SMV announces virtual attention for the initiation of administrative procedures and enables a mechanism for the electronic receipt of applications and documents for those who do not have access to the MVNET.
Through its website, the SMV has made public the update to April 20 of this document called “Frequently asked questions to the SMV as a result of the declaration of the State of Emergency”, through which it announces that it is possible to start administrative procedures by electronic means, for example for the attention of applications (e.g. registration of programs, securities, etc.). This implies a modification to the message issued in previous communiqués, regarding the fact that the attention to the public was suspended during the validity of the State of Emergency.
By means of this update, the SMV specifies that, with the limitations of remote work, it shall be able to know and process the applications submitted by the applicants, and may also issue acts and resolutions, although only in those procedures of its Single Text of Administrative Procedures (TUPA) that are linked to the “essential services and goods” referred to in paragraph g) (“Financial institutions, insurance and pensions, as well as the complementary and related services to ensure their proper functioning”) and paragraph m) (“Any other activity of a similar nature to those listed in the previous paragraphs or that must be carried out due to act of God or force majeure”) of section 4. 1 of Supreme Decree No. 044-2020-PCM, which decreed the State of Emergency. Among the latter procedures, the SMV expressly refers to the registration and exclusion of securities from the Public Registry of the Stock Market.
For those applicants who do not have access to the MVNET system (which is used for the exchange of information between supervised entities, the SMV and other securities market entities), the SMV announces the availability of the internet communication system called SMV Virtual, whose access is available at the SMV website (www.smv.gob.pe).
The document also specifies that the risk rating companies maintain the duty to monitor the risk ratings granted to the debt securities placed in the public offering.
This communication has been prepared by the banking and financial area of Rodrigo, Elías & Medrano Abogados.
