SBS Resolution No. 1029-2026: Amend the Regulation on Infractions and Sanctions of the Superintendency of Banks, Insurance Companies, and Private Pension Fund Administrators

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511)6309000 Lima, April 8, 2026

SBS RESOLUTION No. 01029-2026

The Superintendent of Banks, Insurance Companies, and Private Pension Fund Administrators

CONSIDERING: That Article 87 of the Political Constitution assigns to the Superintendency of Banks, Insurance Companies, and Private Pension Fund Administrators the oversight of banking companies, insurance companies, pension fund administrators, other entities that receive public deposits, and those others that the law determines conduct connected or similar operations; That Article 347 of Law No. 26702, General Law of the Financial System and Insurance System and Organic Law of the Superintendency of Banks and Insurance, and its amendments (hereinafter, General Law), provides that this institution is responsible for defending public interests, safeguarding the economic and financial soundness of natural and legal persons under its control, ensuring compliance with applicable legal, regulatory, and statutory norms; exercising broad oversight of all operations and businesses, and criminally reporting natural and legal persons that conduct the activities specified in this law without proper authorization, proceeding to close their premises, and, where applicable, requesting the dissolution and liquidation of the infringer; That, through SBS Resolution No. 2755-2018, the Regulation on Infractions and Sanctions of the Superintendency of Banks, Insurance Companies, and Private Pension Fund Administrators was approved, applicable to companies in the Financial System, Insurance System, Private Pension Fund Administrators, Profit-sharing and Benefit Funds, and natural and legal persons that, in accordance with the General Law and other special laws, fall under the regulation and supervision of the Superintendency; That, said regulation includes annexes containing the classification of infractions arising from non-compliance with provisions issued by the Superintendency, which are classified according to their severity into minor, serious, and very serious infractions; That, it is necessary to modify the aforementioned annexes of the Regulation in order to incorporate and update certain infractions, thereby enabling the Superintendency to have effective mechanisms for exercising its sanctioning authority;

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511)6309000 With the approval of the Deputy Superintendencies of Banking and Microfinance, Insurance, Pensions and Regulation, and Legal Affairs, as well as the Risk and Market Conduct and Financial Inclusion Departments; In exercise of the powers conferred by paragraphs 7 and 9 of Article 349, in conjunction with Articles 356 and 361 of the General Law; and, in accordance with the exception set forth in the Thirty-Second Final and Transitional Provision of said General Law; RESOLVES:

Article One. - Modify the Regulation on Infractions and Sanctions, approved by SBS Resolution No. 2755-2018 and its amendments, as follows: ANNEX 1 COMMON INFRACTIONS II. SERIOUS INFRACTIONS (…) 52. Failing to protect the company's information assets against information security incident(s) affecting availability, confidentiality, or integrity, including cases of internal or external fraud, without resulting in loss, theft, or alteration of clients' confidential information.

ANNEX 2 SPECIFIC INFRACTIONS OF THE FINANCIAL SYSTEM AND COMPLEMENTARY AND CONNECTED SERVICE COMPANIES (Multiple-operation companies, specialized companies, investment banks and other similar entities under supervision, as well as representatives of financial companies not established in the country and supervisory collaborators of this group; to complementary and connected service companies, shareholders, directors, managers, employees). II. SERIOUS INFRACTIONS: (…) 28. Failing to comply with the applicable regulatory framework regarding the application of installment advances and/or prepayments, with an economic impact on users equal to or greater than the amount equivalent to 20 UIT. (…) 49. Failing to comply with the applicable regulatory framework regarding the application of payment allocation order in credit card obligations and/or other active products, with an economic impact on users equal to or greater than the amount equivalent to 20 UIT.

ANNEX 3 SPECIFIC INFRACTIONS OF THE INSURANCE SYSTEM (Insurance and reinsurance companies. Includes insurance intermediaries and auxiliaries, representatives of foreign reinsurance companies and reinsurance brokers, and supervisory collaborators of this group. Includes shareholders, directors, managers, employees) I. MINOR INFRACTIONS (…) 4. Issuing credit insurance policies and/or guarantee policies, GOO guarantees, and GOC guarantees without supporting documentation verifying compliance with the policies, strategies, and procedures established in the Regulation on Credit, Guarantee, and Surety Insurance issued by insurance companies, or the norm that replaces it. II. SERIOUS INFRACTIONS (…) 81. Failing to advise the policyholder and/or insured during the offer, underwriting, execution of the insurance contract, as well as in the presentation of the claim and loss payment request, in accordance with applicable regulations. (…) 97. Failing to comply with the following obligations in intermediation through communication systems: (i) providing the insured with minimum information regarding the offered insurance product or right of withdrawal; or (ii) implementing adequate support to obtain, preserve, and safeguard information provided to the potential insured and their acceptance for insurance contracting.

