Regulatory Alerts2021-05-17
Regulation No. 2021-01 - Miscellany of Targeted Review Interventions to Current Supervisory Provisions
The Vice Director of the Central Bank of the Republic of San Marino issued Regulation No. 2021-01 to consolidate, simplify, and align supervisory provisions for banks, financial companies, insurers, and trustees. The regulation introduces stricter requirements for the integrity and professional qualifications of corporate executives and financial promoters, while enhancing internal control functions and risk management monitoring. It also updates reporting obligations, whistleblower mechanisms, and the regulatory framework for trustee activities and cross-border supervision.
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