If you are aware of facts, evidence or information about infringements that have already been practiced or that carry a high probability of being practiced, or are being executed, due to the breach of the rules set out in the Securities Code and its regulations, the breach of the duties via other national or EU laws on market abuse, you may communicate said to the CMVM.

Reporting made to the CMVM shall contain, whenever possible or applicable, a detailed explanation of the possible infraction, including information on dates, identification of the persons and entities involved. It should also be supported, if possible, by documentation.

This area is aimed, in particular, for individuals with specific knowledge about how reported entities function internally, for example, because they are employees of the entity or have some type of contractual relationship with the entity (framework envisaged under articles 368/A to 368/E of the Portuguese Securities Code).

Channels for presenting information and evidence  
  • In person

In Lisboa, Rua Laura Alves, n.º 4, between 09h30 and 17h00, provided that it has been previously scheduled with the Investigation Department (via telephone +351 213 177 000, with the express indication that the intent is to contact the Investigation Department and that the contact is CONFIDENTIAL). 

  • Via registered post

CMVM – Investigation Department (envelope should be marked ‘CONFIDENTIAL’)

Rua Laura Alves, n.º 4

P.O. BOX 14258

1064-003 Lisbon


  • Via electronic mail



Protection of identity and confidentiality


You may provide information, evidence and facts regarding possible infringements relating to the market abuse framework, on an anonymous basis or by identifying yourself.

The CMVM encourages participants to provide at least one means whereby they can be contacted at a later date if this proves necessary in the course of the investigations, notwithstanding the possibility of submitting anonymous reports.

Depending on the content of each complaint, the CMVM may request additional elements and information from the complainant in order to obtain clear and complete knowledge of the exposed situation.

If you wish to remain anonymous, you should not submit any personal information or other information that allows for any type of identification.


Employee Protection


The CMVM ensures the confidentiality of the identity of the complainant at any time or until such time as this information is required in order to safeguard the right of defence of those targeted by the complaint, in the context of the investigations to which it gives rise or of the subsequent legal proceedings.

Persons who provide information under this framework concerning issues relating to market abuse, are not considered to be infringing any restriction on the transmission of information imposed by contract or by any legislative, regulatory or administrative provision and should thus not be liable for said reporting. (i.e. disciplinary liability).


Procedures for receiving information, evidence and complaints 


The CMVM gives you written notice of the receipt of information, evidence or complaints, in electronic format or by letter, if you have provided a contact for said purpose, except in situations where you have expressly stated otherwise or it is foreseeable that such communication may hinder your anonymity.

All complaints must be made in good faith and with reasonable grounds.

Without prejudice to possible criminal liability, reporting information, facts or sending evidence to the CMVM that is false,​ constitutes a very serious administrative infraction.

If the facts, evidence or information disclosed concern infractions within the possible jurisdiction of other entities, the CMVM informs you of this - whenever possible - and you will then be responsible for sending the information to the competent authority. If this is not possible, the CMVM may send the information communicated to any other entity with whom it has legal relations of collaboration or cooperation.​