Resolution SBS No. 5709-2012: Approval of Special Norms for the Prevention of Money Laundering and Terrorist Financing Applicable to Notaries

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 1 Derogated by Resolution SBS No. 1754-2024, except for Chapter II of Title II regarding the Register of Operations.
Lima, August 10, 2012
S.B.S. Resolution
No. 5709-2012
The Superintendent of Banks, Insurance, and Private Pension Fund Administrators CONSIDERING:
That, through Law No. 27693 and its modifying regulations, the Financial Intelligence Unit of Peru (UIF-Peru) was created, responsible for receiving, analyzing, processing, evaluating, and transmitting information for the detection of money laundering and terrorist financing, for which purpose a list of obligated subjects to report was established, which involves implementing a System for the Prevention of Money Laundering and Terrorist Financing, which includes -among other aspects- reporting on suspicious operations and designating a Compliance Officer duly accredited with UIF-Peru; That, through Law No. 29038, the incorporation of UIF-Peru into the Superintendency of Banks, Insurance, and Private Pension Fund Administrators (SBS) was ordered, as a specialized unit, so that the SBS, in addition to its own functions, has assumed the competencies, attributions, and functions that corresponded to said institution; That, according to what is established in article 9º-A of Law No. 27693, incorporated by the Fifth Complementary Modifying Provision of Legislative Decree No. 1106, “Legislative Decree for effective fight against money laundering and other crimes related to illegal mining and organized crime”, Public Notaries are under the supervision of the SBS, through UIF-Peru, in matters of prevention of money laundering and terrorist financing; That, likewise, in accordance with what is provided by article 3º of Law No. 27693, modified by the First Complementary Modifying Provision of the aforementioned Legislative Decree No. 1106, it is the function and faculty of the SBS, through UIF-Peru, to regulate, in coordination with the supervisory bodies of the obligated subjects, the general and specific guidelines, requirements, clarifications, sanctions, and other aspects related to the prevention systems of the obligated subjects to report and of the Reports of Suspicious Operations and Register of Operations, as well as to issue models of Codes of Conduct, Manual for the Prevention of the Crime of Money Laundering and Terrorist Financing, Format for the Register of Operations, among others, in accordance with the scope of what is provided in said Law and its Regulations; That, in this context, it is necessary to approve the Special Norms for the Prevention of Money Laundering and Terrorist Financing for Notaries of the Republic of Peru, including the formats for the Register of Operations (RO) and the Report of Suspicious Operations (ROS), which allows these professionals to comply with the obligations established in Law No. 27693, its modifying and regulatory norms; Being in accordance with the opinion of the Financial Intelligence Unit of Peru and the Adjunct Superintendency of Legal Advice; In exercise of the attributions conferred by Law No. 29038 and Law No. 26702, in concordance with Law No. 27693 and its modifying regulations; RESOLVES:
Article First.- Approve the “Special Norms for the Prevention of Money Laundering and Terrorist Financing applicable to Notaries”, which are transcribed below:

