Regulatory Alerts2007-01-03
Regulation (NAP) – Norm on Supervisory Action and Application of Penalties
The Central Bank of São Tomé and Príncipe issued this Permanent Application Norm to establish a unified framework for supervisory actions and penalty enforcement across all supervised financial institutions. It defines the scope, instruments, and disciplinary powers of the Supervision Directorate, detailing specific warnings, directives, fines, and accessory sanctions for offenses ranging from minor procedural breaches to especially serious violations. The regulation mandates a structured administrative procedure with clear notification, defense, and judicial challenge timelines, while imposing automatic graduated fines for late information submissions and reserving the authority to revoke operating licenses for repeated or severe non-compliance.