The Portuguese Securities Market Commission (CMVM) announced on Wednesday two decisions regarding administrative offense proceedings under conditions of anonymity.
In a statement, the market regulator explained that the CMVM’s decisions were based on:
- A violation of duties in the context of anti-money laundering and counter-terrorism financing, specifically, the duty to obtain identifying elements, the duty to know and identify the ultimate beneficiaries, the duty to consult the central registry of the ultimate beneficiary, the duty to adopt additional diligence procedures, the duty to adopt enhanced measures, and the duty to observe rules related to group relationships.
The CMVM noted that a fine of 25,000 euros was imposed, which was fully suspended for two years.
- A violation of auditors’ duties, particularly the duty of documentation, which resulted in a fine of 40,000 euros, partially suspended in the amount of 20,000 euros for two years.
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