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Capital Markets Newsletter - September 2025
Themes
SMV REGULATIONS
The Superintendency of Securities Market (SMV) approves amendments to the Report on Compliance with the Code of Good Corporate Governance for Peruvian Companies, (CBGC Report). By means of SMV Resolution No. 014-2025-SMV/01, published in the Official Gazette El Peruano on September 18, 2025, the SMV approved certain amendments to the CBGC Report to require more information about:
- The criteria used by the issuer to determine the compensation scheme for the members of the Board of Directors; and,
- The criteria for the appointment, training, and evaluation of the members of the Audit Committee.
For further information, please see our alert on this matter.
SBS REGULATIONS
The Superintendency of Banking, Insurance, and Private Pension Fund Administrators (“SBS”) updates the maximum coverage amount of the Deposit Insurance Fund for the quarter September 2025 - November 2025. Through Circular B-2276-2025, F-614-2025, CM-463-2025, CR-330-2025, published in the Official Gazette El Peruano on September 5, 2025, the SBS established the maximum coverage amount recognized by the Deposit Insurance Fund during the period September 2025 - November 2025 at S/ 118,300.
SBS DRAFTS
SBS approves dissemination of draft resolution amending the Regulations for the Temporary Performance of Activities in Innovative Models, approved by SBS Resolution No. 2429-2021. Through a notice published on September 22, 2025, on the SBS website, the entity published the aforementioned draft, which proposes to expand the scope of application of the aforementioned regulations to allow legal entities not supervised by the SBS to submit proposals aimed at conducting temporary tests of innovative models with potential application in the systems supervised by the aforementioned entity. The draft establishes the regime to which such unsupervised legal entities would be subject and also proposes to amend the SBS TUPA to include a procedure for “Authorization to carry out temporary activities in innovative models.”