The new powers are in the CMVM's revised statutes, now published in the state legal journal, and which result form a requirement laid down in the memorandum of understanding signed with the international institutions that oversaw Portugal's euro-zone bailout.


From February, CMVM officials will thus have access to all premises, property and means of transport of all entities supervised by the authority and any that work with them, as well as the right to inspect books and other records and demand clarification on facts or documents from any legal representative, worker or employee of the entity being inspected.


The new statutes also state that the members of the CMVM's administrative bodies and its employees are answerable on a civil, criminal, disciplinary and financial basis for acts and omissions of theirs in the exercise of their duties.


The preamble to the legislation, which was drafted by the Ministry of Finance, stresses that the new statutes bolster the autonomy of the CMVM.