Circular Letter No. CC/2025/00000012

The document formally terminates the validity of Circular Letter No. 018/97/DSB, which previously required credit institutions and financial companies to report the identity of their Secretary to the Bank of Portugal. This repeal is based on the determination that such information is already publicly accessible and unnecessary for financial system transparency and control purposes. Consequently, the specific reporting obligation for the Secretary's identity and subsequent changes is removed for the affected institutions.

BDP published 1 document in the last 30 days — get each new one by email the day it lands.

Circular Letter No. CC/2025/00000012
Sent to:
Credit Institutions and Financial Companies.
Mod. 40000375/T – 01/14
Subject: Cessation of validity of Circular Letter No. 018/97/DSB, of April 22

Circular Letter No. 018/97/DSB, of April 22, requests that institutions covered by Article 446-A of the Commercial Companies Code, as amended by Decree-Law No. 257/96, of December 31, send to the Bank of Portugal information regarding the identity of the holder of the position of Secretary, as well as any subsequent changes.

The experience gained by the Bank of Portugal since its publication has been that information regarding the identity of the holder of the position of Secretary of the covered institutions, being information accessible to the public, is not necessary for the purposes of transparency and control of the financial system that underpinned its respective publication. This is evidenced by the fact that the legislator chose not to include such a figure in the list of elements subject to special registration, as provided for in Article 66 of the General Regime of Credit Institutions and Financial Companies.

Thus, for reasons of transparency towards the respective recipients and the general public, the cessation of validity of Circular Letter No. 018/97/DSB, of April 22, is expressly and unequivocally communicated.

Read the rest free

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

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