Adjunct Superintendent Resolution for Prudential Supervision No. 027-2025-SMV/10

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendency
Electronically signed document within the framework of Law No. 27269, Law on Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and authorship Adjunct Superintendent Resolution SMV No. 027-2025-SMV/10 Lima, May 9, 2025 Summary: Autoplan Empresa Administradora de Fondos Colectivos S.A. is sanctioned with a fine of 01 UIT for having committed five (5) infractions: three (3) serious ones classified in Annex XIII, section 2, subsection 2.16 of the Sanctions Regulation for failing to comply with the provisions of the collective fund administration contracts entered into with the associate: i) not attending to complaints in a timely manner, ii) for not sending payment receipts, and iii) for not sending general contract conditions; and, two (2) minor ones classified in Annex XIII, section 3, subsection 3.7 of the Sanctions Regulation, for not sending the associate the account statements and assembly calendars corresponding to the two collective fund administration contracts subscribed in accordance with applicable regulations. Administered Entity: Autoplan Empresa Administradora de Fondos Colectivos S.A. Subject: Administrative sanctioning procedure File No.: 2024040145 The Adjunct Superintendent for Prudential Supervision SEEN:
The administrative file No. 2024040145, and Report No. 1486-2024-SMV/10.3, issued by the General Intendancy for Prudential Compliance; and, CONSIDERING:

Pursuant to Article 1 of Law No. 29782, Law on Strengthening the Supervision of the Securities Market, the name of the National Commission for the Supervision of Companies and Securities (CONASEV) is replaced by that of the Securities Market Superintendency (SMV), so that any reference to CONASEV in legal norms shall be understood as referring to the SMV;
I. FACTS

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendency
Electronically signed document within the framework of Law No. 27269, Law on Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and authorship
2. On April 8, 2021, COMPLAINANT 1 signed with Autoplan Empresa Administradora de Fondos Colectivos S.A. (hereinafter, AUTOPLAN EAFC) two contracts titled “Collective Fund Administration Contract Special Program for Advance Adjudication with Designated Supplier – Purchase Certificate Modality” with Nos. 215095 and 214933, Group No. 22, Plan 22 Program for the adjudication of a purchase certificate for US$ 13,000.00 (Thirteen thousand and 00/100 American dollars) (hereinafter, CONTRACT 1) and for the adjudication of a purchase certificate for US$ 12,000.00 (Twelve thousand and 00/100 American dollars) (hereinafter, CONTRACT 2); respectively;
3. By letter received on October 27, 2023, the COMPLAINANT filed a complaint against AUTOPLAN EAFC before the Securities Market Superintendency (SMV), in which it refers, among other things, to i) that the administrator had not complied with responding to the notarial letter presented on July 22, 2021; ii) they had not been informed regarding the value of the installments they had to pay in accordance with their contracts, nor of the group or vacancy assigned to them, iii) that the administering company had not complied with responding to their email of July 13, 2021 regarding the change of insurance, and also had not complied with providing their iv) assembly calendars, v) account statements, vi) nor the payment receipts corresponding to their contracts;
4. The COMPLAINANT attached as part of their complaint, among others, the following documents:
a. Copy of Notarial Letter signed by the COMPLAINANT dated at the Noya de la Piedra Notary Office on July 22, 2021; b. Copy of an email sent on July 7, 2021 to the COMPLAINANT through which AUTOPLAN EAFC sends the payment schedules corresponding to their contracts, as well as the referred payment schedules; b. Copy of an email sent by the COMPLAINANT to efachin@autoplan.pe and seguros@autoplan.pe through which they indicate that they are sending the insurance policy and the payment made to Rímac Seguros and stating “(…) I wish for the resolution of my inconvenience since I notified that I did not want the Mapfre insurance. I made the annual payment of my insurance”. It should be noted that a receipt of payment of S/ 3,063.00 in favor of Rímac Seguro and a PDF file are attached to said email;
c. Copy of the document titled “Annex 1-General Conditions of the Collective Fund Administration Contract”, which is an integral part of CONTRACT 1, which only contains the percentage of the administration fee and the enrollment fee;
5. With Letter No. 4932-2023-SMV/10.3, notified on November 3, 2023 (hereinafter, LETTER), the complaint filed by the COMPLAINANT was transferred to AUTOPLAN EAFC so that it could submit the corresponding comments and it was requested, among other information, the following documentation and/or information:
“(…)

1 In the annex attached to this resolution, the complete data of the natural persons to whom the denominations used in this resolution belong are detailed, and likewise, if applicable, the email addresses.
2 File No. 2023045093.