“SPECIAL NORMS FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING APPLICABLE TO NOTARIES TITLE I GENERAL PROVISIONS
Article 1º.- Scope
These norms are applicable to Notaries of the Republic of Peru in exercise, in accordance with what is provided by Legislative Decree No. 1049, Notary Law, its modifying, complementary, and regulatory norms.
Article 2.- Objective
These special norms have the object that Notaries, as obligated subjects of the prevention system for the crimes of ML/TF, have norms for the compliance of their obligations within the current regulatory framework.
Article 3º.- Definitions and abbreviations
The Notary must consider the following definitions for the application of these norms:
a) Beneficial owner: Any natural person who, without necessarily having the status of client, is the owner or recipient of the good or service provided by the obligated subject, or is authorized or empowered to dispose of them. b) Good judgment: The discernment or judgment that the obligated subject forms from, at least, the knowledge of the client and the parameters notoriously applicable to the market. It encompasses the experience, training, and diligence of the obligated subject and its workers in the prevention of ML/TF. c) Client: Any natural or legal person, national or foreign, habitual or occasional, who requests and receives from the Notary the provision of their professional services as such. d) State: It is who recognizes, supervises, and guarantees that the notarial function is exercised based on the principles of defense of the common good, legal security in contracting and in legal traffic, truthfulness of facts, efficiency of service, and respect for legality. e) Terrorist Financing: Crime typified in literal f) of article 4º of Decree Law No. 25475 and its modifying regulations. f) ML/TF: Money laundering and terrorist financing.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 3 g) Money Laundering: Crime typified in Legislative Decree No. 1106, Legislative Decree for Effective Fight Against Money Laundering and Other Crimes Related to Illegal Mining and Organized Crime, and its modifying regulations. h) Law: Law that creates the Financial Intelligence Unit of Peru – UIF-Peru, Law No. 27693 and its modifications and others applicable. i) Manual: Manual for the Prevention of ML/TF. j) General Norms: Legislative Decree No. 1049 - Notary Law; Supreme Decree No. 010-2010-JUS - Unified Text of the Regulations of Legislative Decree No. 1049; Supreme Decree No. 015-85-JUS - Code of Ethics of the Peruvian Notariat; Law No. 26662 - Law on Notarial Competition in Non-Contentious Matters and its modifying regulations; Law No. 27333 - Complementary Law to Law No. 26662 for the Regularization of Buildings; Law No. 29227 - Law that Regulates the Non-Contentious Procedure of Conventional Separation and Subsequent Divorce in Municipalities and Notaries; Supreme Decree No. 012-2006-JUS - Norms for the Exercise of the Notarial Function in the Formalization of Acts Provided in the Law on Movable Guarantee and in the Sanitization of Interrupted Successive Title of Movable Goods; Supreme Decree No. 078-2006-EF - Regulations of the First Complementary Provision of Law No. 27333, Complementary Law of Law No. 26662; Supreme Decree No. 009-2008-JUS - Regulations of Law No. 29227 and others that regulate the exercise of the notarial function. k) Special Norms: Special Norms for the Prevention of Money Laundering and Terrorist Financing Applicable to Notaries. l) Notary: The legal professional, entrusted by delegation of the State, with a public function consisting of receiving and giving form to the will of the parties; drafts the appropriate instruments for that purpose, confers authenticity, preserves the originals, and issues the copies that bear witness to their content. Their function also includes the verification of facts and the processing of non-contentious matters provided for in the laws on the matter. m) Unusual Operations: Those whose amount, characteristics, and periodicity do not relate to the economic activity of the client; fall outside the parameters of normality current in the market or have no evident legal basis. n) Suspicious Operations: Those that involve any relevant information regarding the handling of assets or liabilities or other resources, whose amount or characteristics do not relate to the economic activity of their clients, or regarding transactions of their users that by their number, by the amounts transacted, or by their particular characteristics, could reasonably lead to suspect that the entity is being used to transfer, handle, take advantage of, or invest resources coming from criminal activities or destined for their financing. o) Politically Exposed Persons (PEP): those natural persons, national or foreign, who in the last
two (2) years hold or have held prominent public functions or prominent functions in an international organization, whether in national or foreign territory, and whose financial circumstances may be the object of public interest. 1 p) Regulations: Regulations of the Law that creates UIF-Peru, approved by Supreme Decree No. 020-2017-JUS. 2 q) SBS: Superintendency of Banks, Insurance, and Private Pension Fund Administrators. r) Obligated Subject: Natural or legal persons who have the obligation to implement a system of policies and procedures to prevent money laundering and terrorist financing, including the submission of information regarding suspicious or unusual operations, detected during the course of their activities, among others. For the purposes of these special norms, the Notary is considered an obligated subject. s) Worker: Any natural person who maintains a labor or contractual link with the Notary to contribute to the exercise of activities inherent to their function. t) UIF-Peru: Financial Intelligence Unit of Peru, specialized unit of the SBS.
Article 4º.- System for the prevention of money laundering and terrorist financing.
The ML/TF prevention system is composed of the policies and procedures established by the Notary in accordance with the Law, the Regulations, these Special Norms, and other provisions on the matter, to prevent and avoid that the services they provide are used for illicit purposes linked to ML/TF. The prevention system must be applied by the Notary, their workers, and in general, by all their administrative and operational organization. The application of the ML/TF prevention system must focus on the compliance with the objectives of detecting unusual operations and preventing and detecting suspicious operations, carried out or attempted, presumably linked to ML/TF, in order to communicate them to UIF-Peru. Notary Colleges may design a database or software(s) that facilitates the work of each of their members, in the implementation and launch of their ML/TF prevention system.
Article 5°.- Procedure and confidentiality of communications to UIF-Peru
All reports, registers, reports, and other communications, that according to these norms the Compliance Officer must send to UIF-Peru, will be identified only with the code or secret key assigned to them and to the obligated subject by the SBS, adopting measures that allow the confidentiality of the information and its senders. The Notary must be able to attend, within the deadline requested, the information requests or expansion of information made by the SBS, through UIF-Peru or another competent authority, in accordance with current regulations. The Notary, through their Compliance Officer, will reach UIF-Peru with the reports, Registers of Operations (RO) and Reports of Suspicious Operations (ROS), through the electronic means that the SBS establishes progressively. The communications referred to in these special norms are confidential, all those involved being impeded from informing any person that such information has been requested or provided to UIF-Peru, under the corresponding civil and criminal responsibilities.
Article 6º.- Annual training
The Notary and their workers must receive at least one annual training in matters of prevention and/or detection of ML/TF, in order to be instructed in the current regulations on the matter; the policies and procedures established for the compliance of their functions as part of the ML/TF prevention system; the typologies of ML/TF, particularly those that could be detected in the activities inherent to the notarial function; the alert signals to detect unusual operations; among other aspects that the Compliance Officer considers relevant.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 5 The training may be taught by third parties or specialized entities or by the Compliance Officer, through the physical or electronic medium or modality they consider convenient. The certificates must be incorporated into the personal files of those who have participated. New workers must be informed by the Compliance Officer about the scope of the ML/TF prevention system of the obligated subject, within thirty (30) days following their date of entry. The Compliance Officer is responsible for communicating to the Notary and all workers, the changes made in the regulation of the ML/TF prevention system. TITLE II SYSTEM FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

