Update BRP Country Manual Products
Angola
out of Bank’s Country of Establishment (DEF, RO & BT)
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law/Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s interpretation | Yes |
Definitions & Concepts, Regulatory Overview and Behaviour Template
The Country Manual (CM) has been reviewed to ensure that the content of all the documents remain accurate and up to date.
Material changes
In alignment with the Country Manual Private Banking (CM PB), the provision of Macroeconomic information, Investment research and Financial analysis, and other product-related marketing material is now only permitted on an occasional and on a one-to-one basis onshore in Angola (at target) as well as on a one-to-one basis into Angola (remote). The CM PBT therefore provides the answer “Grey zone/YES” in the relevant scenarios.
With regard to execution only services, in line with the CM PB, it is highlighted the provision of execution only services by foreign (unlicensed) service providers is only permitted on an occasional basis onshore in Angola (at target). Accordingly, the CM P BT provides the answer “Grey zone/YES” in the latter scenario.
With respect to advisory services, it is emphasised that, in line with the CM PB, any provision of advisory services by foreign (unlicensed) service providers is now only permitted on an occasional and one-to-one basis onshore in Angola (at target) as well as on a one-to-one basis into Angola (remote). Accordingly, the CM P BT provides the answer “Grey zone/YES” in the relevant scenarios.
Non-material changes
Some comments and content have been slightly reworded in the CM, without introducing substantive changes to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
For more information, please contact us: info@brpsa.com
Geneva, April 17th, 2025