Regulatory Alerts2018-11-29
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Notice No. 10/2018 of 29 November on Delays in Periodic Information Submission
The National Bank of Angola issued Notice No. 10/2018 to establish the sanctioning procedure for financial institutions and responsible entities that delay the submission of periodic information. The notice classifies such delays as punishable offences under the Basic Law of Financial Institutions and mandates the application of a settlement procedure for sanctions. Furthermore, it grants the central bank authority to initiate ordinary offence proceedings and impose ancillary sanctions on repeat offenders while revoking prior conflicting regulations.
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