Chapter I
Knowledge of the client and the worker
Article 7º.- Clients
The representative will be considered as the represented, the agent as the principal, as well as the orderer (owner/bearer of the good or right) and/or beneficiary of the operations (acquirer or recipient of the good or right), if applicable.
A habitual client is one who requests or makes use of notarial services frequently, regardless of the amount involved in the act or contract. An occasional client is one who requests or makes use of them sporadically.
Article 8º.- Knowledge of the client, due diligence, and market knowledge
8.1 The knowledge of the client implies that this one is identified by the Notary, adequately and reliably, whether it is a habitual or occasional client, natural or legal person. The Notary will certify knowing them or having identified them, verifying their identity in accordance with what is provided in the general norms. The Notary may demand other documents and/or the intervention of witnesses to guarantee their adequate identification, when they deem it convenient.
8.2 In this sense, the Notary will request the client to present the documents, in order to obtain the information indicated in numerals 8.2.1 and 8.2.2 as applicable, and verify it. For this effect, the client must fill out the form referred to in Annex No. 5, which has the character of a Sworn Declaration and contains the following minimum information:
8.2.1 In the case of natural persons:
a) First and last names. b) Type and number of identity document. c) Place and date of birth. d) Nationality. e) Declared address (place of residence) f) Telephone number and email, if applicable. g) Profession or occupation.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 6 h) Marital status, including the name of the spouse if the client declares to be married. If the client declares to be cohabiting, record the name of that person. i) Position, public function, or prominent function held or that has been held in the last two (2) years, in Peru or abroad, indicating the name of the public body or international organization. In these cases, additionally, the names of their relatives up to the second degree of consanguinity, second degree of affinity, and the spouse or concubine will be required. 3 j) Indicate if they are an obligated subject to report to the SBS, through UIF-Peru and if they have or do not have a Compliance Officer registered with the SBS. This information will be available to the SBS. k) The origin of the funds, goods, or other assets involved in said transaction. l) First and last names of the natural person they represent, if applicable. 4
8.2.2 In the case of legal persons:
a) Name or trade name. b) Unique Taxpayer Registry (RUC), if applicable. c) Corporate purpose and main economic activity (commercial, industrial, construction, transport, etc.). d) Identification of the legal representative or of who appears with powers of representation and/or disposal of the legal person. e) Address. f) Office or contact person phone numbers, whether it is the main location, agency, branch, or other locations where they develop activities inherent to their business. g) Indicate if they are an obligated subject to report to the SBS, through UIF-Peru and if they have or do not have a Compliance Officer registered with the SBS. This information will be available to the SBS. h) The origin of the funds, goods, or other assets involved in said transaction.
8.3 To the extent that their due diligence allows, the Notary will determine the beneficial owner and adopt reasonable measures to verify their identity. In the case of legal persons, they will determine the natural persons who ultimately hold control through ownership; failing that, whoever exercises control of the legal person by other means; and only when in said cases no natural person is identified, the natural person who performs management and direction functions will be considered.
8.4 The Notary, at least once a year, must evaluate, identify, and categorize the ML/TF risks to which they are exposed, taking into account their characteristics, size, and complexity of their operations and determine the establishment of additional measures based on the identified risks. The report of said evaluation must be consistent and available to the SBS.
8.5 The minimum control actions and due diligence regarding the client imply, in addition to those provided in numerals 8.1 and 8.2, others determined by the Notary or UIF-Peru.
Inciso modified by Resolution SBS No. 4034-2013 of July 3, 2013.
Inciso incorporated by Resolution SBS No. 4034-2013 of July 3, 2013.

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8.6 The notary will apply a simplified due diligence regime in the client knowledge procedure, when one of the parties in the act or contract acts on their own behalf and is a company of the financial system supervised by the SBS or a company supervised by the Securities Market Superintendency; in which case the form referred to in Annex No. 5 must be filled out only once for operations carried out in a calendar year. The minimum required information will be the following:
a) Name or trade name. b) Unique Taxpayer Registry (RUC), if applicable. c) Address, and if applicable, telephone. d) First and last names and type and number of identity document of the natural person who represents the legal person. e) The origin of the funds, goods, or other assets involved in said transaction. When the notary's client is a company of the financial system supervised by the SBS or a company supervised by the Securities Market Superintendency and the operation is the lifting of a mortgage, movable guarantee, or other charge constituted in its favor, having been cancelled by a third party who is not a client of said company, through any means of payment that is not cash, they must record this circumstance 5 .
8.7 The Notary must apply a reinforced due diligence regime in the client knowledge procedure, when from the information gathered it is clear that it concerns:
non-domiciled natural and legal persons; legal persons whose shareholders, partners, or associates are natural or legal persons foreign and have a majority percentage in the social capital, contribution, or participation; complex operations; politically exposed persons (PEP) and identified as: i) relatives of PEP up to the second degree of consanguinity and second degree of affinity, ii) spouse or cohabitant of PEP; and, iii) legal persons or legal entities where a PEP maintains a participation equal to or greater than 25% of their social capital, contribution, or participation; persons who carry out leasing operations; leaseback; trust; commission of trust; clients regarding whom there is public and notorious knowledge that they are being investigated for money laundering, their precedent crimes, terrorism, or its financing; the identified ML/TF risks are greater; or other similar situations according to the good judgment of the obligated subject. The measures to be applied in these cases must be proportional to the identified risks. 6
8.8 The due diligence in the knowledge of the client consists of the stages of identification, verification, and monitoring. The partial or total realization of each of these stages is a function of the risks that have been detected. The identification stage allows obtaining the main information for the purpose of establishing the identity of a client and beneficial owner, if applicable; the verification process consists of ensuring that their clients were duly identified, leaving documentary evidence of it; and the monitoring has the purpose of ensuring that the operations executed by their clients are compatible with what is established in the client profile resulting from the documents and declarations that the client themselves present or formulate.
8.9 The knowledge of parameters notoriously applicable to the market that the Notary must have complements the knowledge of the client and allows estimating the ranges within which the usual operations performed by their clients would be located, for the purpose of applying a
5 Numeral modified by Resolution SBS No. 4034-2013 of July 3, 2013.
6 Numeral modified by Resolution SBS No. 789-2018 of February 28, 2018.

