SBS Resolution N° 2157-2020: Modifying the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Resources from the Public and Centrals and Various Procedures in the SBS Administrative Procedures Text

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 Lima, September 4, 2020 S.B.S. Resolution N° 2157-2020

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators
CONSIDERING:
That, Law N° 30822 modified the General Law of the Financial System and of the Insurance System and Organic Law of the Superintendency of Banking and Insurance - Law N° 26702 and its amendatory norms, hereinafter General Law, substituting the Twenty-Fourth Final and Complementary Provision, referring to Savings and Credit Cooperatives Not Authorized to Capture Resources from the Public; That, paragraph 9 of the Twenty-Fourth Final and Complementary Provision of the General Law establishes that the Superintendency of Banking, Insurance and Private Pension Fund Administrators, hereinafter the Superintendency, approves the norms applicable to the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Resources from the Public, hereinafter Coopac Registry; That, paragraph 9 of the Twenty-Fourth Final and Complementary Provision of the General Law also provides that Savings and Credit Cooperatives Not Authorized to Capture Resources from the Public, hereinafter Coopac, are obliged to register in the Coopac Registry; That, likewise, paragraph 9 establishes that said Registry is under the responsibility of the Adjunct Superintendency of Cooperatives of the Superintendency and, by virtue thereof, it is necessary to regulate aspects linked to it; That, through SBS Resolution N° 4977-2018, the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Resources from the Public and of the Centrals was approved, which consolidated the impediments applicable to directors and managers of the Coopac, specified the procedure and deadlines for correction and registration, established the cases of exclusion from the Coopac Registry, as well as regulated the adequate dissemination of the registered Coopac, for transparency and knowledge of the respective members; That, from the experience obtained in the registration process of Coopac and Centrals, it is necessary to modify the registration procedure in the Coopac registry, with the purpose that at the moment of granting them the corresponding registration, the Coopac or Centrals are in the capacity to comply with the minimum supervision requirements, and the directors have knowledge of their responsibilities as managers of a Coopac or Central, which will strengthen and consolidate the cooperative savings and credit system;

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 That, in order to collect the opinions of the general public regarding the regulatory proposal, the pre-publication of the draft resolution on the matter was arranged on the electronic portal of the Superintendency, under the provisions of the Thirty-Second Final and Complementary Provision of the General Law, paragraph 2 of the Fifteenth Final Complementary Provision of Law N° 30822 and Supreme Decree Nº 001-2009-JUS; Counting with the prior technical report and positive viability of the norm of the Adjunct Superintendency of Cooperatives and with the approval of the Adjunct Superintendencies of Cooperatives and Legal Advice and; In use of the attributes conferred by paragraphs 7 and 9 of
article 349 of the General Law, as well as in paragraphs 4-A and 9 of the Twenty-Fourth Provision
Final and Complementary of the General Law;
RESOLVES:
Article 1.- Substitute paragraphs 3.5 and 3.7 of article 3, article 5, the
article 7, paragraph 7 of paragraph 8.1 of article 8, article 9, as well as the Sole Transitional
Complementary Provision of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Resources from the Public and of the Centrals approved by SBS Resolution N° 4977- 2018, for the following:
Article 3.- Obligation of registration in the Coopac Registry
(…)
3.5 To the Centrals the modular level is assigned according to the total amount of their assets, or a modular level
superior to that of the Coopac with the highest level that is a member, but if the Central has as a member any Coopac of level 3, the Central is assigned to that same level; whichever is greater. Whatever the level modular that is granted to them, the Centrals begin their activities with the level of operations that corresponds to the total amount of their assets at the moment of their registration in the Coopac Registry, without prejudice of the prior authorizations that correspond. (…)
3.7 For the registration of the Coopac and the Centrals in the Coopac Registry to proceed, these must
comply with the requirements and conditions established in this Regulation, accrediting that their directors and managers are not included in the impediments provided for in article 6, that they know the cooperative principles and the norms applicable to the Coopac, as well as demonstrate solvency and the technological and operational conditions necessary to carry out the authorized operations.
Article 5.- Requirements for registration in the Coopac Registry
5.1 The requirements for registration in the Coopac Registry are the following:

1. Registration request signed by the legal representative of the Coopac or Central in which it is
   specified or to which the following is attached:
   (i) Full name, national identity document number (DNI), email and telephone of the legal representative.

