Regulatory Alerts2021-03-15
Instruction No. 4/2021 on the Management and Reporting of Operational and Security Risks by Payment Service Providers
The Bank of Portugal issued Instruction No. 4/2021 to establish mandatory requirements for payment service providers regarding the management and reporting of operational and security risks. The regulation applies to credit institutions, electronic money institutions, and payment institutions, requiring them to implement robust risk management frameworks and submit regular reports to the central bank. It entered into force on March 16, 2021, under the legal basis of Law No. 5/98 and Decree-Law No. 91/2018.
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