The Central Bank of the Republic of San Marino announces that it has adopted, within the timeframe specified in Article 11, paragraph 2 of Delegated Decree n.50/2023, and in implementation of Article 3-bis of Delegated Decree n.117/2006 as amended, the Tariff Schedule for calculating the charges accrued and payable by each supervised entity in relation to the supervisory activities requested during the year.
The Fee Schedule will be applied starting in fiscal year 2024, beginning with requests made by supervised entities on or before January 1, 2024. The total amount accrued under the application of the Fee Schedule for that year will represent, for each supervised entity, the "consumption" portion of its contribution for the same year.
As a result, the new calculation structure for the distribution can be summarized as follows:
OVG – QFG – QCG = OVR
OVG = Global amount of supervisory charges to be recovered
QFG = global amount of fixed fees (QF) applicable to all supervised entities (including foreign authorized entities) under Art.3 of D.D. 117/2006
QCG = global amount of the consumption fees (QC) accrued during the year by applicant supervised entities ex art.3 bis of D.D. 117/2006, based on the current Tariff Schedule
OVR = residual amount of supervisory charges, to be allocated among the (only) San Marino authorized entities ex art.4 of D.D. 117/2006 on the basis of the factors identified by CBSM after the opinion of the CCR, equivalent to the global amount of variable quotas (QV)
For contributing entities, the annual fee, effective from the 2024 FY, will therefore be composed as follows:
(a) supervised authorized entity: QF + QC + QV
(b) other supervised entities: QF + QC
(c) foreign authorized entity: ¼ QF
Below is the Fee Schedule for the 2024 FY and onwards, subject to any change published on this website effective from the fiscal year following its publication.
| COD. | Subject of formal request/application | Increase consumption fee* |
| 1 | Opinion or response to regulatory question | € 1.500 |
| 2 | Authorization of statutory changes | € 1.500 |
| 3 | Authorization for acquisition of corporate participation | €1.500 |
| 4 | Authorization of extraordinary transaction | € 2.000 |
| 5 | Authorization of new reserved activity (ref. Annex 1 LISF) | |
| Letter A | € 7.500 | |
| Letter B | € 2.500 | |
| Letter C | € 1.000 | |
| Letter D For the first investment service For each additional investment service |
€ 3,000 € 1,000 |
|
| Letter D-bis | € 3.000 | |
| Letter D-ter | € 3.000 | |
| Letter D-quater | € 3.000 | |
| Letter D-quinquies | € 3.000 | |
| Letter D-sexies | € 3.000 | |
| Letter D-septies | € 3.000 | |
| Letter E | € 3.000 | |
| Letter F | € 2.000 | |
| Letter G | € 5.000 | |
| Letter H | € 5.000 | |
| Letter I | € 2.000 | |
| Letter J | € 2.000 | |
| Letter K | € 1.000 | |
| Letter L | € 1.000 | |
| 6 | Outsourcing authorization | € 1.500 |
| 7 | Authorization to publish prospectus | € 1.500 |
| 8 | Authorization of mutual fund management regulations. | |
| UCITS | € 500 | |
| non-UCITS | € 1.500 | |
| 9 | Authorization for purposes other than those specified above | € 1.500 |
| 10 | Publication of notices from the supervised on the website | € 100 |
| 11 | Updating data on public records online | € 150 |
| 12 | Technical assistance, waiver or extension on supervisory reporting | € 500 |
| 13 | Waiver or extension in different supervisory matters | € 1.000 |
| 14 | Correction of incorrect supervisory reporting** | € 100 |
| 15 | Acquisition of late supervisory reporting*** | € 100 |
* In n the event that the unitary object of the request involves the initiation of more than one listed activity, the sum of the respective fees will not be applied but the application of the higher one as it relates to the most relevant activity.
** Any retransmission of supervisory reports, whether at the initiative of the supervised entity or at the request of CBSM (with the exception of those due to errors blocking the loading into the database), even if made within the original submission deadline. With specific regard to the reports referred to in Circular 2015-02, these include: reports of adjustments to the amounts per individual CR subject, regardless of the number of relevant accounting dates involved, cancellations of monthly risk reporting; reports of changes in status provided that they are in modification or cancellation; and reports of master data changes as a result of an error.
*** Each submission of supervisory reports after the submission deadline, unless a waiver or extension is obtained in advance upon a reasoned application. With regard to the reports referred to in Circular 2015-02, this also includes reports of change of status to extinction of non-performing loans when made more than 5 working days after the event date.