The curated handbook for Portugal is in review. The obligation register below accounts for the retained units described in its scope statement.
16 retained records are accounted for within this scope. The default view shows only mapped obligations; use the disposition filter to inspect mapped, contextual, outside-scope and unresolved retained records. This register does not establish full-instrument or complete national coverage.
Lei 83/2017 (2020 financial chapter)
Lei 83/2017: complete financial-sector Chapter V and Annexes I–III, official 2020 republication
Assembleia da República / Diário da República
Official 2020 republication; later legal effect unverified
16 provisions accounted for · 16 independently reviewed
Lei 83/2017 (2020 financial chapter) · Artigo 62.ºFinancial entities must apply the general preventive duties as well as the financial-sector modifications and their own sectoral rules.…Credit institutionFinancial institution+3Obligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
Financial entities must apply the general preventive duties as well as the financial-sector modifications and their own sectoral rules. Chapter V is an additional layer, not a substitute for Chapter IV; this cross-reference does not itself reproduce those general duties or establish which regulator rules apply to a particular firm.
Obligation
Financial entities must apply the general preventive duties as well as the financial-sector modifications and their own sectoral rules.
Financial entity activity governed by this law; read with Chapter IV and applicable sectoral regulation.
Exceptions
No exemption stated here; financial-sector specifications qualify the general duties.
Lei 83/2017 (2020 financial chapter) · Artigo 62.º-AA financial entity applying the third-country group rules in Article 22(4) and (7) must also follow the specified EU…Credit institutionFinancial institution+3Obligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
A financial entity applying the third-country group rules in Article 22(4) and (7) must also follow the specified EU delegated-regulation procedures. The additional measures and authority communications must meet Articles 3–8 of that regulation, while other risk-appropriate safeguards and sectoral requirements remain possible. This article does not supply the external procedures or permit ignoring local-law obstacles.
Obligation
A financial entity applying the third-country group rules in Article 22(4) and (7) must also follow the specified EU delegated-regulation procedures.
The circumstances covered by Article 22(4) or (7); consult the cited EU regulation for the procedural content.
Exceptions
Other risk-appropriate supplementary safeguards and sectoral rules are not displaced.
Lei 83/2017 (2020 financial chapter) · Artigo 63.ºA financial entity cannot confine its preventive-duty controls to customer business: own-account deals and dealings for noncustomer…Credit institutionFinancial institution+3Obligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
A financial entity cannot confine its preventive-duty controls to customer business: own-account deals and dealings for noncustomer third parties are covered on the terms and extent set by sectoral rules. Intragroup transactions outside a customer relationship are expressly included. The article does not fix all procedural detail independently of that regulation.
Obligation
A financial entity cannot confine its preventive-duty controls to customer business: own-account deals and dealings for noncustomer third parties are covered on the terms and extent set by sectoral rules.
Transactions and counterparties described in paragraphs 1–2, including intragroup dealings outside customer relationships; extent fixed by sectoral regulation.
Exceptions
No intragroup exemption is stated; procedural terms and extent depend on the applicable sectoral rules.
Lei 83/2017 (2020 financial chapter) · Artigo 64.ºFinancial entities must not offer or maintain anonymous accounts, passbooks or safe-deposit boxes, or use fictitious names. Anonymous…Credit institutionFinancial institution+3Obligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
Financial entities must not offer or maintain anonymous accounts, passbooks or safe-deposit boxes, or use fictitious names. Anonymous electronic-money payments and prepaid instruments are also prohibited, but paragraph 2 expressly allows a contrary sectoral rule to the extent it provides. That qualification must not be borrowed to create an anonymous-account exception under paragraph 1.
Obligation
Financial entities must not offer or maintain anonymous accounts, passbooks or safe-deposit boxes, or use fictitious names.
Anonymous passbooks, boxes or accounts, fictitious names, or anonymous electronic-money payments/prepaid instruments.
Exceptions
Only paragraph 2 is qualified by contrary sectoral regulation; no such carve-out is written into paragraph 1.
Lei 83/2017 (2020 financial chapter) · Artigo 65.ºIf a financial entity opens an account using the deferred-verification possibilities in Articles 26(3) and 32(5), it must keep…Credit institutionFinancial institution+3Obligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
If a financial entity opens an account using the deferred-verification possibilities in Articles 26(3) and 32(5), it must keep transactions, payment instruments and ownership changes blocked until both customer and beneficial-owner identity checks are complete under the applicable rules. Opening an account is not permission to let it operate while verification remains outstanding.
Obligation
If a financial entity opens an account using the deferred-verification possibilities in Articles 26(3) and 32(5), it must keep transactions, payment instruments and ownership changes blocked until both customer and beneficial-owner identity checks are complete under the applicable rules.
Use of Article 26(3) and Article 32(5) possibilities when opening an account; verification of both identities remains outstanding.
Exceptions
The block ends only once identity is verified under the applicable law or regulation; this unit states no other exception.
Lei 83/2017 (2020 financial chapter) · Artigo 66.ºA financial entity must reject direct shell-bank correspondence and take steps to avoid indirect access through a financial counterparty…Credit institutionFinancial institution+3Obligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
A financial entity must reject direct shell-bank correspondence and take steps to avoid indirect access through a financial counterparty known to let shell banks use its accounts. Discovery of an existing relationship of either kind triggers termination and immediate notification of the sectoral authority. This is not a prohibition on every foreign bank, and the indirect case depends on the specified knowledge.