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendency
Electronically signed document within the framework of Law No. 27269, Law on Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and authorship d. Copy of the notification receipt of the call to the (3) first Assemblies and/or calendar of the assemblies in which the COMPLAINANT was required to participate, for each of the CONTRACTS signed. (…) g. Copy of the payment receipts issued to the COMPLAINANT corresponding to the CONTRACTS signed; as well as the delivery receipts thereof. h. Copy of the account statements sent to the COMPLAINANT corresponding to the CONTRACTS signed; as well as the transmission receipts thereof.
i. Copy of the response to the notarial letter dated July 22, 2021 sent to their representative by the COMPLAINANT.
j. Copy of the response to the email dated July 13, 2021 sent by the COMPLAINANT to efachin@autoplan.pe and seguros@autoplan.pe (…) m. Any other information and/or documentation considered pertinent to the case and that allows clarifying the facts complained about”;
6. With the writing presented on November 14, 2023, AUTOPLAN EAFC requested an additional period for the presentation of the information required via the LETTER; which was granted via Letter No. 5175-2023-SMV/10.3, notified on November 14, 2023;
7. On November 27, 2023, AUTOPLAN EAFC sent its comments on the complaint and part of the information required via the LETTER to the SMV, requesting an additional period for the presentation of the missing information. AUTOPLAN EAFC attached, among others, the following information and documents:
a. Copy of the document titled “Annex 1-General Conditions of the Collective Fund Administration Contract”, which is an integral part of CONTRACT 1, which only contains the percentage of the administration fee and the enrollment fee; b. Copy of CONTRACT 1 signed on April 8, 2021 by the COMPLAINANT;
c. Copy of CONTRACT 2 signed on April 8, 2021 by the COMPLAINANT;
d. Copy of the MAPFRE vehicle insurance quote issued on May 19, 2021 which is signed by the COMPLAINANT; e. Copy of an Insurance Certificate – Credit Life Insurance for Collective Fund Self-Financing System AUTOPLAN Empresa Administradora de Fondos Colectivos S.A. (Group Policies No. 61100092 and 61100093) signed by the COMPLAINANT on May 20, 2021; f. Copy of the document titled “Contract Reception Receipt Autoplan”, corresponding to the documents: 1. Collective Fund Administration Contract No. 214933, 2. Associate Booklet and 3. Calendar of the next 3 assemblies, signed by the COMPLAINANT on April 8, 2021; g. Copy of the document titled “Contract Reception Receipt Autoplan”, corresponding to the documents: 1. Collective Fund Administration Contract No. 215095, 2. Associate Booklet and 3. Calendar of the next 3 assemblies, signed by the COMPLAINANT on April 8, 2021;