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 (ii) Number of the registry entry of the Coopac or Central and date of registration in the Public Registry. (iii) The name of the Coopac or Central. The name of the Coopac or Central must not induce thinking that its activity comprises operations that can only be carried out with authorization from the Superintendency and/or under its supervision, or that correspond to the various types of entities that comprise the system financial. (iv) RUC number of the Coopac or Central. (v) Type of organization: Coopac or Central (vi) Domicile, telephone and email of the Coopac or Central. (vii) Full name, national identity document number (DNI), position, date of election in Assembly and election period, of the directors of the Coopac or Central. (viii) Full name and national identity document number (DNI) of the general manager of the Coopac or Central. (ix) Sworn declaration signed by the legal representative of the Coopac or Central, on behalf of the Coopac or Central, in which it is stated that the directors and general manager of the Coopac or Central are not included in impediments provided for in article 6 of this Regulation. (x) Sworn declaration signed by each of the directors and general manager of the Coopac or Central, of not being included in impediments provided for in article 6 of this Regulation. Likewise, sworn declaration signed by each of the directors that they know the cooperative principles and the norms applicable to the Coopac. (xi) Sworn declaration signed by the general manager that meets the technical suitability requirements that qualify them to perform the position, that knows the cooperative principles and the norms applicable to the Coopac. The technical suitability requirements that are referred, as minimum, to studies and/or experience, must keep concordance with the level of the Coopac according to the modular scheme established in paragraph 2 of the Twenty-Fourth Provision Final and Complementary of the General Law. (xii) Total number of Members of the Coopac or Central; and list of members and contributions, according to the Register of Members and according to Annex N°1. (xiii) Sworn declaration on the origin of the contributions (ordinary, extraordinary or other type) by each member, according to Annex N°2. Likewise, sworn declaration signed by the representative legal of the Coopac or Central that the real estate assets contributed as capital comply with what is established in paragraph 27.2 of article 27 of the General Regulation of the Coopac. (xiv) Simple copy of the lease contract or title of ownership of the main office, in the name of the Coopac or Central. In case the asset and the title are registered in the Public Registries, it is sufficient to inform the number of the registry entry of the property. (xv) Sworn declaration that during the registration process in the Coopac Registry they are not carrying out operations contemplated in
the Coopac Law. (xvi) Report prepared and signed by the Accountant and the General Manager of the Coopac or Central and two (2) members of the Board of Directors of the Coopac or Central that has a support technological that allows at least to emit reports of the accounting information and of operations, according to the modular level of the Coopac or the Central. (xvii) Simple or certified copy of the Opening Folio of Minutes Books of the Boards of Administration, Supervision and Electoral Committee and of the Minutes Book of the General Assembly. (xviii)Statement of Financial Position duly signed by the Accountant and the General Manager of the Coopac or Central and two (2) members of the Board of Directors current updated to the date of

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 sending of the registration request, according to the forms of the Accounting Manual applicable to the Coopac or Central. (xix) Report of the detail of the economic resources (amounts, accounts where the resources are deposited in the name of the Coopac or Central, conditions of the accounts, among others) with which the Coopac or Central counts for the management of its operations. (xx) Total number of Offices of the Coopac or Central, with their respective addresses. If the Coopac to register has been constituted from the entry into force of the Coopac Law, it cannot count on the date of its registration with branches nor offices outside the region where it is located its main office. (xxi) Balance of Assets, Balance of Liabilities and Balance of Equity of the Coopac or Central. The Information required in items xii), xx) and xxi) must have a maximum age of twenty (20) business days regarding the date of its presentation, which is subject to verification by the Superintendency. The Superintendency proceeds to carry out a verification of the existence and validity of the information before mentioned in the main office of the Coopac or the Central applicant.
2. Declaration signed by the legal representative in which it is stated that the Coopac or Central and its
members, directors and general manager, will comply and subject themselves to the provisions issued by the Superintendency, and that, in such sense, the directors, managers, main officials and workers can be liable for the imposition of sanctions, according to what is stated in paragraph 6.3. of the Coopac Law.
5.2 The registration procedure in the Coopac Registry can be initiated through the virtual channel that the
Superintendency establishes. The Superintendency makes available to all interested parties, through the virtual channel the forms and fields that must be filled by the legal representative of the Coopac or Central, as well as the use guides. As long as it is not possible to present the documents required in the paragraph 5.1 by electronic means, the Coopac or Central must present them in physical means to the Superintendency.
5.3 The legal representative must grant express authorization for the use of email for purposes
of notifications and exchange of information by electronic means.
5.4 In case of registration procedure by physical means, the Coopac or Central presents to the
Superintendency its registration request and the requirements specified in paragraph 5.1.
5.5 The Coopac or Centrals must have their social statute approved by this Superintendency, before
requesting their registration in the Public Registries and in the Coopac Registry.
5.6 Under no motive proceeds the registration of a Coopac or Central that is in cause of
intervention or dissolution established in the Regulation of Special Regimes and of the Liquidation of the Savings and Credit Cooperatives not authorized to capture resources from the public.
Article 7. Registration procedure in the Coopac Registry
7.1 The Superintendency accepts or denies the registration in the Coopac Registry. The result is notified to the
Coopac or Central applicant, within thirty (30) business days following the verification in situ of the compliance of the requirements presented by the Coopac or Central applicant, or of the lifting of the

