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Regulations

Regulation No. 2026-02 — Update regulation on procedures for feeding and maintaining the debtors' registry Text in effect from 02/27/2026
Regulation No. 2026-01 — Miscellany of targeted interventions for revision to existing supervisory regulations

Text in effect from 01/29/2026
Regulation No. 2025-05 — Regulation on corporate officers of San Marino financial companies

Text in effect from 01/29/2026

 

Standard forms

Self-declaration requirement of good standing
Self-declaration propriety criterion
Self-declaration requirement of professionalism
Self-declaration independence requirement for independent director
Self-declaration independence requirement for control functions

 
Regulation No. 2025-04 — Regulation on the Investor Compensation Fund

Text in effect from 10/28/2025
Regulation No. 2025-03 — Updating the provisions on payment transactions (SEPA)

Text in effect from 10/08/2025
Regulation No. 2025-02 — Regulation on Independent Financial Advisors

Text in effect from 01/29/2026

Text in effect from 09/25/2025 to 01/28/2026

 

Standard models

Independent financial advisors: self-declaration of good repute requirements
Independent financial advisors: application form for registration in the register - Section A individuals
Independent financial advisors: application form for registration in the register - Section B SCFI
Independent financial advisors: application form for authorization for foreign financial advisor
Independent financial advisors: report template for the activity program and organizational structure
Independent financial advisors: self-declaration of continued compliance with requirements - independent financial advisor for their own account
Independent financial advisors: self-declaration of continued compliance with requirements - independent financial advisor on behalf of SCFI
Regulation No. 2025-01 — Miscellany of targeted interventions for revision to existing supervisory regulations

Text in effect from 01/28/2025
Regulation No. 2024-05 — Regulation on investment services and activities

Text in effect from 01/29/2026

Text in effect from 09/25/2025 to 01/28/2026

Text in effect from 01/28/2025 to 09/24/2025

Text in effect from 01/01/2025 to 01/27/2025

Standard forms:
Investment firms: organizational structure report outline
Regulation No. 2024-04 — Regulation on payment transactions

Text in effect from 10/08/2025

Text in effect from 12/01/2024 to 10/07/2025
Regulation No. 2024-03 — Regulation on crypto-assets

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 10/02/2024 to 01/27/2025


Standard forms:
Regulation No. 2024-02 — Regulation on insurance and reinsurance distribution

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 01/07/2024 to 01/27/2025

Standard templates:
Regulation No. 2024-01 — Miscellany of targeted interventions for revision to existing supervisory regulations Text in effect from 02/13/2024
Regulation No. 2023-05 — Update regulation on procedures for feeding and maintaining the debtors' registry Text in effect from 12/22/2023
Regulation No. 2023-04 — Regulation on consolidated financial statements supplementing Regulation No. 2016-02 and Circular No. 2017-03 Text in effect from 01/01/2024
Regulation No. 2023-03 — Regulation on the solicitation of investment

Text in effect from 01/01/2024 (with corrections)
Regulation No. 2023-02 — Regulation updating the supervisory provisions on credit exposures Text in effect from 05/15/2023
Regulation No. 2023-01 — Miscellaneous targeted revisions of the current supervisory regulations Text in effect from 03/31/2023
Regulation No. 2022-04 — Regulation on securitization transactions and related servicers

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 02/13/2024 to 01/27/2025

Text in effect from 11/30/2022 to 02/12/2024

Standard forms

Servicer: self-declaration of the requirement for good repute
Servicer: application form for registration in the register - Section A financial companies
Servicer: application form for registration in the register - Section B servicing companies
Regulation No. 2022-03 — Regulation for updating the transparency rules towards investors in mutual funds Text in effect from 01/01/2023
Regulation No. 2022-02 —Regulation on the Extraordinary Fund for Protection Against Financial Fraud Text in effect from 02/28/2025
Regulation No. 2022-01 — Miscellaneous Targeted Interventions for the Revision of the Current Supervisory Provisions Text in effect from 02/28/2022
Regulation No. 2021-02 — Regulation no. 2021-02 – Regulation on extraordinary procedures of financial firms” (Only in English).