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendency
Electronically signed document within the framework of Law No. 27269, Law on Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and authorship
8. With Letter No. 5440-2023-SMV/10.3, notified on November 28, 2023, the extension requested by AUTOPLAN EAFC was granted;
9. Via emails of March 26 and September 17, 2024, the submission of the missing information required via the LETTER was reiterated to AUTOPLAN EAFC;
10. By Letter No. 4280-2024-SMV/10.3 notified on September 25, 2024 (hereinafter, CHARGES LETTER), an administrative sanctioning procedure was initiated against AUTOPLAN EAFC, imputing charges for some facts related to the COMPLAINANT's complaint;
11. AUTOPLAN EAFC has not submitted its defenses to the administrative sanctioning procedure initiated via the CHARGES LETTER, up to the date of issuance of this resolution;
12. The charges formulated have been subject to evaluation by the General Intendancy for Prudential Compliance in Report No. 1486-2024-SMV/10.3, which has been submitted to the knowledge of this Adjunct Superintendency;
13. In observance of the Principle of Due Process contemplated both in Article IV, subsection 1, numeral 1.2 of the Preliminary Title, as well as in Article 248°, numeral 2, of the Single Text Ordered of Law No. 27444, General Administrative Procedure Law, approved by Supreme Decree No. 004-2019-JUS (hereinafter, TUO LPAG), via Letter No. 5560-2024-SMV/10, the administrative file to which this resolution refers was made available to AUTOPLAN EAFC for review;
II. ISSUES TO BE DETERMINED
14. In the present administrative procedure, in the opinion of this Adjunct Superintendency, it corresponds to determine the following:
a. Whether AUTOPLAN EAFC incurred or did not incur an infraction provided for in Annex XIII, section 3, subsection 3.7 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01 (hereinafter, SANCTIONS REGULATION), for having failed to send the associate their assembly calendars corresponding to their contracts celebrated between July 2021 and May 2022; b. Whether AUTOPLAN EAFC incurred or did not incur an infraction provided for in Annex XIII, section 3, subsection 3.7 of the SANCTIONS REGULATION, for not sending the associate the account statements corresponding to their contracts;
c. Whether AUTOPLAN EAFC incurred or did not incur an infraction provided for in Annex XIII, section 2, subsection 2.16 of the SANCTIONS REGULATION, for failing to send the associate all the payment receipts corresponding to their contracts;
d. Whether AUTOPLAN EAFC incurred or did not incur an infraction provided for in Annex XIII, section 2, subsection 2.16 of the SANCTIONS REGULATION, for failing to send the general conditions of their contracts with the established requirements; e. Whether AUTOPLAN EAFC incurred or did not incur an infraction provided for in Annex XIII, section 2, subsection 2.16 of the SANCTIONS REGULATION, for failing to comply with the legal deadline established to provide a response to the complaints filed by the associate; f. Whether it corresponds or does not correspond to impose a sanction on AUTOPLAN EAFC;
III. ANALYSIS
3.1 Of the applicable regulations
A. REGARDING THE SUBMISSION OF ACCOUNT STATEMENTS AND ASSEMBLY CALENDAR
15. Clause 10, numeral 10.4, literal l) of CONTRACT 1 and CONTRACT 2 establishes that the functions and obligations of AUTOPLAN EAFC are the following:
“10.4 FUNCTIONS AND OBLIGATIONS OF AUTOPLAN:
The Administrator's functions and obligations are the following:
(…) l) Others provided for in the Regulation.
(…)”;
16. Article 70 of the Regulation of the Collective Funds System and its Managing Societies, approved by SMV Resolution No. 020-2014-SMV-01 (hereinafter, REGULATION) provides as follows:
“Article 70.- Obligation to provide periodic information to Associates The Administrator has the obligation to provide information to its Associates regarding their account statements and the Assembly Calendar. When applicable, it will send information on the price variation of goods under specific Goods Programs and other services contracted. Account statements must be sent at least with the same periodicity in which Assemblies are held. The Assembly Calendar must be sent with a minimum periodicity of three (03) months. The price variation of goods under specific Goods Programs may be included in the account statement that the Administrator sends to the Associate. The Associate's account statement must contain at least the information contained in Annex 8. The modality to be used to provide the aforementioned information must be agreed upon in the Contracts. Additionally, the Administrator may use different electronic communication means that allow the Associate to be able to take adequate and timely knowledge of the respective information. In the event that email is used, this medium must guarantee non-repudiation and allow traceability of the communication.” (Underlining added); B. REGARDING THE SUBMISSION OF PAYMENT RECEIPTS
17. Regarding AUTOPLAN EAFC's obligation to send the respective payment receipts to the associate, clause 7, numeral 7.6, of CONTRACT 1 and CONTRACT 2 establishes the following:
“SEVENTH CLAUSE: ON PAYMENTS
(…)
7.6 Autoplan will issue the respective payment receipts in the name of the Associate, which will be sent to the address indicated by the Associate in the General Conditions of this Contract. Prior to what is stated above, Autoplan must validate the payment made in the Collector Accounts and identify that it has been carried out for the purpose of obtaining the Purchase Certificate.

