Regulatory Alerts2020-07-05
Instruction No. 12/2020, of July 6
The Bank of Angola issued Instruction No. 12/2020 to standardize the composition, structure, and disclosure requirements for financial institutions' price lists. It mandates that supervised entities submit two distinct fee schedules—covering particular and other clients—along with precise filling instructions, standardized file naming conventions, and quarterly reporting deadlines to the Financial Conduct Department. Non-compliance triggers penalties under the Framework Law for Financial Institutions, while the Bank retains authority to resolve interpretative doubts and revoke conflicting prior regulations.
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