Text in effect from 01/29/2026

Text in effect from 02/28/2022 to 01/28/2026

Text in effect from 03/31/2023 to 01/27/2025

Text in effect from 02/28/2022 to 03/30/2023
Regulation No. 2021-01 — Miscellaneous Targeted Interventions for the Revision of Current Supervisory Provisions Text in effect from 02/28/2022
Regulation No. 2020-05 —Amending Regulation to Regulation No. 2007-01 on the Reporting Procedures pursuant to Article 68 of Law No. 165 of November 17, 2005 Text in effect from 01/04/2021
Regulation No. 2020-04 — Regulation on Payment Services and Issuance of Electronic Money (Payment Institutions and EMIs)

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 12/01/2024 to 01/27/2025

Text in effect from 10/02/2024 to 11/30/2024

Text in effect from 02/13/2024 to 10/01/2024

Text in effect from 03/31/2023 to 02/12/2024

Text in effect from 02/28/2022 to 03/30/2023

Text in effect from 05/17/2021 to 02/27/2022

Text in effect from 01/04/2021 to 05/16/2021

Standard models

Payment institutions and EMIs: organizational structure report template

Payment institutions and EMIs: description of payment services and electronic money issuance activities
Regulation No. 2020-02 — Regulation amending Regulation No. 2010-01 for the professional practice of the trustee office in the Republic of San Marino Text in effect from 06/05/2020
Regulation No. 2020-01 — Miscellaneous targeted interventions to revise the current supervisory provisions

Text in effect from 03/19/2020 (with corrections)
Regulation No. 2019-02 — Regulation on the procedures for maintaining and managing the debtors' register

Text in effect from 02/27/2026 

Text in effect from 12/22/2023 to 02/26/2026

Text in effect from 07/31/2019 to 12/21/2023
Regulation No. 2019-01 — Miscellaneous targeted interventions for the revision of the current supervisory provisions

Article 20 and 21 Text in effect from 03/31/2023

Text in effect from 03/01/2019
Regulation No. 2018-02 — Regulation amending Regulations No. 2006-03, No. 2007-07, No. 2011-03, No. 2014-04, No. 2016-02 Text in effect from 08/31/2018
Regulation No. 2018-01 — Miscellaneous targeted interventions to revise the current supervisory provisions Text in effect from 03/31/2018
Regulation No. 2017-08 — Regulation for the payment and protest of electronic format cheques Text in effect from 01/29/2018
Regulation No. 2017-07 —Regulation on the discipline of life insurance contracts with revalued benefits linked to a separate internal management

Last text in force until repeal

Attachments to the Regulation 2017-07
Regulation No. 2017-06 — Miscellaneous targeted interventions for the revision of the current supervisory provisions

Text in effect from 09/30/2017
Regulation No. 2017-05 — Regulation amending Regulation No. 2016-01 on the depositors' guarantee fund

Text in effect from 01/10/2017
Regulation No. 2017-04 — Provisions for the coordination of Regulation 2016-02 and the revision of Circular No. 2015-02 Text in effect from 09/30/2017
Regulation No. 2017-02 — Regulation amending Regulation No. 2006-01 Text in effect from 03/01/2017
Regulation No. 2017-01 — Regulation amending Regulations No. 2007-07, No. 2011-03, and No. 2016-02 Text in effect from 01/27/2017
Regulation No. 2016-04 — Regulation on Supervision Reporting by Life Insurance Companies - Update No. II Text in effect from 01/01/2017
Regulation No. 2016-03 — Miscellaneous targeted interventions for the revision of the current supervisory provisions Text in effect from 11/01/2016
Regulation No. 2016-02 — Regulation on the preparation of the financial statements and consolidated financial statements of authorized entities

Text in effect from 01/29/2026

Text in effect from 02/13/2024 to 01/28/2026

Text in effect from 01/01/2024 to 02/12/2024

Text in effect from 05/15/2023 to 12/31/2023

Text in effect from 03/31/2023 to 05/14/2023

Text in effect from 02/28/2022 to 03/30/2023

Text in effect from 03/19/2020 to 02/27/2022

Text in effect from 03/01/2019 to 03/18/2020

Text in effect from 08/31/2018 to 02/28/2019

Text in effect from 03/31/2018 to 08/30/2018

Text in effect from 09/30/2017 to 03/30/2018

Text in effect from 01/27/2017 to 09/29/2017

Text in effect from 09/01/2016 to 01/26/2017
Regulation No. 2016-01 — Regulation on the depositors' guarantee fund