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendency
Electronically signed document within the framework of Law No. 27269, Law on Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and authorship (…)” (Underlining added);
C. REGARDING THE SUBMISSION OF GENERAL CONTRACT CONDITIONS
18. In relation to AUTOPLAN EAFC's obligation to send the general conditions of the contract to the associate, clause third, numeral 3.2 and clause fifth, numeral 5.2, subsection 5.2.1, and clause eighteenth of CONTRACT 1 and CONTRACT 2 states the following;
“THIRD CLAUSE: OBJECT
(…)
3.2 The General Conditions of the Contract will contain, among others, the data of the Associate and the Group, as well as the duration of the latter and of the Contract. Likewise, the value of the Purchase Certificate, the details of the adjudications, the amount of the installments to be paid, their due dates, and other information required by the SMV will be recorded.
(…)
FIFTH CLAUSE: ASSOCIATE ENTRY, DURATION AND TERM OF THE GROUP (…)
5.2 ASSOCIATE ACCEPTANCE
5.2.1 Once the applicant's registration is approved, they will enter the Group as an Associate, whereupon AUTOPLAN will send them the duly signed General Conditions of the Contract, which will contain the Associate code with the identification of the Program to which they belong, the Group, the position in the Group and their sequence within the position.”
(…)
EIGHTEENTH CLAUSE: CORRELATION OF DOCUMENTS
The General Conditions of the Contract form an integral part of the latter, so that in both documents the same identification number will be recorded in the upper right margin. In this sense, the signing of the General Conditions of the Contract will imply the Associate's agreement regarding the terms and conditions contained in the Contract, which the Associate declares to have received, read and understood, in accordance with what is established in Clause Third and Seventeenth of this document”; D. REGARDING THE DEADLINE FOR ATTENDING TO COMPLAINTS
19. Regarding the resolution of complaints, Article 68 of the REGULATION provides as follows:
“Article 68.- Resolution of complaints
The Administrator must have responsible personnel to attend to the complaints of Associates, subject to what is provided in the Applicable Norms on complaints and claims against entities supervised by the Securities Market Superintendency - SMV, approved by SMV Resolution No. 006-2012-SMV-01, or the norm that replaces it.”;
20. In that sense, Article 3 of the “Applicable Norms on complaints and claims against entities supervised by the Securities Market Superintendency - SMV” approved via SMV Resolution No. 006-2012-SMV-01 (hereinafter, APPLICABLE NORMS ON COMPLAINTS AND CLAIMS) establishes the procedure for complaint handling:
“Article 3.- Handling of complaints by legal entities authorized by the SMV Without prejudice to compliance with the norms that determine the direct handling of complaints that end consumers might formulate and the obligation to have a Complaints Book, within the framework of what is provided by Articles 24 and 150 of the Consumer Protection and Defense Code, Law No. 29571, the legal entities to which the SMV has granted operating authorization are obliged to directly handle any complaint from their clients regarding the services they provide, within a maximum period of thirty (30) calendar days from the date of presentation of the respective complaint. This period may be extended by another equal one when the nature of the complaint justifies it, a situation that is brought to the knowledge of the claimant before the expiration of the initial period. If the claimant requires it, the response must be made in writing. (…)” (Underlining added);
21. Likewise, clause tenth, numeral 10.1, literal c) last paragraph of CONTRACT 1 and CONTRACT 2 establishes:
“TENTH CLAUSE: RIGHTS AND OBLIGATIONS
10.1 RIGHTS OF THE ASSOCIATES:
(…) c) (…)
On the other hand, in case complaints are filed by the Associate, these complaints will be forwarded to the corresponding area of Autoplan, which will have a period of thirty (30) calendar days to resolve the indicated complaint, counted from its receipt. This period may be prorogued according to its nature. The filing of a complaint in accordance with this clause does not constitute a prior avenue nor implies any limitation for the Associate to use another mechanism for dispute resolution. (…)” (Underlining added);
3.2. Of the charges formulated
A. REGARDING THE SUBMISSION OF ASSEMBLY CALENDARS CORRESPONDING TO CONTRACT 1
22. According to what is established in the regulations exposed, managing companies have, among others, the obligation to provide information to their associates regarding the assembly calendar. Likewise, it is specified that assembly calendars must be sent with a minimum periodicity of three (3) months, through the modality established in CONTRACT 1;
23. In that sense, AUTOPLAN EAFC had to send to the COMPLAINANT, in their capacity as associate of the “Plan 21” Program, Group No. 22, their assembly calendars in which they were required to participate as an associate, from the first assembly in which they were required to participate;
24. Regarding this, the COMPLAINANT has stated that AUTOPLAN EAFC did not formally inform them of the date of holding their first three (3) associate assemblies of the group to which they joined. Likewise, the complainant points out that the administering company failed to comply with what is established in the last paragraph of

PERÚ Ministry of Economy and Finance

point 4 3 of the Associates' Guidebook, meaning that AUTOPLAN EAFC also would not have delivered the schedule of subsequent assemblies after its first assembly;

