Regulatory Alerts2020-03-19
Regulation No. 2020-01 - Miscellany of Targeted Review Interventions to Current Supervisory Provisions
The Central Bank of the Republic of San Marino issued Regulation No. 2020-01 to align supervisory provisions with primary legislative changes and consolidate existing supervisory guidelines. The regulation updates definitions for key corporate officers, clarifies the scope of reserved banking activities, and establishes stricter fit-and-proper requirements for management and promoters. It also streamlines authorization procedures for branches and service providers while enhancing information exchange obligations with foreign supervisory authorities.
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