ANNEX 4 SPECIFIC INFRACTIONS OF THE PRIVATE PENSION FUND ADMINISTRATION SYSTEM (Private Pension Fund Administrators, AFP sales promoters. Includes shareholders, directors, managers, employees) I. MINOR INFRACTIONS (…) 82. Failing to comply with procedures, established deadlines and/or lacking required supporting documentation to declare the nullity of an affiliation, in accordance with applicable regulations. III. VERY SERIOUS INFRACTIONS (…) 25. Failing to implement guidelines on costs, expenses, and commissions generated by investments, in accordance with applicable regulations.

Article Two. - Incorporate the following paragraphs into the Regulation on Infractions and Sanctions, approved by SBS Resolution No. 2755-2018 and its amendments, as follows: ANNEX 1 COMMON INFRACTIONS III. VERY SERIOUS INFRACTIONS

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511)6309000 (…) 27. Failing to protect the company's information assets against information security incident(s) affecting availability, confidentiality, or integrity, including cases of internal or external fraud, resulting in loss, theft, or alteration of clients' confidential information.

ANNEX 2 SPECIFIC INFRACTIONS OF THE FINANCIAL SYSTEM AND COMPLEMENTARY AND CONNECTED SERVICE COMPANIES I. MINOR INFRACTIONS: (…) 32. Failing to comply with the applicable regulatory framework regarding the application of installment advances and/or prepayments. 33. Failing to comply with applicable regulations regarding the application of payment allocation order in credit card obligations and/or other active products. 34. Failing to publish on the website information related to complaints, contractual forms and summary sheets, as well as products and/or services, as established in applicable regulations. II. VERY SERIOUS INFRACTIONS (…) 20. Failing to comply with the applicable regulatory framework regarding the application of installment advances and/or prepayments, with an economic impact on users equal to or greater than the amount equivalent to 100 UIT. 21. Failing to comply with applicable regulations regarding the application of payment allocation order in credit card obligations and/or other active products, with an economic impact on users equal to or greater than the amount equivalent to 100 UIT.

ANNEX 3 SPECIFIC INFRACTIONS OF THE INSURANCE SYSTEM I. MINOR INFRACTIONS (…) 52. In the case of insurance brokerage companies, failing to update information on their exclusive brokers within the deadlines established by regulations. II. SERIOUS INFRACTIONS (…) 128. Selling in installments and/or to related parties real estate adjudicated through the execution of guarantee insurance, GOO guarantees or GOC guarantees, without prior authorization from the Superintendency. 129. Offering or promoting insurance products containing savings and/or investment components that do not include insurance risk coverages, in accordance with regulations issued by this Superintendency. 130. Failing to pay and/or paying outside the deadline savings and/or investment components, as well as corresponding interest, with an economic impact on users equal to or greater than the amount equivalent to 20 UIT. III. VERY SERIOUS INFRACTIONS: (…) 6. Failing to pay and/or paying outside the deadline savings and/or investment components, as well as corresponding interest, with an economic impact on users equal to or greater than the amount equivalent to 100 UIT.

ANNEX 4 SPECIFIC INFRACTIONS OF THE PRIVATE PENSION FUND ADMINISTRATION SYSTEM I. SERIOUS INFRACTIONS: (…) 94. Failing to evaluate and/or monitor costs, expenses, and commissions generated by investments made in investment instruments or operations, in accordance with applicable regulations. 95. Failing to submit or submitting late to the Superintendency the annual report prepared by the Internal Audit Unit on ethical conduct and professional conduct standards of persons participating in the investment process. III. VERY SERIOUS INFRACTIONS 41. Failing to use a portfolio optimization model in accordance with applicable regulations.

Article Three. - Repeal paragraph 74 of the serious infractions and paragraph 22 of the very serious infractions in Annex 1; paragraph 92 of the serious infractions in Annex 3; and, paragraph 32 of the very serious infractions in Annex 4 of the Regulation on Infractions and Sanctions, approved by SBS Resolution No. 2755-2018 and its amendments.

Register, communicate, and publish. SERGIO JAVIER ESPINOSA CHIROQUE SUPERINTENDENT OF BANKS, INSURANCE, AND AFP