Regulatory Alerts2016-09-30
Added
Notice of the Bank of Portugal No. 8/2016
Institutions supervised by the Bank of Portugal and other authorized payment service providers must register and communicate payment service operations where the beneficiary is located in an offshore jurisdiction. This Notice specifies that operations with a unitary value of 15,000 euros or more, or aggregated operations reaching this threshold, must be reported quarterly to the Bank of Portugal via the BPnet system. It defines "offshore jurisdiction" and other key terms, and revokes Instruction No. 17/2010, with new technical specifications to be issued before its entry into force.
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