Regulatory Alerts2021-07-28
Added
Instruction No. 11/2021
The Bank of Portugal amends Instruction No. 1/2017 to align with EU Regulation 2019/876 by restricting its scope to credit institutions and removing investment firms, which are now subject to separate legislation. The instruction revokes Instructions No. 28/2014, No. 5/2018, and No. 20/2019, as EU Regulation 2021/637 now directly establishes the technical standards for public disclosures under Pillar 3. It also updates internal processes for assessing disclosure exemptions and materiality within Instruction No. 1/2017. These changes enter into force the day after publication.
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