Regulatory Alerts2012-12-07
Regulation No. 2012-03: Miscellany of Targeted Revisions to Current Supervisory Provisions
The General Director of the Central Bank of the Republic of San Marino issued Regulation No. 2012-03 to consolidate existing supervisory guidelines and implement targeted updates to prudential rules. The regulation establishes stricter professional experience requirements for bank and financial company administrators and executives, while introducing new limits and procedures for intra-group outsourcing of key functions. It also revises the calculation of consolidated supervisory capital, large exposure limits for financial groups, and accounting valuation methods for participations in controlled companies.
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