Alert

Capital Markets Newsletter - October 2026

For more information, contact:

Themes

October 29, 2026

SMV publishes new Code of Good Corporate Governance and Sustainability

The Superintendence of the Securities Market (“SMV”) published the new Code of Good Corporate Governance and Sustainability for Peruvian Companies (the “Code”).

The Code updates good corporate governance practices based on Peruvian experience and takes into consideration the OECD and G20 Principles of Corporate Governance, CAF guidelines, and IFC’s approach to climate-related risks and opportunities. Its approach seeks to adapt these references to the circumstances of each company and promote convergence with international standards in the context of stock market integration with Chile and Colombia.

The main implications are as follows:

Voluntary application: The Code maintains its voluntary adherence and informed self-regulation approach, preserving the “comply or explain” principle.
Sustainability and governance: Its 42 principles strengthen shareholder protection, the roles of the board of directors and senior management, comprehensive risk management, and transparency. They incorporate sustainability as a distinct pillar and introduce guidelines on data governance, including principles relating to cybersecurity and artificial intelligence.
Different business realities: Complementary principles are included for state-owned enterprises, family businesses, economic groups, and start-ups. Although the Code primarily draws on standards applicable to companies whose securities are publicly offered, it allows for proportionate and flexible adoption by companies of different sizes, natures, and stages of development.

Menu

For more information, contact:

Themes

SMV publishes new Code of Good Corporate Governance and Sustainability