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 8 differentiated AML/CFT prevention strategy, having as a minimum level that indicated in these special norms. To this end, the Notary must segment their clients according to one or more variables, so that a profiling of these is carried out that allows estimating the characteristics of the operations they will carry out, such as the type of operation, its magnitude and periodicity. For these purposes, the particular characteristics of the socio-economic, commercial or financial sector -among others- to which the service is provided will be taken into account.

8.10 The certificate that the Notary must leave in the public deeds of having carried out the minimum control actions and due diligence in matters of prevention of money laundering, with respect to all parties involved in the transaction, specifically regarding the origin of the funds, goods or other assets involved in said transaction, as well as the payment methods used, will be applicable when the act or contract is linked to funds, goods or assets.

8.11 The Notary will not incur liability if they certify the identity of any of the grantors, induced to error by the malicious conduct of these or other persons.

Article 9th.- Worker Knowledge
The worker's knowledge implies that the notary must ensure that their workers have a high level of integrity.

The personal file of each worker that the notary must keep will contain, at least, the following information:

1. Copy of the national identity document or, if applicable, the document legally established for the identification of foreigners.
2. Sworn declaration of personal, labor and patrimonial background.
3. Sworn declaration of having taken knowledge of and complying with the manual and code of conduct for the prevention of AML/CFT.
4. Copy of the certificates or records that accredit the training referred to in Article 6th of these special norms.
5. Sanctions for non-compliance with internal norms for the prevention of AML/CFT, imposed by the obligated subject, if applicable.
6. Others determined by the obligated subject or the SBS.

The file of each worker must be kept updated and will be available to the SBS, through UIF-Peru, at the time it requests it, as well as during supervision visits of the AML/CFT prevention system.

It is the obligation of each worker to communicate to the notary, in writing -with the character of a sworn declaration- any change with respect to the information provided, within a maximum period that will not exceed fifteen (15) days from the occurrence of the change for the update of the worker's personal file.

Article 9th-A.- Centralized Organ for the Prevention of AML/CFT (OCP AML/CFT)
Notary Colleges may integrate their members into a centralized management through a Centralized Organ for the Prevention of AML/CFT (OCP AML/CFT), which may be in charge of the analysis of the AML/CFT risk in the exercise of the notarial function, being able to capture centralized information that appears in notarial protocol public instruments (with the exception of wills), regardless of whether the signing process has concluded or not; the elaboration of statistics in matters of AML/CFT prevention applicable to notaries; the programming, coordination and/or organization of training in matters of prevention and detection of AML/CFT directed mainly to notaries and their workers; the communication of updates in national legislation; dissemination of national and international lists referred to in this norm, news related to AML/CFT crimes and related crimes, among others that keep their members and their personnel informed; proposing possible alert signals, proposing updates to the Manual or Code of Conduct in matters of AML/CFT prevention or models of the same, among other functions determined by the respective Notary College, taking into consideration what is established in this article.

Notaries will maintain the obligations of client and worker due diligence, detection of unusual operations; detection, evaluation and communication to UIF-Peru of suspicious operations through the ROS; Operations Register (RO), among other obligations in matters of prevention and detection of AML/CFT inherent to the obligated subject, established in the Law, the Regulation and these special norms. 8

Chapter II 9
Operations Register

Article 10th.- Operations Register (RO)

10.1 Operation for purposes of the RO
Only for the purposes of the RO, an operation is considered to be any act or contract regarding which the professional services of the Notary are requested that appears extended in a notarial protocol public instrument regardless of whether the signing process has concluded or not, with the exception of wills. The mere inclusion of an operation in the RO does not necessarily imply that the client has carried out an unusual or suspicious operation.

