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Capital and Financial Market Newsletter - July 2024

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May 31, 2024

SMV Rules

The Securities Market Superintendence (“SMV”) approves new Provisions for the exercise of the use of the floor to be made through the electronic platform by the administered parties, in the processing of administrative sanctioning procedures and others (“Provisions”). By means of Resolution SMV N° 008-2024-SMV/01, published in the Official Gazette “El Peruano” on July 6th of this year, such entity approved the Provisions, which mainly establish the following:

Rules are established, which will be in force from July 08, 2024 to September 30 of the same year, so that the administered parties may exercise the right to the use of the floor before the administrative authority in a non-presential manner in administrative sanctioning proceedings, and for the taking of statements, by the SMV, within or outside investigation processes.
The Provisions are adopted in response to the difficulties that may arise for the performance of face-to-face proceedings, due to the temporary change of the SMV's institutional headquarters.
Thus, different rules are established depending on the following cases:
- Administrative proceedings in first instance or single instance.
- Appeals for reconsideration against sanctions imposed in the first instance or in a single instance.
- Appeals processed in the second administrative instance.
The aforementioned rules shall also apply, as applicable, for the taking of statements within or outside investigation proceedings, in the virtual hearings convened by the SMV for such purpose.
The minimum technical specifications of the equipment and communications with which the person administered must have in order to be able to speak or make his statement in a non face-to-face manner are approved.

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SMV Rules