The President of the Republic, Marcelo Rebelo de Sousa, promulgated the diploma that revises the legal regime of securities investment companies for the promotion of the economy (SIMFE), regretting, however, “the great difficulty faced by local authorities in resorting to the new regime”.

The decision was announced this Monday in a publication on the website of the Presidency of the Republic.

Although regretting the great difficulty for local authorities to resort to the new legal regime, the President of the Republic promulgated the Government diploma which reviews the legal regime of investment companies to promote the economy.”, indicates the Presidency.

The decree-law that revises the legal framework for securities investment companies to promote the economy (SIMFE) was approved by the Council of Ministers on July 8th.

The present diploma changes the regime relating to the dynamization of the capital market with a view to diversifying the sources of financing for companies, also changing the Legal Regime of Venture Capital, Social Entrepreneurship and Specialized Investment”, can be read in the communiqué issued by the Council of Ministers.

According to the Government, this change “clarifies some legislative options provided for in that regime that affect SIMFE – securities investment companies to promote the economy”.

Flexdeal was the first Portuguese SIMFE, having registered losses of 257,000 euros in the first quarter of 2021, after profits of 220 thousand euros in the same period last year, the company informed the market on 28 June.

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