10.2 Of the thresholds subject to the RO

10.2.1 The Notary must keep and maintain updated a register of the operations carried out by their clients, as indicated below: 10

TYPE OF OPERATION
INDIVIDUAL OPERATION
MULTIPLE OPERATIONS IN A MONTH
Amount equal to or greater than US$ or its equivalent in national currency or other currencies, if applicable Amount equal to or greater than US$ or its equivalent in national currency or other currencies, if applicable Transfer or other act of disposition of immovable property for valuable consideration or gratuitously and/or mortgage guarantee. 2,500.00 Not applicable

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 10

10.2.2 Multiple operations are those individual operations that in their entirety equal or exceed US$ 10,000.00 (Ten thousand and 00/100 American dollars), or its equivalent in national currency or other currencies, if applicable, when carried out by or for the benefit of the same person during a calendar month, in which case they will be considered as a single operation. 11

10.2.3 The exchange rate applicable to fix the equivalent in national currency will be the selling exchange rate of the day the operation was carried out, published by the SBS.

10.2.4 Without prejudice to the aforementioned thresholds, the Notary may establish internal thresholds lower than the RO, which can be fixed based on the most sensitive operation risk, economic sector, type of client or any other criterion determined, in accordance with what is established in numeral 8.4 of these norms.

10.3 Of the minimum content of the RO

10.3.1 The RO must contain, with respect to each operation, the information provided in Annex 2, Operations Register.

10.3.2 The RO will be kept through computer systems.

10.4 Operations subject to the RO
The operations subject to the RO are:
a) Transfer of immovable or movable property, for valuable consideration or gratuitously, with or without guarantee. b) Constitution of legal entities under the scope of any norm, as well as corporate acts that involve patrimonial or economic movement, including capital increases, transfers of shares, social participations, trademarks or of the company itself. c) Cancellation of loans and/or lifting of mortgage. d) Constitution of trusts and all other types of fiduciary charges. e) Other operations that appear in a notarial protocol public instrument regardless of whether the signing process has concluded or not, or in a form legalized by a Notary. f) Others determined by the SBS.

10.5 With respect to natural and legal persons involved in the operation, the identification of the person carrying out the operation (representative), as well as the person in whose name the operation is carried out (ordering party/owner) and the person in

11 Numeral modified by Resolution No. 4034-2013 of July 3, 2013.
Transfer or other act of disposition of movable property for valuable consideration or gratuitously and/or movable guarantee.
2,500.00
10,000.00
Lease, usufruct, assignment for use, surface right and/or other act of Use and/or Enjoyment 2,500.00 10,000.00 Regarding the constitution of legal entities and/or corporate acts that involve patrimonial or economic movement, including capital increases, transfers for valuable consideration or gratuitously of shares, social participations or trademark(s), the Notary must register all operations.

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 11

favor of whom the operation is carried out (beneficiary or acquirer). Likewise, if applicable, the identification of the guarantor, surety, fiduciary or other person involved in the operation, related to the person in whose name the operation is carried out, must be registered. 12

Article 11th.- Conservation and availability of the RO 13

11.1 The notary must register the operations in the RO, on the day they occurred. The RO will be kept in a chronological, precise and complete manner.

11.2 The RO will be conserved for ten (10) years, counted from the date the notarial protocol public instrument was extended, using for this purpose computer, microfilming or similar means that are easy to recover; a backup copy must exist that will be available to UIF-Peru and the Public Ministry within the periods established in the Law, and has the character of confidentiality, according to article 12th of the Law and its modifying norms.

11.3 The notary will send the RO to the SBS, within thirty (30) calendar days following the close of each month, in the electronic medium and form that it establishes. Non-compliance with this obligation will be communicated to the Notary College of the jurisdiction and to the Council of the Notariat.

Article 12th.- Non-exclusion from the RO
The Notary cannot exclude any client from the RO, regardless of the habitual nature and knowledge of the client.

Chapter III
Report of Suspicious Operations and its communication

Article 13th.- Report of Suspicious Operations (ROS)

13.1 The Notary is obliged to communicate to UIF-Peru, through its Compliance Officer, the operations carried out or that have been attempted to be carried out, regardless of the amounts involved, that are considered suspicious, in accordance with what is established in the Law, its Regulation and the Special Norms, in an immediate and sufficient manner, that is, within a period that in no case must exceed twenty-four (24) hours from when the operation is qualified as suspicious. The period to qualify an operation as suspicious is subject to its nature and complexity. 14

13.2 The Compliance Officer, on behalf of the Notary, qualifies the operation as suspicious and proceeds with its communication to UIF-Peru, and must leave documentary evidence of the analysis and evaluations carried out, for the qualification of an operation as unusual or suspicious, as well as the reason why an unusual operation was not qualified as suspicious and reported to UIF-Peru, if applicable. The operations qualified as unusual and their documentary support will be conserved for a period of ten (10) years, according to the design provided in Annex No. 6 – Design of Identification of Unusual Operations.

13.3 The Notary will send the ROS and attached or complementary documentation to UIF-Peru through the ROSEL system, using for this purpose the ROSEL template published on the Portal for the Prevention of Money Laundering and Terrorist Financing enabled by the SBS for this effect.

12 Numeral modified by Resolution No. 4034-2013 of July 3, 2013.
13 Article modified by Resolution No. 4034-2013 of July 3, 2013.
14 Numeral modified by Resolution SBS No. 789-2018 of February 28, 2018.

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 12

13.4 The Compliance Officer is responsible for the correct use of the ROSEL system and all the information contained in the respective template and its annexes, having to adopt the necessary measures to ensure the accuracy and veracity of the information, its reserve and confidentiality.

