transposition of Directive (EU) 2019/2034, of the European Parliament and of
the Council, of 27 November 2019, on the prudential supervision of investment
firms was carried out in Portugal via Decree-Law No. 109-H/ 2021 of 10 December
2021, which also approved the Investment Firms Regime. The Investment Firms
Regime came into force on 1 February 2022 and designated the Portuguese
Securities Market Commission (CMVM) as the competent authority to supervise,
inspect and enforce the rules on prudential requirements and prudential
supervision of investment firms.
Investment firms operating in Portugal on the date of publication of Decree-Law No. 109-H/2021, have three and six months, after the date of entry into force, to, respectively, change their corporate name and adapt their internal policies and statutes to comply with the provisions of the Investment Firms Regime, including adjusting the respective share capital to the minimum share capital provided (as needed). Thus, full adaptation to the new regime must be made by 1 August 2022.
provided for in the Investment Firms Regime, namely those provided for in
article 130, will be regulated by the CMVM. The CMVM Regulation, which also
includes the implementation of the duties of regular reporting of information,
including information deadlines, format, and content, has not yet been
Given that the
Investment Firms Regime only came into force on 1 February 2022 and that the
CMVM Regulation, which implements, in particular, regular reporting duties to
the CMVM has not been published yet, part of the information provided for in the Annexes to the Commission Implementing Regulation
(EU) 2022/389 of 8 March 2022 cannot be completed at this time.