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Location: Central Bank of Bahrain Volume 4—Investment Business > Part A > Business Standards > FC Financial Crime > FC-6 Record-Keeping > FC-6.1 General Requirements
  • FC-6.1 General Requirements

    • CDD and Transaction Records

      • FC-6.1.1

        Investment firm licenseesG must comply with the record-keeping requirements contained in the AML Law and in the CBB Law. Investment firm licenseesG must therefore retain adequate records (including accounting and identification records), for the following minimum periods:

        (a) For customers, in relation to evidence of identity and business relationship records (such as application forms, account files and business correspondence, including the results of any analysis undertaken (e.g. enquiries to establish the background and purpose of complex, unusual large transactions)), for at least five years after the customer relationship has ceased; and
        (b) For transactions, in relation to documents enabling a reconstitution of the transaction concerned, for at least five years after the transaction was completed.
        Amended: October 2014
        Amended: April 2008
        Amended: January 2007

    • Compliance Records

      • FC-6.1.2

        Investment firm licenseesG must retain copies of the reports produced for their annual compliance review, as specified in Paragraph FC-3.3.1B, for at least five years. Investment firm licenseesG must also maintain for 5 years reports made to, or by, the MLRO made in accordance with Sections FC-4.1 and FC-4.2, and records showing how these reports were dealt with and what action, if any, was taken as a consequence of those reports.

        Amended: January 2019
        Amended: January 2007

    • Training Records

      • FC-6.1.3

        Investment firm licenseesG must maintain for at least five years, records showing the dates when AML/CFT training was given, the nature of the training, and the names of the staff that received the training.

    • Access

      • FC-6.1.4

        All records required to be kept under this Section must be made available for prompt and swift access by the relevant authorities or other authorised persons.

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