ALERT - INSURANCE
By means of Resolution SBS No. 02721-2024, published in El Peruano on August 2, 2024, the Superintendence of Banking, Insurance and Private Pension Fund Administrators (“SBS”) modified the Regulation for the authorization of companies and representatives of the Financial and Insurance Systems, Resolution SBS No. 00211-2021
The SBS specified the requirements applicable to Credit Companies as follows:
1. Credit Companies are not obliged to communicate the SBS questionnaire
The regulation expressly states that the obligation of the organizers to accredit the communication to the supervisor of origin that the latter will receive a questionnaire from the SBS on aspects of consolidated supervision does not apply to the Credit Companies.
2. Information on economic group applicable to Credit Enterprises
In case the shareholders of the Credit Companies belong to an economic group, the organizers must submit, together with the organization application, the following information regarding the economic group to which they belong:
- Brief outline of the background of the economic group, the list of the legal persons and/or legal entities that comprise it and main activities, indicating whether they operate under the supervision of a control body.
- Diagram showing the conformation of the economic group and including all the legal persons and legal entities or vehicles that comprise it, whether or not they are financial entities, and the relationships between them.
- The list of significant owners of the members of the economic group and their beneficial owners and the number of shares or percentage interest held in them.
- A list of the beneficial owners of the members of the economic group that are not significant owners.
For further information, please contact Guillermo Puelles (gpuelles@estudiorodrigo.com) and/or Fiorella Bustamante (fbustamante@estudiorodrigo.com).
