Why is JBoss EAP 6 throwing a javax.naming.NameNotFoundException: policyRegistration exception?

Issue

Why is JBoss EAP 6 throwing a javax.naming.NameNotFoundException: policyRegistration exception?

15:22:02,176 DEBUG [org.jboss.security] (http-localhost/127.0.0.1:8080-1) PBOX000293: Exception caught: javax.naming.NameNotFoundException: policyRegistration -- service jboss.naming.context.java.policyRegistration
    at org.jboss.as.naming.ServiceBasedNamingStore.lookup(ServiceBasedNamingStore.java:97)
    at org.jboss.as.naming.NamingContext.lookup(NamingContext.java:179)
    at org.jboss.as.naming.InitialContext.lookup(InitialContext.java:119)
    at org.jboss.as.naming.NamingContext.lookup(NamingContext.java:215)
    at javax.naming.InitialContext.lookup(InitialContext.java:411) [rt.jar:1.7.0_11]
    at org.jboss.security.plugins.javaee.EJBAuthorizationHelper.getPolicyRegistrationFromJNDI(EJBAuthorizationHelper.java:353) [picketbox-4.0.14.Final-redhat-2.jar:4.0.14.Final-redhat-2]
    at org.jboss.security.plugins.javaee.EJBAuthorizationHelper.authorize(EJBAuthorizationHelper.java:303) [picketbox-4.0.14.Final-redhat-2.jar:4.0.14.Final-redhat-2]
    at org.jboss.as.security.service.SimpleSecurityManager.authorize(SimpleSecurityManager.java:252) [jboss-as-security-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.as.ejb3.security.AuthorizationInterceptor.processInvocation(AuthorizationInterceptor.java:112) [jboss-as-ejb3-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ejb3.security.SecurityContextInterceptor.processInvocation(SecurityContextInterceptor.java:76) [jboss-as-ejb3-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ejb3.component.interceptors.ShutDownInterceptorFactory$1.processInvocation(ShutDownInterceptorFactory.java:42) [jboss-as-ejb3-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ejb3.component.interceptors.LoggingInterceptor.processInvocation(LoggingInterceptor.java:59) [jboss-as-ejb3-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ee.component.NamespaceContextInterceptor.processInvocation(NamespaceContextInterceptor.java:50) [jboss-as-ee-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ejb3.component.interceptors.AdditionalSetupInterceptor.processInvocation(AdditionalSetupInterceptor.java:32) [jboss-as-ejb3-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ee.component.TCCLInterceptor.processInvocation(TCCLInterceptor.java:45) [jboss-as-ee-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.invocation.ChainedInterceptor.processInvocation(ChainedInterceptor.java:61) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ee.component.ViewService$View.invoke(ViewService.java:165) [jboss-as-ee-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.as.ee.component.ViewDescription$1.processInvocation(ViewDescription.java:181) [jboss-as-ee-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]
    at org.jboss.invocation.InterceptorContext.proceed(InterceptorContext.java:288) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.invocation.ChainedInterceptor.processInvocation(ChainedInterceptor.java:61) [jboss-invocation-1.1.1.Final-redhat-2.jar:1.1.1.Final-redhat-2]
    at org.jboss.as.ee.component.ProxyInvocationHandler.invoke(ProxyInvocationHandler.java:72) [jboss-as-ee-7.1.3.Final-redhat-4.jar:7.1.3.Final-redhat-4]