Regulatory AlertsAdded · Updated
Notice No. 6/2021
This Notice repeals Notice No. 5/2010 and updates the framework for prior communications regarding the acquisition, increase, or reduction of qualifying holdings in credit institutions and payment service entities. It establishes detailed requirements for the elements and information that proposed acquirers, sellers, and beneficial owners must submit to the Banco de Portugal, including specific declarations and strategic guidelines based on holding thresholds. The regulation also defines formal requirements for documents, allows for the use of English in procedures involving the European Central Bank, and sets out conditions for exemptions from submitting certain elements. The provisions apply to all natural and legal persons involved in qualifying holding transactions under the RGICSF and RJSPME frameworks.
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