Bahrain Bourse issues amendments to its Listing Rules

Manama, Apr. 6 (BNA): Bahrain Bourse (BHB) has issued amendments to the Listing Rules to strengthen further the regulatory oversight.


The move is part of the BHB's continuous efforts to develop the Capital Market in Bahrain, and in pursuance of Central Bank of Bahrain Resolution 11 of 2018 for the implementation of the Self-Regulatory Organization (SRO).


“The new enhancements aim to ensure further strengthening of the regulatory oversight regime, which is yet another step towards greater market transparency and investor confidence within the capital market in the Kingdom of Bahrain," BHB Chief Executive Officer Shaikh Khalifa bin Ebrahim Al Khalifa said.


“The enhancements introduced are crucial to ensure continued investor confidence as further administrative powers are imposed on issuers."


The current amendments to the Listing Rules includes the establishment of the Violations Committee to review and evaluate high-frequency violations and determine penalties to be imposed on listed companies for non-compliance with BHB Business Rules as well as setting the timeframe for settling those violations.

The Listing Rules enhancements also include establishment of a Disciplinary Appeals Committee, to allow listed companies to appeal on violations imposed.

The enhancements to the Listing Rules include new disclosure templates in the Listing Rules Guideline to govern credit rating announcements, dividend distribution timeline, and accumulated losses. 




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