Superintendence of the Stock Market (“SMV”) amends the Regulation against Market Abuse – Rules on Insider Trading and Market Manipulation, adopted by Resolution SMV Nº 005-2012-SMV/01 (“Regulation”). Through Resolution SMV Nº 028-2022-SMV/01, published in the Official Gazette El Peruano on November 30, 2022, the SMV amended the Regulation to prohibit directors and managers of issuers from carrying out transactions with securities issued by such issuers through portfolio management, as well as to establish certain obligations in connection with the aforementioned prohibition.
For further information, please refer to our Alert at the following link: https://www.estudiorodrigo.com/alerta-mercado-de-capitales-y-financiero-noviembre-2022-2/.
SBS Standards
Superintendence of Banking, Insurance and Private Pension Fund Administrators (“SBS”) modifies the rule that regulates the procedure for handling requests for lifting bank secrecy, adopted by Resolution SBS Nº 1132-2015 (“Rule”). Through SBS Resolution Nº 03348-2022, published in the Official Gazette El Peruano on November 8, 2022, the SBS amended the Rule, mainly in order to include the power of the Superintendent of the SBS to request the lifting of bank secrecy for the specific purposes of financial intelligence, as well as to establish the form and channels for sending the information requested by the Superintendent for such purposes, by the supervised companies.
For further information, please consult our Alert at the following link: https://www.estudiorodrigo.com/alerta-mercado-de-capitales-y-financiero-noviembre-2022/.
SBS amends Circular Nº B-2087-2001 on Interest Rate Risk Management and presentation of Annex No. 7 “Interest Rate Risk Measurement” (“Circular”). By means of Circular B-2262-2022, published in the Official Gazette El Peruano on November 10, 2002, the SBS replaced the text of numeral 1 of the Circular to specify that it applies to the banking companies included in literal A and to the companies included in literal C of Article 16 of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendence of Banking and Insurance, Law Nº 26702, Banco de la Nación, Banco Agropecuario (AGROBANCO), Corporación Financiera de Desarrollo (COFIDE), Fondo MIVIVIENDA and Investment Banks, subject to the provisions of the special regulations applicable to them. It must be recalled that the Circular establishes the duty of such entities to manage the interest rate risk to which they are subject.
SBS amends the Regulation of Infractions and Sanctions of the Superintendency of Banking, Insurance and Private Pension Fund Administrators, adopted by SBS Resolution Nº 2755-2018 (“Regulation of Infractions and Sanctions”). By means of SBS Resolution Nº 03349-2022, published in the Official Gazette El Peruano on November 11, 2022, the SBS amended the Regulation of Infractions and Sanctions to include the typification corresponding to infractions of non-compliance by Municipal Savings and Credit Banks (Cajas Municipales de Ahorro y Crédito – CMAC), Cajas Municipales de Crédito Popular (CMCP) and Private Institutions Specialized in Microfinance (IEM Privadas), of commitments assumed under the Operating Regulations of the Equity Strengthening Program for Institutions Specialized in Microfinance, provided by Emergency Decree Nº 037-2021.
