Thursday, February 2, 2017

In addition to the CGD, regulators also do not deliver the documentation to the commission of inquiry – the Public.en

The Bank of Portugal (Bop) and comissão do mercado de Valores Mobiliários (CMVM) will not deliver, at least for now, the documentation required by the Parliamentary Committee of Inquiry to the Caixa Geral de Depósitos (CGD). The two regulators joined to the Caixa Geral de Depósitos and complained of the decision of the Court of appeal of Lisbon, which obliges them to hand over the documents requested by deputies.

The two regulators, who have issued reported identical at the same time, consider that were not heard before the court had delivered its decision in relation to the lifting of the secret of supervision, and "that is of special significance and importance in the framework of regulation and supervision of the financial system".

For the BdP and the CMVM, the decision of 17 January is the first of the national courts "on the subject of secret surveillance before the parliamentary commissions of inquiry", having both requested the Court of appeal that is recognized the right to "be heard in the process".

The requests, they say the two institutions, were presented "through the means of appropriate procedural" and, once accepted, will give to the court "the relevant elements that will allow it to deepen, in particular, the weighing of the public interests in presence."

This Thursday, it was learned also that the public bank, now headed by Paulo Macedo, will appeal the decision of the Court of appeal, making it clear that you do not want to deliver to Parliament the documents requested by deputies. Concerned is documentation that the members consider relevant such as for example the list of the main debtors of the Box or with a list of the main investments with impairment and that the bank’s public refusal to deliver because it says that it contains confidential information.

The Journal of Business has advanced further that this application of the Box was the “annulment” of the decision of the Relationship.

The decision of the Relation of Lisbon has been known for two weeks, and those involved were at the limit of the period to appeal the decision. Now, you must be the Court itself to assess the resources received or send to the Supreme a decision. Such as explained, there is no consensus that this is a decision subject to appeal, but while the Supreme decides and does not decide, those involved can, at least, to postpone the delivery of the documents.

BdP and CMVM say they are preparing the documents to deliver to the Parliament the

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Gabriela Fugueiredo Days, the president of the CMVM, and Carlos Costa, governor of the Bank of Portugal, met this Thursday afternoon with the president of the commission of inquiry to the CGD, Matos Correia. At the beginning of the meeting this afternoon, the president of the commission of inquiry informed the deputies that the two entities you have explained the justification that they did get to Lisbon. “Neither the one nor the other were heard in the process. Stressed that is not in question any attempt to cooperate with the commission, within what are the rules and defend their position as supervisors acting with due diligence,” said Matos Correia.

The president of the commission said that the governor and the president of the CMCM “have not failed to underline all his availability to collaborate with the Commission”, saying that “the required documents are being worked and if the decision of the court is in follow-up to the previous, the documents will be ready at that time, when the decision is final,” she said.

NOTE: updated News at 18h23 with the information provided by the president of the commission of inquiry.


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