Portugal's Insurance and Pension Funds Supervisory Authority has issued Circular No. 5/2026 to revoke the extraordinary supervisory measures introduced during the COVID-19 pandemic and extended in May 2022 after international geopolitical tensions intensified. The move ends the additional monthly reporting regime, including the extraordinary information returns "AtivosAgrFP.xls" and "Reembolsos.xls", with effect from the May 2026 reference period, as the authority considers regular reporting and supervisory mechanisms sufficient to monitor risks. The withdrawal revokes Circular Letters No. 4/2020 and No. 10/2020 and Circulars No. 5/2020, No. 6/2021 and No. 6/2022. The authority said that, despite a still complex geopolitical backdrop, maintaining extraordinary monthly reporting is no longer proportionate to the burden involved. It also left open the option to reintroduce exceptional measures if the macroeconomic environment worsens significantly.
Portuguese Insurance Regulator (ASF)2026-05-26
Portugal's Insurance and Pension Funds Supervisory Authority revokes COVID-19 era extraordinary supervision measures and ends monthly reporting from May 2026
Portugal's Insurance and Pension Funds Supervisory Authority has issued Circular No. 5/2026 to revoke the extraordinary supervisory measures and additional monthly reporting regime introduced during the COVID-19 pandemic and extended in 2022, effective from the May 2026 reference period. The move repeals Circular Letters No. 4/2020 and No. 10/2020 and Circulars No. 5/2020, No. 6/2021 and No. 6/2022, as regular reporting is deemed sufficient, while reserving the option to reintroduce exceptional measures if macroeconomic conditions deteriorate.