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Asian Investment Desk
Banking and Finance
Banking Regulation
Capital Markets
Corporate and Commercial
Corporate Compliance
Energy
Environmental
ESG | Environmental, Social and Governance
Fintech
Fishery
Forestry
Immigration
Infrastructure and Concessions
Insurance and Reinsurance
Intellectual Property
International Trade and Customs
Labor & Employment
Life Sciences
Maritime and Aviation
Mergers and Acquisitions
Mining
Oil & Gas
Privacy and Data Protection
Project Development
Project Finance
Public Law
Public Procurement
Public Services Regulation
Real Estate Investment
Restructuring and Insolvency
Tax
Telecom, Media & Technology (TMT)
Venture Capital and Entrepreneurship
Water Resources and Sanitation
Wealth Management
Newsletter
Capital and Financial Market Newsletter - june 2025
Themes
July 1, 2025
SMV Regulations
The Superintendency of the Securities Market (SMV) is amending the Common Regulations for entities requiring SMV authorization for organization and operation, approved by SMV Resolution No. 039-2016-SMV/01 ("Common Regulations"). Through SMV Resolution No. 009-2025-SMV/01, published in the Official Gazette "El Peruano" on June 13, 2025, the SMV approved the amendment to the Common Regulations to establish specific regulatory exceptions for collective fund management companies (CFMCs), as described below:
- CFMCs that are incorporated or adopt the form of a closed corporation are not required to have a board of directors.
- CFMCs are exempt from the requirement to have independent directors on their boards.
- CFMCs are not required to report the appointment or dismissal of their independent directors.
- In the case of EAFCs that have a board of directors, the requirement that the positions of chairman of the board and general manager be held by different individuals will not apply.