Order No. 10348 of 2024: The Statute of Limitations for Financial Intermediation Sanctions

The recent Order No. 10348 of April 17, 2024, issued by the Court of Cassation, addresses a matter of significant importance in the field of financial intermediation and administrative sanctions. Specifically, the ruling clarifies the application of the five-year statute of limitations provided for by Article 28 of Law No. 689 of 1981, highlighting the specialty of this regulation compared to that contained in Law No. 241 of 1990.

Regulatory Context

The central issue of the ruling concerns the statute of limitations for administrative sanctions for violations of financial intermediation rules. Article 28 of Law No. 689 of 1981 establishes a five-year statute of limitations for the imposition of sanctions, which has been confirmed by the Court as applicable even in this specific context.

The Court reiterated that Law No. 689 of 1981 constitutes a complete system regarding administrative sanctions. Therefore, even if Law No. 241 of 1990 is later, it cannot prevail over what was already established by the previous regulation, thus creating a situation of specialty. This principle of specialty is fundamental, as it guarantees legal certainty for operators in the financial intermediation sector.

Ruling Summary

Violation of provisions concerning financial intermediation - Five-year statute of limitations pursuant to Article 28 of Law No. 689 of 1981 - Applicability - Basis. In matters of administrative sanctions for violation of rules governing financial intermediation activities, the five-year statute of limitations provided for by Article 28 of Law No. 689 of 1981 applies, and not the different terms provided for by Law No. 241 of 1990, because Law No. 689 of 1981 constitutes a complete system, and the regulation of the imposition of administrative sanctions is in a special relationship with that of administrative proceedings in general. Therefore, the latter, even if subsequent to the former, does not entail the abrogation of the previous one.

This summary offers a clear overview of the Court's reasoning, emphasizing the importance of a consistent approach in applying sanctioning regulations. The distinction between statute of limitations periods is indeed crucial for ensuring the proper management of disputes and for protecting the rights of economic operators.

Conclusions

In conclusion, Order No. 10348 of 2024 represents a significant step in defining the regulatory framework for administrative sanctions in financial intermediation. It reaffirms the applicability of the five-year statute of limitations provided for by Law No. 689 of 1981, highlighting its specialty compared to more recent regulations. This ruling not only clarifies the rights and duties of operators in the sector but also contributes to greater legal certainty in an area that is often complex and subject to different interpretations.