Instruction No. 13/2025 of the Bank of Portugal came into force on 16 October, introducing changes to the authorisation regime for the exercise of functions by members of the management and supervisory bodies of institutions under its supervision. This revision, which focuses on Instruction No. 23/2018, is the result of experience gained in recent years and concerns expressed by the sector regarding the speed, clarity and simplification of procedures, with a view to enhancing efficiency and alignment with European legislation and regulation, promoting greater harmonisation of processes at European level.
Main highlights:
Simplification and exemption of elements for reappointed members
The new instruction introduces the possibility of waiving and simplifying the documentation required for reappointed members, namely the questionnaire on suitability, qualifications, availability, independence and conflicts of interest, provided that there have been no significant changes since the last authorisation request. This measure, which already applies to institutions under the supervision of the Bank of Portugal, may be extended to significant institutions under the direct supervision of the European Central Bank (ECB), in line with the transposition of Directive (EU) 2024/1619 of the European Parliament and of the Council of 31 May 2024 (CRD VI).
New deadlines for submitting applications
In order to avoid undue prolongation of mandates, the instruction establishes new deadlines for submitting authorisation applications:
i) 30 working days after the appointment decision (including reappointment) for the submission of the authorisation application;
ii) 8 months after the end of the term of office for the submission of the application, unless there is a duly justified reason accepted by the Bank of Portugal;
iii) In the case of Mutual Agricultural Credit Banks integrated into the Integrated Mutual Agricultural Credit System (SICAM), the 30 working day deadline begins after the Central Bank issues its opinion, with a maximum limit of 10 months after the end of the term of office.
Assessment of suitability
The new instruction restricts the obligation to report judicial or administrative proceedings to those which, due to their temporal and material context, are relevant to the suitability assessment. Ongoing proceedings that reveal evidence of direct involvement by the candidate or that may have a material impact on the assessment of their suitability must be reported, as well as proceedings concluded less than 10 years ago that meet the same criteria. The obligation to report any concluded proceedings, regardless of the time elapsed, remains in place whenever the responsibility or direct involvement of the person concerned has been established.
Updating of questionnaires
In addition, a new structure for the questionnaire on suitability, qualifications, availability, independence and conflicts of interest has been proposed to facilitate digital completion and reading, with detailed instructions and mandatory fields.
The institutions' internal validation list has also been updated, reinforcing the quality control of the processes submitted by the institutions.
Strengthening compliance and data protection requirements
The declaration of compliance with the duty to provide information on the processing of personal data has been updated to include:
- Data sharing with the European Supervisory Authorities Information System;
- Possibility of recording personal interviews by Banco de Portugal, when justified;
- Collection of data for statistical and research purposes, always in an anonymised form;
- Exclusion of automated individual decisions;
- Certified photocopy of identification document must be submitted.
Transitional regime and entry into force
Instruction No. 13/2025 came into force on the day following its publication and applies to new applications submitted from that date onwards. In the case of institutions whose members of the management and supervisory bodies' terms of office ended before the Instruction came into force, the 8- and 10-month deadlines for submitting applications for authorisation to perform duties are counted from the date of its entry into force.