Obligation
A financial entity must reject direct shell-bank correspondence and take steps to avoid indirect access through a financial counterparty known to let shell banks use its accounts.
Direct shell-bank correspondence or correspondence with entities known to permit shell-bank use; discovery of an existing relationship triggers paragraph 3.
Exceptions
No exception is stated for a relationship meeting these criteria; a foreign-bank relationship is not automatically a shell-bank relationship.
Lei 83/2017 (2020 financial chapter) · Artigo 67.ºThe SICAM credit banks must organise their preventive controls with Caixa Central and supply it the necessary information despite…Credit institutionObligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
The SICAM credit banks must organise their preventive controls with Caixa Central and supply it the necessary information despite secrecy duties. Sectoral rules may let Caixa Central perform some or all duties on their behalf and determine whether liability is exclusive or shared. An ordinary bank outside SICAM cannot use this provision as a general outsourcing or liability-transfer permission.
Obligation
The SICAM credit banks must organise their preventive controls with Caixa Central and supply it the necessary information despite secrecy duties.
Collect information
Applies to
Firm types
Credit institution
Business lines
All business lines
Customer types
All customer types
Stages
All stages
Conditions
Membership in SICAM; any central performance and liability allocation must follow sectoral regulation.
Exceptions
Central performance may be whole or partial, but is not an automatic release of each CCAM from liability.
Lei 83/2017 (2020 financial chapter) · Artigo 68.ºFor life insurance, financial entities collect named-beneficiary details or enough category-based information as soon as the beneficiary…Financial institutionObligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
For life insurance, financial entities collect named-beneficiary details or enough category-based information as soon as the beneficiary is identified or designated; identity verification is due by payout. If an obliged entity learns of an assignment, it must identify and verify the beneficial owners at assignment to the assignee receiving the value for their own benefit. These are life-insurance controls, not a rule that all investment customers can wait until payout for verification.
Obligation
For life insurance, financial entities collect named-beneficiary details or enough category-based information as soon as the beneficiary is identified or designated; identity verification is due by payout.
Collect informationVerify
Applies to
Firm types
Financial institution
Business lines
All business lines
Customer types
All customer types
Stages
All stages
Conditions
Beneficiary identified or designated; verification by payout; known total or partial assignment to an assignee receiving value for own benefit.
Exceptions
Category-based designation changes the information gathered, not the requirement to establish identity at payout; Articles 29–34 govern assignment checks.
Lei 83/2017 (2020 financial chapter) · Artigo 69.ºLife-insurance entities must treat the beneficiary as a risk factor, enhance checks for higher-risk legal-person or arrangement…Financial institutionObligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
Life-insurance entities must treat the beneficiary as a risk factor, enhance checks for higher-risk legal-person or arrangement beneficiaries, and make reasonable PEP checks by payout or assignment. A PEP finding combined with higher risk triggers senior-management information before capital payment and enhanced scrutiny of the policyholder relationship for reportable transactions. The text says inform management, not obtain its approval, and does not make every PEP finding alone sufficient for paragraph (d).
Obligation
Life-insurance entities must treat the beneficiary as a risk factor, enhance checks for higher-risk legal-person or arrangement beneficiaries, and make reasonable PEP checks by payout or assignment.
AssessVerify
Applies to
Firm types
Financial institution
Business lines
All business lines
Customer types
All customer types
Stages
All stages
Conditions
Beneficiary risks; enhanced legal-person/arrangement checks on increased risk; reasonable PEP determination by payout/assignment; paragraph (d) requires PEP status and higher risks.
Exceptions
Reasonableness qualifies the beneficial-owner/PEP measures; paragraph (d) requires both predicates and calls for information, not management approval.
Lei 83/2017 (2020 financial chapter) · Artigo 72.ºAn EU-headquartered payment or electronic-money institution using Portuguese agents or distributors must ensure their full…Payment institutionE-money institutionObligation mapped
Original wording is not reproduced. Read the official source. This view contains RegCanary's reviewed analysis, not a copy of the source text.
The full translation is not reproduced. The plain-English explanation below is analysis, not a translation of the original wording.
Plain English
An EU-headquartered payment or electronic-money institution using Portuguese agents or distributors must ensure their full preventive-duty compliance, check fitness/reputation, train them and keep an updated list available immediately on request. Central-contact-point appointment is conditional: quantitative EU criteria or Banco de Portugal notifications can trigger immediate appointment, followed by identification/contact notification within 30 days. Loss of quantitative criteria must be reported and removal can be opposed within 30 days. Mandatory functions start on appointment; extra reporting functions require the risk-based supervisory determination and notified deadline. This is not an automatic contact-point requirement for every foreign firm or every branch.
Obligation
An EU-headquartered payment or electronic-money institution using Portuguese agents or distributors must ensure their full preventive-duty compliance, check fitness/reputation, train them and keep an updated list available immediately on request.
VerifyTrain staffAppoint a roleReportRetain records
Applies to
Firm types
Payment institution, E-money institution
Business lines
All business lines
Customer types
All customer types
Stages
All stages
Conditions
Head office in another EU Member State and agents/distributors operating in Portugal; central contact point on any paragraph 3 criterion/notification.
Exceptions
Contact-point appointment is conditional under paragraph 3; removal after loss of quantitative criteria remains subject to supervisory opposition and other triggers; extra functions require paragraph 7–8 action.