Angola Capital Markets Commission announces CSSF extension of banks’ temporary securities and derivatives services exception to 31 December 2030

The Angola Capital Markets Commission has published a notice from the Financial System Supervisors Council extending the exception that allows banking financial institutions to carry out a limited set of investment services in securities and derivatives. The exception, previously set to run until 31 December 2025, is extended to 31 December 2030 to support an orderly transfer of these activities from banks to securities distributors and brokers while maintaining continuity in the securities and derivatives market. Until 31 December 2030, banks may continue to provide custody-related services (registration and deposit of securities and derivatives and related safekeeping services such as treasury or collateral management) for non-resident foreign exchange investors and for their own portfolio, assist in public offers, and trade on own account outside a regulated market. Banks that exercise or intend to exercise these activities must apply to the Angola Capital Markets Commission for endorsement or registration, and must provide specified reporting during the exception period, including details of non-resident investor portfolios and own portfolio, revenue by business line (including revenues from acting as depositary for collective investment undertakings), a monthly inventory of collective investment undertaking assets and liabilities, the annual depositary report, information on non-resident investor orders, details of event distributions to clients, and a mapping of customer transfers to other intermediaries. Registrations for capital structure and M&A-related advisory, and for underwriting and placement in public offers (with or without guarantee), lapse on 31 December 2025; separately, banks may market collective investment undertaking units in addition to acting as depositary.