Text in effect from 01/29/2026

Text in effect from 02/13/2024 to 01/28/2026

Text in effect from 05/17/2021 to 02/12/2024
Regulation No. 2015-03 — Miscellaneous targeted interventions for the revision of the current supervisory provisions Text in effect from 01/01/2016
Regulation No. 2015-02 — Regulation on the National Payment System

Text in effect from 01/29/2026

Text in effect from 01/11/2015 to 01/28/2026
Regulation No. 2015-01 —Regulation on Informational Supervision

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 02/13/2024 to 01/27/2025

Text in effect from 02/13/2024 to 01/27/2025

Text in effect from 03/31/2023 to 02/12/2024

Text in effect from 02/28/2022 to 03/30/2023

Text in effect from 05/17/2021 to 02/27/2022

Text in effect from  03/19/2020 to 05/16/2021

Text in effect from 03/01/2019 to 03/18/2020

Text in effect from  09/30/2017 to 02/28/2019

Text in effect from  11/01/2016 to 09/29/2017

Text in effect from 01/01/2016 to 10/31/2016

Text in effect from  02/02/2015 to 12/31/2015
Regulation No. 2014-05 — Miscellaneous targeted interventions for the revision of the current supervisory provisions Text in effect from 01/01/2015
Regulation No. 2014-03 — Regulation on the Register of Parent Companies

Text in effect from 01/01/2015

Text in effect from 07/07/2014 to 12/31/2014
Regulation No. 2014-02 — Regulation on the detection of threshold rates for anti-usury purposes pursuant to Article 207 of the Penal Code

Text in effect from 01/29/2026

Text in effect from 05/15/2023 to 01/28/2026

Text in effect from 05/30/2018 to 05/14/2023

Text in effect from 01/01/2016 to 05/29/2018

Text in effect from 02/02/2015 to 12/31/2015

Text in effect from 01/01/2015 to 02/01/2015

Text in effect from 03/31/2014 to 12/31/2014
Regulation No. 2014-01 —Regulation on financial promotion and off-site offerings

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 01/01/2025 to 01/27/2025

Text in effect from 02/13/2024 to 12/31/2024

Text in effect from 05/17/2021 to 02/12/2024

Text in effect from 03/01/2019 to 05/16/2021

Text in effect from 03/31/2018 to 02/28/2019

Text in effect from 09/30/2017 to 03/30/2018

Text in effect from 11/01/2016 to 09/29/2017

Text in effect from 03/31/2014 to 10/31/2016

Standard forms:

Off-site providers: self-declaration of good repute requirements

Off-site providers: registration application form for the financial promoters register

Off-site providers: registration application form for the financial promoters register - employees section

Off-site providers: self-declaration of continued compliance with requirements for exercising the activity of financial promoter

Off-site providers: template for the annual report on the activities carried out by the financial promoter

 
Regulation No. 2013-06 — Miscellaneous targeted interventions for the revision of the current supervisory provisions

Text in effect from 12/19/2013
Regulation No. 2013-04 — Regulation on euro banknotes and coins

Text in effect from 03/31/2023

 
Regulation No. 2013-03 — Regulation on the Guarantee Fund for Processing

Text in effect from 09/30/2017

Text in effect from 01/01/2016 to 09/29/2017

Text in effect from 07/25/2013 to 12/31/2015
Regulation No. 2013-02 — Regulation on life insurance activities, Update No. I - Regulation on the preparation of the financial statements of insurance companies operating in life insurance, Update No. I

Text in effect from 07/18/2013
Regulation No. 2013-01 — Regulation on the Register of Authorized Entities - Update No. II

Text in effect from 07/01/2013
Regulation No. 2012-03 — Miscellaneous targeted interventions for the revision of the current supervisory provisions

Text in effect from 12/07/2012
Regulation No. 2012-02 — Regulation No. 2007-07, Update IV - Regulation No. 2011-03, Update II

Text in effect from 07/05/2012
Regulation No. 2012-01 — Regulation No. 2007-07, Update III - Regulation No. 2011-03, Update I

Text in effect from 06/30/2012
Regulation No. 2011-06 — Implementing Regulation on Trusts and Supervision of Financial Trustees

Text in effect from 05/17/2021

Text in effect from 03/19/2020 to 05/16/2021
Regulation No. 2011-05 — Regulation amending Regulation No. 2006-03 on collective investment services

Text in effect from 12/21/2011
Regulation No. 2011-04 — Regulation on the domestic contact exchange service (SRD), Update No. I.

