Fee chart for consumption-based supervision charges under art.3-bis Delegated Decree no.117 of 6 november 2006

The Central Bank of the Republic of San Marino hereby announces the adoption of a fee chart for the calculation of charges incurred by each supervised entity in relation to the supervisory activities requested during the current year. Such adoption has been carried out within the deadlines set out in Article 11, paragraph 2 of Delegated Decree No. 50/2023 and under the provisions of Article 3-bis of Delegated Decree No. 117/2006 and subsequent amendments.
The fee chart will come into effect starting from the fiscal year 2024, and shall be applied to requests made by supervised entities starting from January 1, 2024. The total amount accrued over the year represents each supervised entity’s consumption-based contribution for the year, as outlined in the fee chart below.
As a result of the foregoing, the new calculation method for allocations can be summarised as follows:

OSC – OFF – OCF = RSC

OSC = Overall amount of superivision charges to be recovered.

OFF = Overall amount of fixed fees (FF) applicable to all supervised entities, including foreign authorised entities, according to Article 3 of D.D. no.117/2006.

OCF = Overall amount of consumption-based fees (CF) accrued during the year by requesting supervised entities according to Article 3 bis of D.D. no.117/2006, based on the current fee chart.

RSC = Residual amount of supervision charges to be allocated only among authorised San Marino entities according to Article 4 of D.D. no.117/2006, based on factors identified by CBSM in line with the Committee for Credit and Savings’ opinion. This amount equals the overall amount of variable fees (VF).

Starting from 2024, the annual fee for contributing entities will therefore be composed as follows:
a) authorised supervised entity: FF + CF + VF
b) other supervised entity: FF + CF
c) foreign authorised entity: ¼ FF 

Below is the fee chart for the year 2024 and onwards, without prejudice to any modifications that may be announced on this website, taking effect starting from the year following their publication.
 

CODE Request purpose Increase in consumption-based fee*
1 Legal opinion or response to a regulatory query € 1.500
2 Authorisation for statutory amendments € 1.500
3 Authorisation for the acquisition of corporate ownership € 1.500
4 Authorisation for extraordinary transactions € 2.000
5 Authorisation for new reserved activities (see Annex 1 LISF)
Letter A € 7.500
Letter B € 2.500
Letter C € 1.000
Letter D
              First investment service
              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 Authorisation for outsourcing € 1.500
7 Authorisation to release the informational prospectus € 1.500
8 Authorisation to manage the regulation of the mutual investment fund
UCITS € 500
non-UCITS € 1.500
9 Authorisation for purposes other than those listed above € 1.500
10 Publication of notices by supervised entities on the website € 100
11 Update of data on public online registers € 150
12 Technical assistance, exemption, or extension in relation to supervision reports € 500
13 Exemption or extension in a different area of supervision € 1.000
14 Correction of an incorrect supervision report ** € 100
15 Delayed supervision report *** € 100


In the event that the unified subject of the request involves multiple activities among those listed, the higher fee relating the most significant activity will be applied. No aggregate of the respective fees will therefore be conducted.

** Any resubmission of supervision reports, whether initiated by the supervised entity or requested by CBSM (except for reports addressing database upload blocking errors), even if performed within the original submission deadlines. Reports specified in Circular 2015-02 include: modifications to the amounts, for each individual registered with the Central Credit Register, regardless of the number of accounting dates involved; cancellation of monthly risk; status change, provided that the reports are intended for the purpose of modification or cancellation; amendments to personal data to rectify inaccuracies.

*** Any report submitted past the submission deadline, unless a prior exemption or extension has been obtained upon substantiated request. Reports mentioned in Circular 2015-02 include status change reports for loan losses submitted beyond 5 working days following the occurrence date.


Date: 19/09/2023