loss, unauthorized destruction, theft, fraud or misuse) of any passbook or similar document belonging to the clientG held by the investment firm licenseeG .
          Amended: January 2007

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