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Location: Central Bank of Bahrain Volume 5—Specialised Licensees > Common Modules (Applicable to all Specialised Licensees) > Part A > Enforcement & Redress > EN Enforcement > EN-1 Formal Requests for Information
  • EN-1 Formal Requests for Information

    • EN-1.1 Legal Source

      • EN-1.1.1

        As part of its on-going supervision, under Articles 111 and 123 of the CBB Law, the CBB may specifically request information or temporary reporting from a licenseeG or individual. Recipients of such requests are bound to respond to such requests under the terms of their license.

        October 2010

    • EN-1.2 Procedure

      • EN-1.2.1

        To clearly identify formal information requests, these will always be made in writing, under signature of a Director or more senior official of the CBB. They will include the statement, "This is a formal request for information as defined in Chapter 1 of Module EN of Volume 5 of the CBB Rulebook"; and will state the deadline by which the information is to be communicated to the CBB.

        October 2010

      • EN-1.2.2

        Failure to respond to such formal requests within the deadline set will be viewed as a significant breach of regulatory requirements and may result in a formal warning or other enforcement measure, specified under Articles 163 and 170 of the CBB Law, as decided by the CBB depending on the circumstances of the case.

        October 2010

      • EN-1.2.3

        The deadline set in the request will vary depending on individual circumstances. A recipient may submit a case for an extension to the deadline; it should do so as soon as possible if it believes that an extension will be required, and in any event prior to the passing of the original deadline. Unless otherwise directed by the CBB, the original deadline remains valid pending consideration by the CBB of a request for an extension. The CBB will respond before the original deadline has passed; if it fails to do so, then the requested extension will apply. Whilst waiting for a reply, the recipient must assume that the original deadline will apply.

        October 2010

      • EN-1.2.4

        The above procedures do not prevent individual CBB supervisors from making oral requests for information as part of their day-to-day interaction with authorised personsG . The CBB expects authorised personsG to maintain their cooperative response to such requests; however, in the interests of clarity, the CBB will not view failures to respond to oral requests as a breach of regulatory requirements.

        October 2010

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