Regulatory Alerts2025-10-23
Regulation No. 2025-04 - Regulation on the Investor Compensation Fund
The General Director of the Central Bank of the Republic of San Marino issued Regulation No. 2025-04 to establish the operational framework for the Investor Compensation Fund, implementing Article 100-bis of the Banking, Financial and Insurance Enterprises Law. The regulation defines the fund's autonomous nature, mandatory membership for investment service providers, and specific procedures for investor claims and compensation limits. It also outlines the governance structure, financial provisioning requirements, and sanctions for non-compliance, with the regulation entering into force on October 23, 2025.
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