On 10 February 2026, the Central Bank of the Republic of San Marino (CBSM) signed a Memorandum of Understanding (MoU) with the Financial Supervision Commission (FSC), the Bulgarian supervisory authority for capital markets, insurance, and pension insurance.
The signing of the Memorandum formally and structurally concludes a cooperation process initiated in April 2025, which enabled cooperation between the two authorities even prior to the signature of the agreement.
The Memorandum formalizes the framework for bilateral cooperation and information exchange established between the CBSM and the FSC in the performance of their respective functions and mandates, providing a robust basis for mutual assistance in the supervision and regulation of supervised entities.
The Memorandum was signed by Andrea Vivoli, Managing Director of the CBSM, and Vasil Golemansky, President of the FSC.
Catia Tomasetti, President of the CBSM, welcomed the signing of the agreement, the tenth concluded by the Central Bank—seven of which have been signed over the last three years—confirming the ongoing strengthening of CBSM’s international relations, also in view of the Association Agreement between San Marino and the European Union.
CBSM Managing Director Vivoli stated: “The signing of this MoU, building on the constructive cooperation established with the FSC from our very first exchanges, confirms our strategy of expanding cooperation arrangements with supervisory authorities of other EU countries in the financial and insurance fields—a strategy that is set to grow and develop further in the near future.”
For more information:
Central Bank of San Marino (BCSM) - relazioni.esterne@bcsm.sm