Regulatory Alerts2022-10-19
Added · Updated
Circular Letter No. CC/2022/00000024
Credit institutions, financial societies, payment institutions, and electronic money institutions with a seat or branch in Portugal must subscribe to the "Credit Intermediaries / Correspondence" service on the BPnet portal if they have binding contracts with credit intermediaries or provide credit intermediation services without acting as lenders. Starting December 1, 2022, these institutions must use this service for all supervisory information requests and communications regarding credit intermediation and consultancy, including events affecting access requirements, member suitability, and contract terminations. The compliance function head and relevant internal structure heads must be service users, while correspondence related to complaints and specific credit intermediation notifications under Article 33(1) remains subject to separate existing services.
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