13.5 Annex No. 1 titled "Alert Signals", contains a list of this type of signals that Notaries must take into account for the purpose of detecting unusual and suspicious operations. The foregoing does not exempt Notaries from communicating other operations they consider suspicious according to their AML/CFT Prevention System and with the alert signals identified by the obligated subject itself, related to the activities inherent to the notarial function. Without prejudice to this, UIF-Peru may provide the obligated subject with additional information or criteria that contribute to the detection of unusual or suspicious operations. The mere existence of elements configuring alert signals does not generate the obligation to formulate the ROS, nor constitutes any impediment for the extension of the notarial instrument.

13.6 The communication of suspicious operations to UIF-Peru by the Notary, through the Compliance Officer, has a confidential and reserved character. For all legal effects, the ROS does not constitute a criminal complaint.

Chapter IV
Manual and Code of Conduct for the
Prevention of Money Laundering and Terrorist Financing

Article 14th.- Manual for the Prevention of Money Laundering and Terrorist Financing

14.1 The notary, through its compliance officer, must approve and execute a manual for the prevention of AML/CFT that will contain the policies, mechanisms and procedures for the prevention and detection of AML/CFT, as provided by the Law, its Regulation, these special norms and other provisions issued on the matter. The notary may take as reference Annex No. 3 "Model Manual for the Prevention of Money Laundering and Terrorist Financing", in which the minimum information that must be contained is recorded. Non-compliance with this obligation will generate administrative liability. 15

14.2 The Manual must be approved by the Notary and made known to its workers and will be available to UIF-Peru when so required.

14.3 The Manual must be kept permanently updated, incorporating the "Alert Signals" identified by the Notary or its Compliance Officer based on what is established in Annex No. 1 of these norms. It corresponds to the Notary to incorporate in the Manual the criteria to be adopted regarding amounts, time periods, among other discretionary aspects, with respect to the alert signals.

Article 15th.- Code of Conduct for the Prevention of Money Laundering and Terrorist Financing

15 Numeral modified by Resolution SBS No. 4034-2013 of July 3, 2013.

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 13

The Notary must approve and put into practice a Code of Conduct for the Prevention of AML/CFT, intended to ensure the adequate functioning of the AML/CFT Prevention System, and will contain among other aspects, the guiding principles, values and policies that must be applied to administer the risk of exposure to AML/CFT.

The Code of Conduct for the Prevention of AML/CFT must highlight the obligatory character of the procedures that integrate the AML/CFT prevention system in accordance with the current regulations on the matter and specifying, if applicable, those particular details to which the obligated subject and its workers must adhere, in accordance with the notarial function.

The Notary may take into account the "Model Code of Conduct for the Prevention of Money Laundering and Terrorist Financing" referred to in Annexes No. 4 and 4-A of these special norms.

Chapter V
Supervision of the Prevention System of Money Laundering and Terrorist Financing

Article 16th.- Supervision of the Subject Obligated to Inform
It corresponds to UIF-Peru to ensure compliance with these special norms and other provisions on prevention and detection of AML/CFT, using its own supervision mechanisms and counting on the support of the Compliance Officer.

Article 17th.- Compliance Officer

17.1 The Compliance Officer is the natural person responsible for monitoring the adequate implementation and functioning of the AML/CFT prevention system. It is the contact person of the Notary with UIF-Peru and an agent in which it relies in the exercise of the control and supervision labor of the mentioned system. The Notary can be their own Compliance Officer, only when they have no more than twenty workers.

17.2 The Compliance Officer is designated by the Notary and must be of their absolute trust, have a direct labor or contractual link with them, and enjoys autonomy and independence in the exercise of the responsibilities and functions assigned to them for this effect by the Law, the Regulation and these special norms.

17.3 The designation of the Compliance Officer does not exempt the Notary or its workers from the obligation to apply the policies and procedures of the AML/CFT Prevention System.

17.4 The Compliance Officer can be part-time, sufficient for this being an express communication from the Notary to UIF-Peru. However, UIF-Peru may determine the particular cases in which the Compliance Officer must be full-time, taking into consideration, among other aspects, the level of operational, administrative and/or legal risks, the average volume of transactions or operations, number of personnel, patrimonial movement, among other aspects, requiring for this the necessary complementary information.

Article 18th.- Requirements of the compliance officer 16

18.1 The compliance officer must meet, at least, the following requirements:
a) Have a minimum labor experience of one (1) year in the activities inherent to the notarial function and/or in AML/CFT prevention, or have knowledge of them, by reason of their professional exercise, for an equal period, or experience for an equal period as a compliance officer or as a worker in the area in charge of a compliance officer in another sector. b) Not have been convicted for the commission of an intentional crime. c) Not have been dismissed from public office or have been dismissed from it for a serious fault. d) Not have overdue debts for more than one hundred twenty (120) days in the financial system or in judicial collection, nor protested documents in the last five (5) years, not clarified to the satisfaction of the SBS. e) Not have been declared bankrupt. f) Others established by the SBS.

The aforementioned requirements can be accredited with sworn declarations.

