Interlegal News Update - October 2017 - Bearer Securities in Portugal

Abstract

In accordance with recent directives from the European Union, Portugal has approved new laws aimed at fighting money laundering and the financing of terrorism. At the corporate law level, it has introduced changes to the Securities Code and the Commercial Companies Code which, in effect, will end the anonymity of bearer securities (including shares and bonds) in what is truly a paradigm shift. In this newsletter we will succinctly address these changes and the process that brings it about.