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Location: Central Bank of Bahrain Volume 4—Investment Business > Part A > High Level Standards > AU Authorisation > AU-1 Authorisation Requirements > AU-1.2 Approved Persons > General Requirement > AU-1.2.4
  • General Requirement

    • AU-1.2.1

      Investment firm licenseeG must obtain the CBB's prior written approval for any person wishing to undertake a controlled functionG in an investment firm licenseeG . The approval from the CBB must be obtained prior to their appointment, subject to the variations contained in Paragraphs AU-1.2.3 to AU-1.2.5.

      Amended: January 2016
      Amended: July 2007

    • AU-1.2.2

      Controlled functionsG are those of:

      (a) DirectorG ;
      (b) Chief ExecutiveG or General ManagerG ;
      (c) Head of functionG ;
      (d) Compliance officer;
      (e) Money Laundering Reporting Officer;
      (f) [Subparagraph deleted in January 2011];
      (g) Member of Shari'a Supervisory Board (where applicable);
      (h) Financial Instruments TraderG ; and
      (i) Investment consultantG or investment adviserG .
      Amended: April 2018
      Amended: January 2016
      Amended: January 2011
      Amended: October 2009
      July 2007

    • AU-1.2.3

      In the case of Bahraini investment firm licenseesG , prior approval is required for all of the above controlled functionsG . Combination of the above controlled functionsG is subject to the requirements contained in Modules HC and RM.

      Amended: October 2009
      July 2007

    • AU-1.2.4

      In the case of overseas investment firm licenseesG , prior approval is required for controlled functionsG (b), defined as the 'Branch Manager' of the Bahrain branch (however titled by the licensee), (c), (d), (e), (f), (h) and (i). Combination of the above controlled functionsG is subject to the requirements contained in Modules HC and RM.

      Amended: October 2009
      July 2007

    • AU-1.2.5

      Approval for controlled functionG (g) is required for all investment firm licenseesG undertaking Islamic transactions.

      Amended: October 2009

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