The Superintendency of the Securities Market («SMV«) approves a modification to the Sanctions Regulations, approved by SMV Resolution No. 035-2018-SMV/01 («Sanctions Regulations»)
Through SMV Resolution No. 005-2025-SMV/01, published on February 4, 2025, in the Official Gazette «El Peruano,» the SMV modifies Article 18 of the Sanctions Regulations, primarily to bring it into line with the provisions of Legislative Decree No. 1683, which establishes longer deadlines than those generally provided for in Law No. 27444, the General Administrative Procedure Law, for the handling of administrative appeals filed in administrative sanctioning procedures («PAS«) classified as «highly complex» by the SMV.
Furthermore, regarding administrative appeals filed in the Administrative Procedure Code (PAS) filed with the SMV, the amendment establishes the timing of requests for the floor, the suspension of the time limit if the floor is granted, and the elimination of the notification of the report containing the opinion on the appeal, issued by the respective support body.
The SMV authorizes CAVALI S.A. I.C.L.V. («CAVALI») to provide the service of selling value-added information on Negotiable Invoices recorded in the Accounting Registry maintained by said entity, as a related and complementary activity.
Through SMV Resolution No. 004-2025-SMV/01, published on February 4, 2025, in the Official Gazette «El Peruano,» the SMV authorized CAVALI to offer the indicated service as a related and complementary activity to those established in Article 223 of the Consolidated Text of the Securities Market Law, approved by Supreme Decree No. 020-2023-EF («TUO LMV«).
The information will be available through a digital platform, where users will be able to download reports generated based on objective criteria for scoring the performance of purchasers (those obligated to pay the Negotiable Invoices).
The regulation establishes that the information contained in these reports cannot contravene the confidentiality obligation established by the TUO LMV (Constitutional and Commercial Law) and applicable regulations, nor other regulatory provisions on confidentiality of information and protection of personal data, as applicable.
The SMV modifies the Regulation on Contributions by SMV Supervisory Services, approved by CONASEV Resolution No. 095-2000-EF/94.10 («Regulation«).
By means of SMV Resolution No. 002-2025-SMV/01, published on February 3, 2025 in the Official Gazette “El Peruano”, the SMV modified the Standard to specify the tax base for determining the SMV contribution applicable to issuers of securities representing share capital, in the case of junior mining companies referred to in the Regulations of the Venture Capital Segment of the Lima Stock Exchange, approved by CONASEV Resolution 026-2005-EF/94.10, and of foreign issuers of securities, whose securities do not have nominal value.
The Superintendency of Banking, Insurance, and Private Pension Fund Administrators («SBS«) modifies the Insurance Company Investment Regulations, approved by SBS Resolution No. 1041-2016 («Insurance Company Investment Regulations«) and other regulations.
By SBS Resolution No. 556-2025, published on February 14, 2025, the Superintendency of Banking, Insurance, and Private Pension Fund Administrators (SBS) modified the Insurance Company Investment Regulations to, among other things, establish clarifications in aspects such as:
SBS authorizes publication of a draft amendment to the Accounting Manual for Companies in the Financial System, approved by SBS Resolution No. 895-98.
By notice dated February 11, 2025, the SBS authorized the dissemination of the draft amendment for public comment.
