Circular Letter No. CC/2021/00000047

Summary

This Circular Letter disseminates the Revised Recommendations on Business Continuity Management (BCM), approved by the National Supervisory Board for Financial Supervision (CNSF) on September 20, 2021. These recommendations were developed jointly by the Bank of Portugal, the Insurance and Pension Funds Supervisory Authority (ASF), and the Securities and Exchange Commission (CMVM), within the framework of the Better Regulation initiative. They embody a set of generic best practices that the Board considers should be implemented and deepened by financial sector institutions. With the publication of these Recommendations, the previous BCM Recommendations of 2010, disseminated by Circular Letter No. 75/2010/DSB of December 3, 2010, cease to be in force.

Status: In force Official Journal: 9/2021 Supplement Publication Date: 07-10-2021 Issue Date: 30-09-2021 Target Audience: Investment Firms, Credit Institutions, Electronic Money Institutions, Payment Institutions, Financial Companies Descriptors: Business Continuity Management, Prudential Standards, Recovery Plan, Operational Risk, Supervision Recipients: Exchange Agencies, Banks, Central Credit Cooperative of Mutual Agricultural Credit, Mutual Agricultural Credit Savings Banks, Savings Banks, Investment Firms, Mortgage Credit Institutions, Electronic Money Institutions, Payment Institutions, Credit Financial Institutions, Other Financial Companies, Brokerage Companies, Investment Consulting Companies, Regional Development Companies, Factoring Companies, Mutual Guarantee Companies, Investment Companies, Leasing Companies, Brokerage Financial Companies, Credit Financial Companies, Microcredit Financial Companies, Wealth Management Companies, Multilateral Trading Facility Management Companies, Money or Exchange Market Mediation Companies

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