San Marino Central Bank Signs MoU with Bulgarian Financial Supervision Commission

11 Mar 2026
1 min read

On 10 February 2026, the Central Bank of the Republic of San Marino (BCSM) signed a Memorandum of Understanding (MoU) with the Financial Supervision Commission (FSC), the Bulgarian authority supervising the capital markets, the insurance sector, and pension insurance.

The signing of the memorandum formally and structurally concludes a collaboration that began in April 2025, which allowed cooperation between the two authorities even before the agreement was signed.
The Memorandum formalizes the framework of bilateral cooperation and information exchange initiated between the BCSM and the FSC for the exercise of functions and competencies, providing a solid basis for mutual assistance in the supervision and regulation of their respective supervised activities. The agreement was signed by the General Director of the BCSM, Andrea Vivoli, and by Vasil Golemanski, President of the FSC. The President of the BCSM, Catia Tomasetti, welcomes the signing of the agreement, the tenth signed by the Central Bank, seven of which were signed in the last three years, confirming the ongoing strengthening of BCSM's international relations, also in view of the Association Agreement between San Marino and the European Union.

The General Director of BCSM, Vivoli, states that:
"The signing of this MoU, the result of positive collaboration established with the FSC since the initial discussions, confirms the strategy of expanding cooperation agreements with supervisory authorities of other EU countries in the financial and insurance sectors, which is destined to grow and develop in the near future."

For further information:
Central Bank of San Marino (BCSM) – external.relations@bcsm.sm