Bank of Portugal: Regulation 1/2020

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Bank of Portugal: Regulation 1/2020

Bank of Portugal’s Notice has published Regulation 1/2020

This Regulation establishes, pursuant to article 8 of Decree-Law 147/2019, of 30 September (which approved a series of contingency measures for the financial sector in the event of Brexit without agreement), the terms of the notification to Bank of Portugal, that shall be made through a specific form, by entities wishing to benefit from the transitional and contingency regime that will last until 31 December 2020, relating to contracts signed by credit institutions, payment institutions and electronic money institutions.

To benefit from this transitional regime, entities must notify Bank of Portugal of its intention to continue to perform its activity in Portugal, within three months after the Brexit date, i.e. until 30 April 2020.

Nuno Nogueira Pinto

Nuno Nogueira Pinto

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