Regulatory Alerts2022-03-08
Added · Updated
Proposed Amendments to the Regulations Concerning Crowdfunding
The Central Bank of Bahrain has issued proposed amendments to its financing-based and equity crowdfunding regulations to better accommodate prevailing business models. These updates modify authorization, general, and market requirements across Modules AU, GR, and MAE in Volumes 5 and 6 of the CBB Rulebook. Regulated participants must submit their electronic feedback, including nil responses, by 8 March 2022.
مكتب المحافظ
Office of the Governor
مصرف البحرين المركزي
Central Bank of Bahrain
OG/83/2022
23<sup>rd</sup> February 2022
Chief Executive Officer
Participants of the Regulatory Sandbox
CBB Crowdfunding License Applicants
Law Firms
Audit Firms
Manama
Kingdom of Bahrain
Dear Sir/ Madam,
Consultation: Proposed Amendments to the Regulations Concerning Crowdfunding
As part of the CBB’s objective to further enhance its regulatory framework, the CBB is issuing proposed amendments to the regulations relating to financing-based and equity crowdfunding to cater to business models prevalent in this relatively new type of regulated activity. Accordingly, certain amendments have been proposed to the related requirements in different Modules of the CBB Rulebook Volumes 5, (Type 7: Ancillary Service Providers) and to Volume 6, Capital Markets.
The proposed amendments attached have been incorporated in the relevant Modules listed below:
- Authorisation Module (Module AU) – Volume 5;
- General Requirements Module (Module GR) – Volume 5; and
- Markets and Exchanges Module (Module MAE)- Volume 6.
The proposed requirements shall be available on the CBB website (www.cbb.gov.bh) under the “Open Consultations” Section.
The CBB requests you to provide your comments, including “nil comments” on the proposed requirements.
Responses must be sent electronically, in an editable format, to consultation@cbb.gov.bh, by 8<sup>th</sup> March 2022.
Yours faithfully,
Rasheed M. Al Maraj
Governor
ص.ب: 77، المنامة - مملكة البحرين
هاتف: (+973) 17052760 - فاكس: (+973) 17057789
P.O. Box : 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547500 - Fax: (+973) 17537799
website: www.cbb.gov.bh
E-mail: governor@cbb.gov.bh
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