Regulatory Alerts2018-08-31
Regulation No. 2018-02 - Amending Regulations No. 2006-03, No. 2007-07, No. 2011-03, No. 2014-04, and No. 2016-02
The Central Bank of the Republic of San Marino issued Regulation No. 2018-02 to amend five existing regulations by standardizing the definition of "branch" across banking, financial, and accounting frameworks. The regulation introduces specific operational criteria for branches, excluding automated teller machines and temporary event booths, while aligning with EU directives to prepare the financial system for IAS-IFRS principles. It further mandates detailed public disclosure requirements for the annual and consolidated accounts of foreign branches operating in San Marino, distinguishing between entities from EU and non-EU countries.
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