Regulatory Alerts2022-02-28
Regulation No. 2022-02 on the Extraordinary Fund for Protection Against Financial Fraud
The Central Bank of the Republic of San Marino issued Regulation No. 2022-02 to establish the operational framework for the Extraordinary Fund for Protection Against Financial Fraud (FSFF). The regulation defines eligibility criteria for compensation, excluding legal entities and insiders, while mandating that claimants prove financial losses resulting from fraudulently established conduct by insolvent authorized financial entities. It outlines the governance structure, application procedures, and the calculation and payment mechanisms for indemnities within the fund's financial limits.
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