Regulatory Alerts2020-06-18
Added · Updated
Circular Letter No. CC/2020/00000041: Cessation of Flexibility Measures Regarding Complaint Handling
The Banco de Portugal ends temporary regulatory flexibility measures for complaint handling, requiring credit institutions, payment institutions, electronic money institutions, investment companies, and financial companies to resume standard response deadlines effective July 1, 2020. Specifically, institutions must respond to customers within 20 working days for complaints submitted directly to the central bank and provide additional information requested by the central bank within 3 working days. These obligations revert to the standards set in Circular Letters No. 25/2008/DSB and No. 6/2008/DSB following the lifting of emergency state limitations.
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