SBS Resolution No. 2868-2025: Amending Article 2 and the Annex of the Standard on Politically Exposed Persons (PEPs) for AML/CFT, Approved by Resolution No. 4349-2016.

Los Laureles No. 214 - Lima 27 - Peru Tel.: (511)6309000 Lima, August 14, 2025 SBS RESOLUTION NO. 02868-2025 The Superintendent of Banking, Insurance and Private Pension Fund Administrators CONSIDERING: That, in accordance with Article 3 of Law No. 27693 – the Law creating the Financial Intelligence Unit (UIF-Peru) and its modifying regulations, it is the function and authority of the Superintendent of Banking, Insurance and Private Pension Fund Administrators, through UIF-Peru, to regulate the guidelines, requirements and other aspects regarding the anti-money laundering (AML) and counter-terrorist financing (CFT) systems that must be implemented by obligated entities, which involves, among other aspects, the proper due diligence in customer knowledge; That, through SBS Resolution No. 4349-2016, the Standard on functions and positions held by politically exposed persons (PEPs) in AML/CFT matters was approved, which defines and determines the timeframe to be considered a PEP, as well as establishes a list of functions and positions held by PEPs that obligated entities must consider to perform proper due diligence in customer knowledge; without prejudice to, based on AML/CFT risks, obligated entities identifying those clients who meet the PEP definition; That, taking into account the PEP definition provided in the General Glossary of the International Financial Action Task Force (FATF) recommendations; it is necessary to modify the Standard on functions and positions held by politically exposed persons (PEPs) in AML/CFT matters, as well as to update the list of functions and positions in the Annex of said Standard approved by SBS Resolution No. 4349-2016, with the aim of assisting obligated entities in applying proper due diligence in customer knowledge and ensuring that only persons who actually hold the positions and perform the functions are considered PEPs; Having obtained the approval of the Deputy Superintendencies for Regulation and Legal Affairs and UIF-Peru; and, In exercise of the powers conferred by Law No. 29038 and the General Law of the Financial System and Insurance System and Organic Law of the Superintendent of Banking and Insurance – Law No. 26702 and its modifying regulations, in accordance with Law No. 27693 and its modifying and regulatory provisions, and according to the exception in the Thirty-Second Final and Complementary Provision of said Law No. 26702;

RESOLVES: Article One.- Modify Article 2 of the Standard on functions and positions held by politically exposed persons (PEPs) in AML/CFT matters, approved by SBS Resolution No. 4349-2016 and its amendments, according to the following text: “Article 2.- Politically Exposed Persons (PEPs) Politically exposed persons (PEPs) are natural persons, national or foreign, who currently hold or have held within the last two (2) years prominent public functions, or prominent functions in an international organization, either within the national territory or abroad, and whose financial circumstances may be subject to public interest. Furthermore, a direct collaborator of the highest authority of the institution is also considered a PEP. (…)”.

Article Two.- Modify items 1), e), i), j), k) and m) of numeral 2 of the Annex to the Standard on functions and positions held by politically exposed persons (PEPs) in AML/CFT matters, approved by SBS Resolution No. 4349-2016 and its amendments, according to the following text: “ANNEX LIST OF FUNCTIONS AND POSITIONS HELD BY POLITICALLY EXPOSED PERSONS (PEPs) IN ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING

1. PEPs are natural persons, national or foreign, who currently hold or have held within the last two (2) years prominent public functions, or prominent functions in an international organization; either within the national territory or abroad, and whose financial circumstances may be subject to public interest.
2. Those who currently hold or have held, in accordance with the provisions of this standard, the following functions and positions, within the national territory or abroad: (…) e. President of the Judicial Power and President of the Supreme Court of Justice; supreme judges, superior judges, specialized or mixed judges, general manager, secretary general and equivalent positions in the military jurisdiction. (…) i. The highest authority, directors, members of collegiate bodies, secretaries general and heads of advisory offices of public entities, specialized regulatory and supervisory agencies, executors and constitutionally autonomous bodies. j. Ambassadors. k. Officials of the body in charge of procurement and acquisitions, under applicable state contracting regulations for all public entities. Furthermore, heads of treasury, budget, finance and logistics areas in the public sector. (…) m. Founders, members of governing bodies, legal representatives, comptroller and treasurer of political parties or electoral alliances, as well as their candidates for elected office. (…)”.

Article Three.- This Resolution enters into force the day after its publication in the Official Gazette El Peruano. SERGIO JAVIER ESPINOSA CHIROQUE SUPERINTENDENT OF BANKING, INSURANCE AND AFP