Text in effect from 10/24/2011
Regulation No. 2011-03 — Regulation on the activity of granting loans (financial companies)

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 05/15/2023 to 27/01/2025

Text in effect from 03/31/2023 to 14/05/2023

Text in effect from 02/28/2022 to 03/30/2023

Text in effect from 05/17/2021 to 02/27/2022

Text in effect from 03/19/2020 to 05/16/2021

Text in effect from 03/01/2019 to 03/18/2020

Text in effect from 08/31/2018 to 02/28/2019

Text in effect from 03/31/2018 to 08/30/2018

Text in effect from 09/30/2017 to 03/30/2018

Text in effect from 01/27/2017 to 09/30/2017

Text in effect from 11/01/2016 to 01/26/2017

Text in effect from 01/01/2016 to 10/31/2016

Text in effect from 02/02/2015 to 12/31/2015

Testo in vigore dal 01/01/2015 al 02/02/2015

Text in effect from 12/19/2013 to 12/31/2014

Text in effect from 12/07/2012 to 12/18/2013

Text in effect from 07/05/2012 to 12/06/2012

Text in effect from 06/30/2012 to 07/04/2012

Text in effect from 07/01/2011 to 06/29/2012

Standard Models

Financial companies: controlling entity identification form
Regulation No. 2011-02 — Regulation on savings collection and banking activity - Update No. II

Text in effect from 06/30/2012

Text in effect from 07/01/2011 to 06/29/2012
Regulation No. 2011-01 — Regulation for the professional practice of the trustee office in the Republic of San Marino, Update No. I (with errata corrige).

Text in effect from 04/28/2011
Regulation No. 2010-01 — Regulation on the professional practice of the trustee office in the Republic of San Marino

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 02/13/2024 to 01/27/2025

Text in effect from 03/31/2023 to 02/12/2024

Text in effect from 05/17/2021 to 03/30/2023

Text in effect from 06/05/2020 to 05/16/2021

Text in effect from 03/01/2019 to 06/04/2020

Text in effect from 11/01/2016 to 02/28/2019

Text in effect from 12/19/2013 to 10/31/2016

Text in effect from 12/07/2012 to 12/18/2013

Text in effect from 12/31/2011 to 12/06/2012

Text in effect from 04/28/2011 to 12/29/2011

Text in effect from 08/31/2010 to 04/27/2011

Standard forms:
Trustee: self-declaration of good repute requirements

Trustee: self-declaration of requirements for the professional exercise of the trustee office by financial institutions

Trustee: self-declaration of requirements for the professional exercise of the trustee office by corporations other than financial institutions

Trustee: self-declaration of requirements for the professional exercise of the trustee office by independent professionals

Trustee: self-declaration of the continued fulfillment of requirements for the professional exercise of the trustee office
Regulation No. 2009-04 — Regulation on supervisory reports for life insurance companies

Text in effect from 01/29/2026

Text in effect from 01/01/2017 to 01/28/2026

Text in effect from 12/19/2013 to 12/31/2016
Regulation No. 2009-02 —Regulation on the Register of Authorized Entities - Update No. I

Text in effect from 04/30/2009
Regulation No. 2009-01 — Regulation on the preparation of the financial statements of insurance companies operating in the life insurance sector

Current text

Text in effect from 08/28/2022 to 03/30/2023

Text in effect from 03/01/2019 to 02/27/2022

Text in effect from 01/01/2015 to 02/28/2019

Text in effect from 07/18/2013 to 12/31/2014

Text in effect from 03/02/2009 to 07/17/2013
Regulation No. 2008-04 —Update I to the Regulation on savings collection and banking activity

Text in effect from 01/01/2009
Regulation No. 2008-01 — Regulation on life insurance activities

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 01/01/2025 to 01/27/2025

Text in effect from 01/07/2024 to 12/31/2024

Text in effect from 02/13/2024 to 06/30/2024
Regulation No. 2007-07 — Regulation on savings collection and banking activities

