Brexit - Contingency Measures Update

Following our flash dated of 30 September 2019 on the contingency measures on the financial sector in the case of Brexit, the Decree-Law nr. 147/2019 of 30 September (the Contingency Act) was further complemented with a FAQ document made available on 30 January 2020 by the Portuguese securities regulator (the CMVM) in its official website, and the Regulation 1/2020 enacted by the Portuguese banking regulator (Bank of Portugal).

We analyse the Contingency Act, as further complemented by the documentation enacted by the regulators.