Regulatory Alerts2021-11-30
Added · Updated
Circular Letter No. CC/2021/00000057
The document informs credit institutions that the European Banking Authority's Guidelines on internal governance (EBA/GL/2021/05) will enter into force on 31 December 2021, replacing the 2017 version. Institutions are required to adopt necessary measures to implement new requirements regarding internal governance and risk management systems to comply with these guidelines by the effective date. The Bank of Portugal notes that most changes, particularly those concerning conflicts of interest and related parties, were already anticipated by its own Notice No. 3/2020, which remains applicable as a complement to the new guidelines.
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