Text in effect from 01/29/2026

Text in effect from 28/01/2025 to 01/28/2026

Text in effect from 01/01/2025 to 27/01/2025

Text in effect from 02/10/2024 to 31/12/2024

Text in effect from 05/15/2023 to 10/01/2024

Text in effect from 03/31/2023 to 05/14/2023

Text in effect from 02/28/2022 to 03/30/2023

Text in effect from 05/17/2021 to 02/27/2022

Text in effect from 03/19/2020 to 05/16/2021

Text in effect from 03/01/2019 to 03/18/2020

Text in effect from 08/31/2018 to 02/28/2019

Text in effect from 03/31/2018 to 08/30/2018

Text in effect from 09/30/2017 to 03/30/2018

Text in effect from 01/27/2017 to 09/29/2017

Testo in vigore dal 11/01/2016 al 01/26/2017

Text in effect from 01/01/2016 to 10/31/2016

Text in effect from 02/02/2015 to 12/31/2015

Text in effect from 01/01/2015 to 02/01/2015

Text in effect from 12/19/2013 to 12/31/2014

Text in effect from 12/07/2012 to 12/18/2013

Text in effect from 07/05/2012 to 12/06/2012

Text in effect from 06/30/2012 to 07/04/2012

Text in effect from 07/01/2011 to 06/29/2012

Text in effect from 01/01/2009 to 06/30/2011

Text in effect from 01/01/2008 to 12/31/2008

 

Standard forms:

Banks: controlling entity identification form
Regulation No. 2007-06 — Regulation for the preparation of financial statements of mutual investment funds

Text in effect from 01/01/2023

Text in effect from 06/02/2007 to 12/31/2022
Regulation No. 2007-04 —Regulation on the service for the exchange of domestic contact details (SRD)

Text in effect from 10/24/2011

Text in effect from 06/01/2007 to 10/23/2011
Regulation No. 2007-03 — Amendments to Regulation No. 2006-03 on collective investment services

Text in effect from 04/26/2007
Regulation No. 2007-01 — Regulation on the reporting procedures pursuant to Article 68 of the LISF

Text in effect from 04/01/2021

Text in effect from 03/19/2020 to 01/03/2021
Regulation No. 2006-03 — Regulation on collective investment services

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 01/01/2025 to 01/27/2025

Text in effect from 03/31/2023 to 12/31/2024

Text in effect from 01/01/2023 to 03/30/2023

Text in effect from 02/28/2022 to 12/31/2022

Text in effect from 05/17/2021 to 02/27/2022

Text in effect from 03/19/2020 to 05/16/2021

Text in effect from 08/31/2018 to 03/18/2020

Text in effect from 03/31/2018 to 08/30/2018

Text in effect from 09/30/2018 to 03/30/2018

Text in effect from 11/01/2016 to 09/29/2017

Testo in vigore dal 01/01/2016 al 10/31/2016

Text in effect from 01/01/2015 to 12/31/2015

Text in effect from 12/19/2013 to 12/31/2014

Text in effect from 12/07/2012 to 12/18/2013

Text in effect from 12/21/2011 to 12/06/2012

Text in effect from 04/27/2007 to 12/20/2011

Text in effect from 11/15/2006 to 04/26/2007

Standard forms:

Management companies: reporting of violations of investment prohibitions/limits for funds

Management companies: template for the organizational structure report
Regulation No. 2006-02 —Regulation on Consultation Procedures for Draft Legislation

Text in effect from 04/25/2006
Regulation No. 2006-01 — Register of Authorized Entities

Text in effect from 01/29/2026

Text in effect from 01/28/2025 to 01/28/2026

Text in effect from 02/13/2024 to 01/27/2025

Text in effect from 02/28/2023 to 02/12/2024

Text in effect from 05/17/2021 to 02/27/2022

Text in effect from 09/30/2017 a 05/16/2022

Text in effect from 03/01/2017 to 09/29/2017

Text in effect from 01/01/2016 to 02/28/2017

Text in effect from 07/01/2014 to 12/31/2015

Text in effect from 07/01/2013 to 06/30/2014

Text in effect fom 04/30/2009 to 06/30/2013

Text in effect from 04/25/2006 to 04/29/2009