CBB Proposes Rules on Robo-Advice by Banks and Investment Firms

The proposed rules will be incorporated in the following modules in Rulebook Volumes 1 and 2:

• Revision to Licensing Requirements Module (Module LR)
• New Digital Financial Advice Module (Module DA)
• Additions to Glossary for both Volumes

The proposed rules will be incorporated in the following modules in Rulebook Volume 4:

• Revision to Authorization Module (Module AU)
• New Digital Financial Advice Module (Module DA)
• Addition of a section on Cyber Security Risk Measures under Risk Management Module (Module RM). The proposed new section on Module RM will apply to all investment firm licensees.
• Addition to Glossary of Volume 4

Related Links

• Consultation Letter for Proposals in Volume 1 and 2
• Consultation Letter for Proposals in Volume 4
• Consultations Page

Comment Due Date: February 20, 2019 (Volumes 1 and 2); February 21, 2019 (Volume 4)

Keywords: Middle East and Africa, Bahrain, Banking, Securities, Islamic Banking, Regtech, Digital Finance Advice, Robo-advice, CBB