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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Circular Letter No. CC/2020/00000041
Sent to:
Credit Institutions; Payment Institutions; Electronic Money Institutions; Investment Companies and Financial Companies.
Mod. 99999924/T – 01/14
Subject: Cessation of flexibility measures regarding complaint handling

Through Circular Letter No. CC/2020/00000017, the Banco de Portugal adopted measures to relax regulatory and supervisory requirements, including the extension of deadlines for handling complaints in the situations identified in said Circular Letter.

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Lineage: In force

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Timeline

This document supersedes: Circular Letter No. CC/2020/00000017: Regulatory and Supervisory Flexibility Measures for COVID-19 Contingency Relief

Source: Banco de Portugal — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works