Notice No. 3/2024

Published in: Official Journal, 2nd Series, Part E, No. 108, of 05-06-2024 Mod. 99999939/T – 01/14

Index

Text of the Notice

Text of the Notice

On June 6, 2022, Notice No. 1/2022 of the Bank of Portugal was published (“Notice No. 1/2022”), a regulation that replaced Notice No. 2/2018 of the Bank of Portugal, of September 26 (“Notice No. 2/2018”), and Instruction No. 2/2021, of February 26, and which regulates the provisions of Law No. 83/2017, of August 18 (“Law No. 83/2017”), in the context of the activities of financial entities subject to the supervision of the Bank of Portugal in the field of preventing money laundering and terrorist financing (“AML/CFT”).

Article 83 of Notice No. 1/2022 provides for the obligation of said financial entities to send annually to the Bank of Portugal a specific report on their internal control system and other informative elements for the prevention of AML/CFT (hereinafter abbreviated as “RPB”), under the terms and according to the model to be defined by Instruction.

In line with the concerns conveyed by the sector, in order to allow for the coordination between the various reporting obligations to which financial entities are subject, this Notice amends paragraph 2 of Article 83 of Notice No. 1/2022, now providing that the maximum deadline for submitting the RPB is March 31. This Notice also amends paragraph 3 of the same article, by revoking sub-paragraph m), insofar as it is considered that the information regarding the specific procedures implemented by financial entities to comply with Regulation (EU) 2015/847 and deficiencies detected in its execution, is already integrated into the context of the information transmitted under sub-paragraphs i) and j), respectively, of the same regulation.

This Notice was subject to public consultation, in accordance with Article 101 of the Administrative Procedure Code.

Thus, in the exercise of the competence conferred upon it by Article 17 of its Organic Law, approved by Law No. 5/98, of January 31, by Article 94, by sub-paragraph b) of paragraph 2 of Article 95, both of Law No. 83/2017, of August 18, by Article 27 of Law No. 97/2017, of August 23, and by Articles 30-B and 33-A of the General Regime of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92, of December 31, all in their current wording, the Bank of Portugal determines:

Article 1.

Object

This Notice amends Notice No. 1/2022 of the Bank of Portugal, of June 6.

Article 2.

Notice No. 1/2022 of the Bank of Portugal, of June 6

Article 83 of Notice No. 1/2022 of the Bank of Portugal, of June 6, shall have the following wording:

Article 83

Report on the prevention of money laundering and terrorist financing

1. […]

2. The reporting referred to in the previous paragraph is sent to the Bank of Portugal by March 31 of each year, relating to the period between January 1 and December 31 of the previous year, and follows the model to be defined by Instruction, which will also specify the terms of its submission.

3. […]

a) […]

b) […]

c) […]

d) […]

e) […]

f) […]

g) […]

h) […]

i) […]

j) […]

k) […]

l) […]

m) (Revoked)

n) […]

o) […]

p) […]

q) […]

4. […]

5. […]

Article 3.

Entry into force

This Notice enters into force the day following its publication.