CMVM Regulation on Anti-Money Laundering and Counter-Terrorist Financing

The CMVM has published Regulation No. 5/2025, which amends Regulation No. 2/2020, of 17 March, concerning the prevention of money laundering and terrorist financing (AML/CFT).

The key changes include:

– Crowdfunding service providers are now treated as entities equivalent to obliged entities, and are therefore subject to reporting obligations to the CMVM;

– Stricter requirements regarding the content of the reporting under Annex I, covering key areas such as internal control systems, clients, counterparties, emerging risks, and financial operations;

– New deadline for annual reporting, now set for 31 March of each year;

– Replacement of the file format from “.dat” to “.xml”, enabling better data structuring and greater reliability.

The first report under the new rules must be submitted by 30 June 2026, referring to data from the 2025 reporting period.

Click here to access the new Regulation (only available in Portuguese).

For more information, please contact us at rvr@ccsllegal.com

[Photo by: Josh Appel, available at unsplash.com]