News BdP Notice Project on Information Reporting 02/03/2022

Bank of Portugal (BdP) has submitted the draft Notice to regulate the registration, reporting and frequency of information to be provided by notaries, solicitors and lawyers, for the purposes of Law 78/2021, of 24 November (Law), which establishes the regime for preventing and combating unauthorized financial activity and protecting consumers. There is therefore a duty to report to the BdP the intervention of notaries, solicitors and lawyers in legal acts that may contribute to the exercise of unauthorized financial activity, until the end of the month of the practice of the legal act subject to the report, being the responsibility of the respective professional bodies proceed to send the information to the BdP by the end of the following month.

The draft notice is under public consultation until April 11, 2022.

You can consult the text of the Notice subject to public consultation here, or click on the link to the respective BdP page.

Any electronic communications due from March 1, 2022 - pursuant to paragraph 5 of article 4 of the Law - must be sent by notaries, solicitors and lawyers to the email address "reporte_lei78_2021@bportugal.pt", filling in the Excel file available on the BdP page and send it with "Electronic Communication - Law 78/2021, of 24 November" in subject.

This reporting model is provisional in nature, intended to cover the period between the entry into force of the reporting duty and the entry into force of the BdP Notice, whose project is under Public Consultation under 2/2022.