18.2 Of the communication of the designation of the compliance officer
The designation of the compliance officer must be communicated by the notary, through a letter addressed to the Deputy Superintendent of UIF-Peru or another means determined by the SBS, in a confidential and reserved manner, within a period not greater than five (5) business days from the date of designation, attaching the documentation that accredits that they meet the requirements indicated in the preceding numeral and indicating as a minimum the following information of the compliance officer:
a) First and last names. b) Type and number of identity document. c) Nationality. d) Address of the notarial office. e) Contact data [telephones, facsimile, email, others]. f) Indicate if they will perform full-time or not. g) Date of entry and position held. In case that the notary is the compliance officer, they must indicate the date and number of the ministerial resolution of appointment as such and date of start of the notarial function. h) Number of workers with which the notary has.

Changes in the aforementioned information must be communicated by the notary to UIF-Peru, within a period not greater than five (5) business days from the occurrence of the change.

18.3 The person designated as compliance officer can only be so for one obligated subject at a time.

18.4 UIF-Peru will assign secret codes, both to the obligated subject and to the compliance officer, after verifying the documentation and information referred to in this article.

18.5 The requirements to be designated as compliance officer, established in numeral 18.1 of this article, must remain in force during the exercise of the position. If the compliance officer ceases to meet any of these requirements, they must communicate it to the notary, in writing -with the character of a sworn declaration- within a maximum period of five (5) business days from the occurrence of the fact. In this case, the notary must designate a new compliance officer who meets the aforementioned requirements, within a maximum period of five (5) business days counted from the communication of the compliance officer and proceed to communicate such designation to UIF-Peru, in accordance with what is established in numeral 18.2 of this article.

18.6 The removal of the compliance officer requires due justification. The removal, as well as the reasons supporting such measure must be communicated by the notary through a letter addressed to the Deputy Superintendent of UIF-Peru or another means determined by the SBS, within the period of five (5) business days from the adoption of the decision.

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18.7 The vacancy situation of the Compliance Officer, due to dismissal or resignation, shall not last more than thirty (30) calendar days, from the date it occurs.

18.8 In the event of a temporary absence of the Compliance Officer, the notary, through a letter addressed to the Deputy Superintendent of the UIF-Peru, or other means determined by the SBS, within five (5) business days of the temporary absence occurring, shall communicate the name of the worker who will replace them, attaching the supporting documentation referred to in this article and justifying the reasons for the measure. The notary may replace the Compliance Officer even if they have more than 20 workers, requiring only a letter signed by the notary. The temporary absence shall not last more than four (4) months.

Article 19th.- Confidentiality of the Compliance Officer.

The UIF-Peru shall assign secret codes to both the Notary and the Compliance Officer, after verifying the information referred to in Article 18th, which will serve solely to identify both parties in all communications that the Compliance Officer sends to the UIF-Peru, thereby guaranteeing the confidentiality of the identity of the Notary and their Compliance Officer, as well as the confidentiality of the information sent to the UIF-Peru. The Notary and their Compliance Officer shall take the necessary actions to guarantee the confidentiality of these secret codes.

For its part, it corresponds to the SBS to adopt the necessary security measures to guarantee the confidentiality of the information of which the UIF-Peru becomes aware, as part of its supervisory labor.

Article 20th.- Responsibilities of the Compliance Officer

The responsibilities of the Compliance Officer are as follows:

a) Monitor compliance with the system to detect suspicious operations of ML/FT.

b) Verify the application of policies and procedures implemented for customer and worker due diligence.

c) Define strategies for the prevention and detection of ML/FT.

d) Propose alert signals to be incorporated into the Manual for Prevention in this matter.

e) Analyze unusual operations detected, with the aim of determining operations that could be classified as suspicious and, if applicable, report them to the UIF-Peru through a Suspicious Operation Report (ROS), keeping control of these.

f) Identify and preserve, along with the respective documentary support, for a period of ten (10) years, the operations that have been classified as unusual and that have not been reported to the UIF-Peru.

g) Take the necessary actions to ensure their training, that of the Notary and their workers, in matters of prevention and detection of ML/FT.

h) Be the interlocutor of the Notary before the SBS, through the UIF-Peru.

i) Prepare and send annual reports on the situation of the ML/FT Prevention System and its compliance.

j) Custody the records and other documents required for the prevention of ML/FT.

k) Periodically review, on the SBS website (www.sbs.gob.pe), the list of Politically Exposed Persons (PEP).

l) Periodically review on the FATF website, the List of Countries and Territories Non-Cooperative (www.fatf-gafi.org), as well as the OFAC List, which may serve as a consultation tool for customer due diligence.

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m) Periodically review on the United Nations website, the Lists on Persons Involved in Terrorist Activities (Resolution No. 1267), in order to detect if any of them is carrying out any operation in the Notary's office.

n) Periodically review on the United Nations website, the List of Countries Involved in Activities of Proliferation of Weapons of Mass Destruction and their Financing.

o) Those others that are necessary or established by the SBS, to monitor the functioning and level of compliance of the ML/FT prevention system.

