Regulatory Alerts2024-01-01
Regulation No. 2023-03 on Investment Solicitation
The General Director of the Central Bank of the Republic of San Marino issued Regulation No. 2023-03 to establish the legal framework for investment solicitation activities within the territory. The regulation mandates that all investment solicitations require prior authorization from the Bank and the publication of an approved information prospectus, while defining specific exclusions for professional clients and small-scale offerings. It further details the mandatory structure of the prospectus, the authorization procedure, and grants investors a seven-day right of withdrawal from financial products.
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