Review The Sanctions Regime In The Financial Sector Regarding Administrative And Criminal

Original Language Title: Revê o regime sancionatório no sector financeiro em matéria criminal e contra-ordenacional

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Read the untranslated law here: http://app.parlamento.pt/webutils/docs/doc.pdf?path=6148523063446f764c3246795a5868774d546f334e7a67774c336470626d6c7561574e7059585270646d467a4c316776644756346447397a4c334271624459784d6931594c6d527659773d3d&fich=pjl612-X.doc&Inline=false

Draft law n° 612X/4  ª supervision of µ s institution of PORTUGUESE COMMUNIST PARTY credit Š S Parliamentary Group draft law ° 612X/4 th supervision of µ s institutions of credit [Dà © top fifth change to the General system of µ s institutions of credit and financial companies, approved by Decree-Law No. 298/92. , 31 December; Entire duration © sima fourth change to the commercial companies CODE ³ say, approved by Decree-Law No. 262/86 Â, 2 September; Second change the law governing the application of measures for the protection of witnesses in criminal proceedings, adopted by law No. 93/99 °, July 14] preamble Considers the parliamentary group of the CFP that the events that occurred in the last decade in the national banking system â € “ especially in cases best known of the Portuguese commercial bank and Bnp-show a clear ineficià of the banking supervision that we have used in a timely manner and all the mechanisms that the prudential Regime of µ s institutions of credit and finance companies puts its provisions, in particular those listed in the article 116Â. That's right we assinalà in conclusion µ that PCP presented at recent â € œ Parliamentary Commission survey BCPâ €  case, fully inviabilizadas by the parliamentary majority the PS but listed in statement of votes then delivered.
Actually, and following of this Commission to survey and the proposals of the CFP, we have a legislative initiative aimed at strengthening the penal framework sancionatà ³ River applicable to economic and financial crime ³, increasing the prison sentences and that they continue to be converted into fines.

Although we insist that the supervision had and has the means, even in the current legal framework, which would have allowed do â € œ what should be made € , that is, use other means in their prudential supervision and act in a timely fashion to prevent a repeated occurrence of illegal acts, frauds and crimes, preventing companies, 2 shareholders and the erection of the public had been hard hit with prejuà zos hundreds or thousands of million µ ES euros, the PCP admits and face as positive improvement and reinforcement of the current legislation, so we registà the suggestion µ s made by the Governor of the Bank of Portugal on hearing held in the Committee of budget and finance, in day 11 of November of 2008, the proposed ³ sito of BPN case , and decided to present a set of proposals that give the answer is s µ s expressed concern, some of which were also already advanced by various players, during the â € œ Parliamentary Committee to survey the case BCPâ € . We believe also that such changes µ s have full place in the context of the current budget debate amental in order to enter into force on the numerous heat of 2009.

Thus, the PCP µ and proposed a change to the Criminal CODE say ³ for protection of witnesses to declare the scope of economic crimes ¢ ³ µ and financial purposes and the placement of permanent supervision teams in major banks with operations in Portugal and of teams with the same nature in all the other institution µ s credit whenever the Bank of Portugal considers it necessary , µ and the proposed grant of the credit subsidiaries and establishments â € œ shoresâ € -off is subject to authorization the price via the supervision, µ and that the proposed action µ s presented as guarantee or warrant management pass always be expensed as action ³ µ s own own to the limits imposed by article 317, paragraph 2 article Â.  of the commercial companies CODE say ³ by empowering the body the ³ of inventory management for monitoring and compliance with this standard and finally propose µ and the disclosure mandatory ³, in annex to the report ³ rivers management, business ³ cios with companies with which have relation to domain or group home and the disclosure of holders of participation µ s qualified.

