On April 28, 2014 the Council of Ministers approved an amendment to the General Regime for Credit Institutions and Financial Companies.

The amendments should be approved within the transposition of the European Directive regarding the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms.

In the communication of the Council of Ministers it is referred that the amendments affect the "supervision of management and supervisory member's functions and other positions with significant influence over the management". It is also foreseen the creation of whistleblowing mechanisms.

The transposition of the Directive should also result in the extension of the range of corrective measures applicable by the Bank of Portugal and the range of infractios and sanctions in case of default.