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 observations that are made to it. The coordination communications between the Superintendency and the applicant can be carried out by email to the electronic address that had been entered in the registration request file, provided that the Coopac or Central applicant has manifested its authorization to use said means of notification, according to law. In case of requiring the change of email, the legal representative of the Coopac must send a request for the change, according to Annex N° 3.
7.2 In case that at the moment of the presentation of the request, the information or documentation is
incomplete, the Coopac or Central applicant must correct the delivery of the information or missing documentation in a maximum period of two (2) business days. If the correction does not occur in the period mentioned above, the Superintendency considers the file as not presented. In case the Coopac or Central applicant wishes to request its registration again, it must initiate again the registration procedure in the Coopac Registry.
7.3 Those Coopac or Centrals that are not under the assumption of the Sole Transitional
Complementary Provision of this Regulation, can initiate again the procedure of registration in the Coopac Registry, in case it corresponds for having been considered as not presented the file in application of paragraph 7.2. of this article, provided that they are within the period of twenty (20) business days, counted from the day after its registration in Public Registries, indicated in paragraph 9.2 of the Twenty-Fourth Final and Complementary Provision of the General Law.
7.4 The information indicated in paragraph 5.1 of this regulation or another that requires the
Superintendency is verified in the main office declared by the Coopac or Central, which must be available to the Superintendency, under warning of denying the registration.
7.5 In case the Superintendency, after carrying out the review of the file, determines that the
documentation presented does not adjust to what is required, preventing the continuation of the procedure, the which by its nature could not be noticed at the moment of its presentation, as well as if it results necessary an action of the administered to continue with the procedure, the administered is summoned immediately so that it carries out the corresponding correction in the period that is granted for such effect. If the applicant does not comply with the correction, it is communicated to the Coopac or Central applicant the denial of its registration in the Coopac Registry, archiving the file, if no resource has been presented. The Coopac or Central applicant can request its registration again, for which it must initiate again the registration procedure in the Coopac Registry, provided that the conditions indicated in paragraph 7.3 of this article are met.
7.6 The registration in the Coopac Registry only implies the compliance of the entry requirements to the
Registry established in this Regulation.
7.7 As long as the registration process in the Coopac Registry lasts, the Coopac or Centrals applicants
cannot carry out any operation authorized by the Coopac Law, under warning of denying the registration and without prejudice of the administrative actions that the Law empowers.
Article 8. Exclusion from the Coopac Registry
8.1 The Coopac or Centrals are excluded from the Coopac Registry in the following cases:
(…)
7. Dissolution of the Coopac or Central, in the cases that establish the Coopac Law and the regulations
issued by the Superintendency. Treating of the cause of inactivity provided for in paragraph 5-A.6 of the