In these terms, under the wrapping µ s constitutional and applicable regulations, the undersigned Members of the parliamentary group of the PCP, present the following draft law: Article 1. º change the General arrangements of µ s institutions of credit and financial corporations 3 article 116. º of the general scheme of µ s institutions of credit and financial corporations (approved by Decree-Law No. 298/92. , 31 December, with µ s changes introduced by decree-laws no  º 95/246, of September 14, n º 232/96 ', of 5 December, n. º 222/99, of July 22, n. º 250/2000, of 13 October, n. º 285/2001, of 3 November, n. º 201/2002, of 26 September, n. º 319/2002 , of 28 December, n. º 2003, 252/October 17, n° 145/2006 ', of 31 July, n. º 104/2007, of 3 April, n. º 357-A/2007, of October 31, n° 1/2008 ', from January 3, n. º 126/2008, of July 21, and n. ° 211-A/2008, of 3 November) , redacà replaced by the following: «tulo Hood III supervision section I supervision in general Article 116. ° procedures for supervision 1-[â € ...]. 2-[â € ...]. 3-Without prejuà zo the provisions of article 93, paragraph 1 Â. °, the Bank of Portugal put permanent teams in µ s institutions of credit volume more than 20000 million EUR based µ s or activity in Portugal who, in permanent dialogue with the ³ body the management of these µ s institutions, as well as with the audits that are subject , will, inter alia, all major µ s financial operations, including those relating to shareholder companies and those carried out abroad. 4-In µ s institutions of credit does not include the in the previous number, and where this is considered necessary, may, at any time, be also placed in permanà the supervision teams.» Article 2. ° addition to the general scheme of µ s institutions of credit and Financial Societies 4 is ‰ article shall be 134.  º to the General Regime of µ s institutions of credit and financial corporations (approved by Decree-Law No. 298/92., 31 December, with µ s changes introduced by decree-laws no  º 95/246, of September 14, n º 232/96 ', of 5 December, n. º 222/99, of July 22, n. º 250/2000, of 13 October, n. º 285/2001, of 3 November, n. º 201/2002 , of 26 September, n. º 319/2002 of 28 December, n. º 252/2003, of 17 October, no 145/2006 °, of 31 July, n. º 104/2007, of 3 April, n. º 357-A/2007, of October 31, n° 1/2008 ', from January 3, n. º 126/July 21, 2008 , and no ° 211-A/2008, of 3 November), with the following redacÃ: «tulo Hood III supervision section II supervision on a consolidated basis Article 134. ° (new) subsidiaries and establishments in â € œ off-€  shoreâ the grant of credit institution µ s credit based or activity in Portugal the subsidiaries and establishments in â € œ off-€  shoreâ is subject to prior via authorization of the Bank of Portugal.» Article 3. º µ s changes to the commercial companies CODE ³ say articles 316. Â, ° 323, 325.  º and 448. º of the commercial companies CODE say ³ (approved by Decree-Law No. 262/86 Â, of 2 September, with µ s changes introduced by decree-laws no °, 21 184/87 of April , n. º 280/87, of July 8, n. º 229-B/88, of 4 July, n. º 418/89, of 30 November, n. º 142-A/91, of 10 April, n° 238/91 ', of July 2, n° 225/92 ', of 21 October, n. º 20/93, of 26 January, n. º 261/95 , 3 October, n. º 328/95, of December 9, n. º 257/96, of 31 December, n. º 343/98, of November 6, n. º 486/99, of 13 November, n. º 36/2000, of 14 March, n° 237/2001., August 30, n. º 162/2002, of 11 of July , n. º 107/2003, of 4 June, n. º 88/2004, of April 20, n. º 19/2005 of 18 January, No 35/2005 °, of 17 February, n. º 111/2005, of 8 July, n. º 52/2006, of March 15 and no  º 76-A/2006, of 29 March), redacà the following of the : «tulo Hood III µ s action section III 5 µ s own action ³ own Article 316.  º Princà Pius 1-General [â € ...]. 2-subscript for, acquisition and newspaper arrests of action ³ µ s own own the subscription, acquisition or newspaper arrests of µ s action for third in his own name but on the company's behalf. 3-the title of the action µ s subscribed or purchased with violation of provisions of the previous numbers belongs to society, but the obligation of the release is on the people who have subscribed or acquired or, in the case of an increase in subscribed capital by own ³ society itself, about the members of the body of ³ administration. 4-[â € ...]. 5-[â € ...]. 6-Repealed.


[â € ...] Article 323.  º newspaper arrests time of action 1 µ s-[â € ...]. 2-Without prejuà zo provided in number following, the action µ s unlawfully subscribed and acquired by or on behalf of the company must be sold within the next year is the acquisition, when the law does not grant the invalidity of this. 3-the time limit referred to in the previous number is reduced to 6 months in the case of issuers of µ s accepted action is trading on a regulated market. 4 – not having been properly carried out the alienaà of µ s laid down in the previous numbers should be is annulment of µ s action that had to be disposed of; for µ s action whose acquisition has been wool quotes, the annulment should rest on the more recently acquired. 5-[previous article ° 4].

[â € ...]

Article 325. ° warranty action ³ µ s own own 6 1-€ acquisition and newspaper arrests of action ³ µ s own own action taken, for the purposes of the limit set in article 317, paragraph 2 article Â. °, the afectaà of action ³ µ s own own, except those that are to support such responsibilities by exercà cio of social positions. 2-[â € ...]. 3-The administrators who accept for society action ³ µ s own own this in pledge or in any other form of collateral, whether either is not exceeded the limit set in article 317, paragraph 2 article Â. °, are responsible, in accordance with the provisions of paragraph 5 of article no. 323 Â. °, if the action µ s will be acquired by the company. 4-For the purposes of paragraph 1, it is considered  if there is afectaà of action ³ µ s own own as collateral when society can take ownership of the same action µ s, or of the product derived from their wrapping, for satisfaction of a credit that holds on the respective holder or any third party. [â € ...] Front hood Chapter VII Publicity of µ s participation and substance abuse information µ s Article 448. º Advertising of participation of shareholders 1 µ-[â € ...]. 2-[â € ...]. 3-[â € ...]. 4-[â € ...]. 5-(new) Without prejuà zo other wrapping µ s applicable, companies issuers of µ s action foreseen in the neas), also b) and c) of paragraph 1 of article 244 # Â. à º ³ code say furniture values rivers publish annexed to the report of the annual River ³ ³ body of personnel administration, the description and value of the business cios ³ between society or other who are in respect of domestic domain or group and the holders of µ s qualified participation, computed in accordance with article 20.  º ³ CODE that say. 6-Reportedly also ³ River report referred to in the previous number, the description of the societies in which any member of the body of ³ administration participate in their bodies or managers of these companies is linked, directly or indirectly, through family members. » 7 Article 4. º Addition is law that Regulates the application of measures for the protection of witnesses in criminal proceedings is ‰ added the article 16. ° the law governing the application of measures for the protection of witnesses in criminal proceedings (approved by law No. 93/99 °, for July 14 , as amended by law n. º 29/2008  of 4 July), with the following redacÃ:  «Â° 16 A (new) protection of witness in economic and financial crime ³ case of economic crime and financial ³ does the revelation of witness identity can take place during any or all phases of the process , and also after ³ s the process and judgement when the statement or the statement µ s they relate to crimes of swindling, harmful administration, abuse of information, manipulation of market or other fraudulent practices since they cause prejuà zo or others assets economic unit ³ mica of the public sector, private or cooperative. » Assembly of the Republic, December 3 2008 Meps, AGOSTINHO LOPES; BERNARDINO SOARES; ANTÔNIO “ NIO PHILIP; JOHN ƒ the tree; MICHAEL James; EUGà ‰ NIO pink; JORGE MACHADO