Regulatory Alerts2011-04-28
Regulation No. 2011-01: Update I on the Professional Exercise of the Trustee Office in the Republic of San Marino
The Central Bank of the Republic of San Marino issued Regulation No. 2011-01 to update the requirements for professional trustees, defining specific eligibility criteria for financial enterprises, companies, and independent professionals. The regulation mandates strict honorability checks, minimum capital and insurance thresholds, and compulsory training courses organized by the BCSM Foundation for authorization and ongoing compliance. It further establishes procedures for the revocation of authorization and periodic reporting obligations to ensure adherence to anti-money laundering standards.
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