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 Twenty-Fourth Final and Complementary Provision of the General Law, this is understood when any of the following conditions are accredited in the Coopac or Central:
i) does not comply with sending its financial statements according to the Accounting Manual approved by SBS Resolution N° 577-2019 and its amendatory ones: in the case of those that send by periods quarterly when they fail for two (2) consecutive periods in the period of one (1) year or four (4) alternating periods in period of two (2) years; and in the case of those that send by periods monthly when they fail for six (6) consecutive periods in the period of one (1) year or twelve (12) alternating periods in the period of two (2) years; ii) closes its main location without giving account to the Superintendency for a period of fifteen (15) days calendar continuous, or thirty (30) days calendar discontinuous in the period of one (1) year; and iii) closes its offices and branches without knowledge or authorization of the Superintendency for a period of fifteen (15) days calendar continuous, or thirty (30) days calendar discontinuous in the period of one (1) year.
Article 9. Publication of information of the Coopac Registry
The Superintendency publishes, on its web page, the list of the Coopac that are already registered and the level to which they have been assigned. SOLE TRANSITIONAL COMPLEMENTARY PROVISION SOLE.- The Coopac that are in process of dissolution and liquidation in process before the Judicial Power without any sentence, must subject themselves previously to what is established in the Sixth Provision Complementary Transitional of the Coopac Law, and in the Procedure applicable to the Cooperatives of Savings and Credit not authorized to capture resources from the public that on January 1, 2019 are with request, presented by the Superintendency, of dissolution and liquidation in process before the Judicial Power without that sentence has been issued approved by SBS Resolution N° 034-2019. In this assumption the period of ninety (90) calendar days to which refers the Second Provision Complementary Transitional of the Coopac Law does not apply. According to what is established in article 8 of the procedure before mentioned, in case the Superintendency has verified the lifting of the cause or causes that determined the request of dissolution and liquidation presented before the Judicial Power, the Coopac counts with a period of thirty (30) business days, from the communication that the Superintendency makes to it, to present its request of registration to the Coopac Registry. For this the Coopac to which refers the previous paragraph must take into account what is established in the article 5 of this Regulation and comply with the requirements to which refer the items i) to xiv), and xvi) to xxi) of paragraph 1 and paragraph 2 of paragraph 5.1 of article 5 of this Regulation. Likewise, they must present Balance of credits, Balance of deposits and Amount of provisions constituted by credit portfolio of the Coopac. The Information required of the items xii), xx) and xxi) of paragraph 1 of paragraph 5.1 of article 5 of the this Regulation and the information on credits, deposits and provisions before mentioned, must have a maximum age of two (2) months regarding the date of its presentation, which is subject of verification by the Superintendency. During the registration process in the Coopac Registry, the Coopac to which refers this provision can continue operating, for the operations that do not require authorization, taking into account what

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 established in the Third Provision Complementary Transitional of the Coopac Law and in the Regulation General of the Coopac.
Article 2.- Render without effect the Sole Final Complementary Provision
of the Regulation of the National Registry of Savings and Credit Cooperatives Not Authorized to Capture Resources from the Public and of the Centrals approved by SBS Resolution N° 4977-2018.
Article 3.- Modify the procedure N° 178 "Registration in the
National Registry of Savings and Credit Cooperatives not authorized to capture resources from the public and of the Centrals" and incorporate the procedure N° 193 "Authorization for approval and modification of the statute of the Savings and Credit Cooperatives not authorized to capture resources from the public and of the Centrals" according to paragraph 4.3. of article 4 of the "General Regulation of the Cooperatives of Savings and Credit Not Authorized to Capture Resources from the Public", approved in SBS Resolution N°480-2019 and its amendatory ones, in the Single Text of Administrative Procedures of the Superintendency of Banking, Insurance and Private Pension Fund Administrators, approved through Resolution Nº 1678- 2018, whose text is annexed to this resolution and is published on the institutional portal (www.sbs.gob.pe).
Article 4.- This resolution enters into force the day after its
publication and the provisions of the Regulation modified by article 1 of this resolution are applied to the registration processes in the Registry that are in process on the date of entry into force of this Resolution. Register, communicate and publish. SOCORRO HEYSEN ZEGARRA Superintendent of Banking, Insurance and Private Pension Fund Administrators

Los Laureles N° 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239
Annex N° 1
List of Members and Contributions
N° Names and
Surnames
DNI or
RUC
Domicile
Address Occupation
Telephone and/or email
Work
Center
Amount of the
Contribution
% contribution to Capital initial
Position as
Director ()
() Name of the position at the time of creation.

Los Laureles No. 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239

Annex No. 2
Declaration of Source of Contributions ()
I________________________________________, identified with DNI No. , and Member registration No. ______________ of the Savings and Credit Cooperative not authorized to capture resources from the public , declare that the contribution (ordinary, extraordinary, other type of contribution) amounting to the sum of S/. comes from___________________________________. In case of failing the veracity of what is declared, I submit to the administrative, civil or criminal responsibilities, that correspond. Sincerely, Signature __________________________ FULL NAME DNI NUMBER () Refers to members' contributions, ordinary, extraordinary and other type of contribution.

Los Laureles No. 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239

Annex No. 3
Declaration of Authorization for use of email
I________________________________________, identified with DNI No. _____________, with position of _________________ in the Savings and Credit Cooperative not authorized to capture resources from the public ___________________, I expressly authorize that, as part of the administrative procedures initiated at the Superintendence of Banking, Insurance and Private Pension Fund Administrators (SBS), any decision or requirement be notified or communicated to me through the following email: _____________________________. The previous authorization is based on numeral 20.4 of article 20 of the Consolidated Text of Law No. 27444 – General Administrative Procedure Law, approved by Supreme Decree No. 004-2019-JUS. Sincerely, Signature __________________________ FULL NAME DNI NUMBER