Regulation No. 2024-01 - Miscellaneous targeted revisions to current supervisory provisions

The Central Bank of the Republic of San Marino issued Regulation No. 2024-01 to revise supervisory provisions regarding fit and proper assessments. The regulation expands the definition of negative references to include potential links with criminals, requiring the Bank to verify the absence of such ties both ex ante and periodically. Authorizations may be denied or revoked if the Bank identifies elements deemed prejudicial based on available information tools and databases.

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Text in force from 29.01.2026 as a result of the modifications set forth in Article VII.II.2, paragraph 10 of Regulation No. 2025-05

Article 15 – Final Provisions

For the purposes of the requirement regarding ownership structures aimed at ensuring the sound and prudent management of the supervised entity, "negative references" also include those pertaining to potential links with criminals. In order to verify, both ex ante and periodically, the absence of such possible links, the Central Bank of the Republic of San Marino utilizes the informational tools available to it, including queries of media or databases, denying the requested authorizations, or revoking those granted, where elements deemed prejudicial emerge.

Lineage: In force

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Timeline

This document amends: Regulation No. 2025-05 on Key Function Holders of San Marino Financial Enterprises

Source: Banca Centrale della Repubblica di San Marino — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works