On September 25, 2026, the President of the Central Bank of the Republic of San Marino, Catia Tomasetti, Esq., spoke at the conference “Free Movement of Capital and Direct Taxation: the Perspective of the Association Agreement”, organized by the University of the Republic of San Marino in the L. Ferroni Auditorium.
During her speech, titled “Free Movement of Capital and Financial Services under the Association Agreement: The Central Bank’s Perspective, ” President Tomasetti outlined the strategic implications of the Agreement for San Marino’s financial system and for the Central Bank itself.
Key points of the speech:
• The Agreement as a “game changer” for the financial system: thanks to the passporting mechanism, San Marino’s financial intermediaries will be able to access the European Single Market. This represents an opportunity for structured and sustainable growth through a staggered approach by sector.
• Full integration and safeguards: Given San Marino’s already well-established track record of international compliance, the Agreement ensures the symmetrical opening of markets and the strengthening of safeguards for the country’s financial system.
• International cooperation: To support the extensive process of transposing the EU acquis (451 EU legislative acts), the Central Bank has already established key institutional partnerships with counterpart authorities abroad.
Finally, the President concluded her remarks by emphasizing the significant commitment required of institutions, the Central Bank, and market participants to implement the Association Agreement, confirming the CBSM technical support and its willingness to collaborate with the University.
Full transcript of the speech and presentation slides.