Article 21st.- Annual Report of the Compliance Officer

The Compliance Officer shall prepare and send to the UIF-Peru an annual report on the compliance with the policies and procedures that make up the ML/FT prevention system implemented by the Notary, which shall contain at least the following aspects:

a) Annual statistics of unusual operations detected by workers, discriminating the information month by month.

b) Annual statistics of the Operations Register (RO), indicating the number of operations registered per month and the amount involved.

c) Annual statistics of suspicious operations reported to the UIF-Peru, discriminating the information month by month, specifying the amounts involved or other aspects considered significant.

d) Description of new alert signals of unusual operations and usual types of suspicious operations that have been detected and reported, if any.

e) Customer and worker due diligence policies.

f) Brief description of the topics treated in the annual training on ML/FT prevention, indicating the number of people trained. If the Notary has received more than one training, indicate the number of trainings and the number of people trained in each of them, specifying whether it was national or international.

g) Detailed list of activities carried out during the year for the compliance and updating of the Manual and Code of Conduct for the Prevention of ML/FT, as well as cases of non-compliance or disregard of the same and the corrective measures adopted.

h) List of activities carried out for the compliance with the norms relating to the Operations Register (RO) and its maintenance for the period established in these norms.

i) Changes and updates to the Manual.

j) Measures adopted for the verification and custody of employee files, regarding their content and updating.

k) Actions adopted regarding the observations or recommendations that the UIF-Peru may have formulated.

l) Other aspects that the Notary or the Compliance Officer considers relevant.

m) Others determined by the SBS.

The annual report shall be sent by the Compliance Officer to the UIF-Peru, no later than February 15 of the following year, through the Portal for the Prevention of Money Laundering and Terrorist Financing or other means established by the SBS. Non-compliance generates the corresponding actions according to law.

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Article 22nd.- Annexes 17

The following annexes form an integral part of these special norms:

Annex No. 1: Alert signals.

Annex No. 2: Operations Register (RO).

Annex No. 3: Model manual for the prevention of money laundering and terrorist financing.

Annex 3-A: Sworn declaration of receipt and knowledge of the manual for the prevention of money laundering and terrorist financing.

Annex 3-B: Sworn declaration of personal, labor, and patrimonial background.

Annex No. 4: Model code of conduct for the prevention of money laundering and terrorist financing.

Annex 4-A: Sworn declaration of receipt and knowledge of the code of conduct for the prevention of money laundering and terrorist financing.

Annex No. 5: Form for sworn declaration of customer knowledge.

Annex No. 6: Design for the identification of unusual operations.

FINAL PROVISIONS

First.- On the exemption of liability

In accordance with Article 13 of the Law, the Notary and their workers are exempt from penal, civil, and administrative liability, as applicable, derived from the due compliance with the current norms on ML/FT prevention.

Second.- On the supervision of the ML/FT prevention system

The supervisory, control, and auditing functions established in these norms shall be exercised by the SBS through the UIF-Peru.

The Council of Notaries or the College of Notaries of the jurisdiction may assist in the carrying out of a certain supervisory visit, provided that the SBS requires it through the UIF-Peru.

Article Second.-

18 From the entry into force of this norm, until September 30, 2013, notaries in the Province of Lima and the Constitutional Province of Callao shall send to the UIF-Peru the information registered in the operations register (RO), only when it is requested. The RO corresponding to the month of October 2013 shall be sent to the UIF-Peru within thirty (30) calendar days of the month of November 2013, and so on, according to the structure, electronic medium, instructions, and other aspects determined by the SBS.

The sending of the RO for notaries in the other provinces of Peru shall be progressive, according to the structure, electronic medium, instructions, and other aspects determined by the SBS. Without prejudice to this, from the entry into force of this norm, notaries nationwide must keep and conserve the RO in a chronological, precise, and complete manner, and it shall be sent to the UIF-Peru when requested.

Article Third.- Notaries nationwide shall send

their Suspicious Operation Reports (ROS), as well as all attached or complementary documentation, starting from October 1, 2012 through the ROSEL System, using for this purpose the ROSEL template published on the portal enabled by the SBS for such effect. From the entry into force of this norm until September 30, 2012, inclusive, the Notary shall communicate the ROS in physical medium.

Only, during the month of October 2012, the Compliance Officers of the Notaries, in addition to using the ROSEL template, may also send to the UIF-Peru their Suspicious Operation Reports (ROS) by physical medium.

Starting from November 2, 2012, the sending of the ROS shall be submitted only through the ROSEL System; except in those cases duly justified and authorized by the SBS, through the UIF-Peru.

Article Fourth.- Approve the Annexes that form an integral part

of this Resolution, which will be published on the electronic portal of the Superintendence of Banking, Insurance and Private Pension Fund Administrators (www.sbs.gob.pe), in accordance with what is provided by Supreme Decree No. 001-2009-JUS.

Article Fifth.- This Resolution enters into force on

the day following its publication in the Official Newspaper El Peruano.

Register, communicate, and publish.

DANIEL SCHYDLOWSKY ROSENBERG
Superintendent of Banking, Insurance and
Private Pension Fund Administrators

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17 Article modified by Resolution No. 4034-2013 of July 3, 2013.
18 Article modified by SBS Resolution No. 565-2013 of January 23, 2013, and then modified by SBS Resolution No. 4034-2013 of July 3, 2013.