Central Bank of Bahrain -Rulebooks & Regulatory Update

CBB Volume 4: Contents

Central Bank of Bahrain Volume 4—Investment Business

High Level Standards

AU Authorisation

PB Principles of Business

HC High-Level Controls Module

HC-A Introduction

HC-B Scope of Application

HC-2 Approved Persons Loyalty

HC-3 Audit Committee and Financial Statements Certification

HC-4 Appointment, Training and Evaluation of the Board

HC-5 Remuneration of Approved Persons

HC-6 Management Structure

HC-7 Communication between Board and Shareholders

HC-8 Corporate Governance Disclosure

HC-9 Islamic Investment Firm Licensees

HC-10 Category 3 Investment Firm Licensees

HC-10.1 The Board

Role and Responsibilities

Decision Making Process

Directors' Communication with Management

HC-10.2 Approved Persons Loyalty

HC-10.3 Financial Statements Certification

HC-10.4 Appointment, Training and Evaluation of the Board

HC-10.5 Remuneration of Approved Persons

HC-10.6 Management Structure

HC-10.7 Communication between Board and Shareholders

HC-10.8 Corporate Governance Disclosure

HC-10.9 Islamic Investment Firm Licensees

Appendix A Audit Committee

Appendix B Corporate Governance Disclosure to Shareholders

AA Auditors and Accounting Standards

GR General Requirements

Business Standards

Reporting Requirements

Enforcement & Redress

Quarterly Updates

Ad-hoc Communications

Archived Part A

Location: Central Bank of Bahrain Volume 4—Investment Business > Part A > High Level Standards > HC High-Level Controls Module > HC-10 Category 3 Investment Firm Licensees > HC-10.1 The Board > Directors' Communication with Management

Directors' Communication with Management

HC-10.1.14
The Board must encourage participation by management regarding matters the Board is considering, and also by management members who by reason of responsibilities or succession, the CEO believes should have exposure to the directors.

January 2011

HC-10.1.15
Non-executive directors^G should have free access to the investment firm licensee's^G management beyond that provided in Board meetings. Such access should be through the Chairman of the Audit Committee or CEO. The Board should make this policy known to management to alleviate any management concerns about a director's authority in this regard.

January 2011