Regulatory Alerts2020-02-17
Added · Updated
Instruction (Historical) No. 5/2020
The Bank of Portugal amends Instruction No. 19/2012 to align reporting requirements for payment systems and instruments with the Revised Payment Services Directive (DSP2) and EBA guidelines on fraud data. The updated rules define specific reporting deadlines for payment service providers and relevant payment system entities, establish procedures for delegating reporting to third parties, and set strict limits and justification requirements for data revisions. Non-compliance with these reporting obligations is explicitly classified as an infraction punishable under the General Regime of Investment Companies and Financial Institutions (RGICSF) and the Legal Regime of Payment Services and Electronic Money (RJSPME).
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