Based on what was stated by the complainant,
through the OFFICE LETTER, the managing company was requested a copy of the receipt of notification of the call for the three (3) first assemblies and the schedule of the assemblies in which the complainant was required to participate, for each of the contracts signed;
In response to the request made, AUTOPLAN EAFC
presented the document titled “Receipt of Contract Autoplan” through which it is recorded, among other things, that the COMPLAINANT received on April 8 of 2021 (date of signing of CONTRACT 1) the schedule of the three first assemblies in which the complainant was required to participate, held on April 15 of 2021 (Inaugural Assembly), May 26 and June 25 of 2021 (Regular Assemblies), as recorded in said document;
However, AUTOPLAN EAFC failed to
present the receipts of notification of the remaining assembly schedules corresponding to CONTRACT 1, for the assemblies held from July 2021 onwards, until the date of termination of CONTRACT 1, May 11, 2022, as reported by AUTOPLAN EAFC, in the “File of associates' status (SIT)”4 ;
In this sense, it is noted that AUTOPLAN EAFC
would have breached clause 10, paragraph 10.4, letter l) of CONTRACT 1 and article 70 of the REGULATIONS, since it has not been proven that it sent to the COMPLAINANT the assembly schedules, for the assemblies held from July 2021 to May 2022;
Therefore, it was attributed to AUTOPLAN EAFC THAT
it would have committed one (1) minor infraction typified in Annex XIII, paragraph 3, item
3.7 of the SANCTIONS REGULATIONS, according to which it constitutes an infraction: “Not to send in a timely manner to the associates information on account statements or assembly schedules”;

B. ON THE TRANSMISSION OF ASSEMBLY SCHEDULES CORRESPONDING TO CONTRACT 2

According to what is established in the
regulations exposed, managing companies have, among others, the obligation to provide information to their associates about the assembly schedule. Likewise, it is specified that assembly schedules must be sent with a minimum frequency of three (3) months, through the modality established in CONTRACT 2;
In this sense, AUTOPLAN EAFC had to send to the
COMPLAINANT, in her capacity as an associate of the “Plan 21” Program, Group No. 22, her assembly schedules in which she was required to participate as an associate, from the first assembly in which she was required to participate;

3
“The Administrator must communicate to the associates the date of holding the Inaugural Allocation Assembly and deliver the schedule of subsequent assemblies, with an advance of at least five (5) business days before the holding of said assembly.”

4 According to what is stated in the “Technical Specifications Manual for the submission to the SMV of information of collective fund management companies” approved by Superintendent Resolution No. 102-2016- SMV/02.

PERÚ Ministry of Economy and Finance

Regarding this, the COMPLAINANT has stated that
AUTOPLAN EAFC did not formally inform her of the date of holding of her first three (3) assemblies of associates of the group to which she joined. Likewise, the complainant states that the managing company breached what is established in the last paragraph of point 4 5 of the Associates' Guidebook, meaning that AUTOPLAN EAFC also would not have delivered the schedule of the assemblies subsequent to its first assembly;
Based on what was stated by the complainant,
through the OFFICE LETTER, the managing company was requested a copy of the receipt of notification of the call for the three (3) first assemblies and the schedule of the assemblies in which the complainant was required to participate, for each of the contracts signed;
In response to the request made, AUTOPLAN EAFC
presented the document titled “Receipt of Contract Autoplan” through which it is recorded, among other things, that the COMPLAINANT received on April 8 of 2021 (date of signing of CONTRACT 2) the schedule of the three first assemblies in which the complainant was required to participate, held on April 15 of 2021 (Inaugural Assembly), May 26 and June 25 of 2021 (Regular Assemblies);
However, AUTOPLAN EAFC failed to
present the receipts of notification of the remaining assembly schedules corresponding to CONTRACT 2, for the assemblies held from July 2021 onwards, until the date of termination of CONTRACT 2, May 11, 2022, as reported by AUTOPLAN EAFC, in the “File of associates' status (SIT)”6 ;
In this sense, it is noted that AUTOPLAN EAFC
would have breached clause 10, paragraph 10.4, letter l) of CONTRACT 2 and article 70 of the REGULATIONS, since it has not been proven that it sent to the COMPLAINANT the assembly schedules, for the assemblies held from July 2021 to May 2022;
Therefore, it was attributed to AUTOPLAN EAFC that
it would have committed one (1) minor infraction typified in Annex XIII, paragraph 3, item
3.7 of the SANCTIONS REGULATIONS, according to which it constitutes an infraction: “Not to send in a timely manner to the associates information on account statements or assembly schedules”;

C. ON THE TRANSMISSION OF ACCOUNT STATEMENTS CORRESPONDING TO CONTRACT 1

According to what is established in the
regulations exposed, managing companies have, among others, the obligation to provide information to their associates about their account statements, which must be sent at least with the same frequency in which the assemblies are held and, through the modality established in CONTRACT 1;
Regarding this matter, it should be noted that CONTRACT
1 (Program Plan 21, Group 22) was signed on April 8, 2021; and, subsequently,

5
“The Administrator must communicate to the associates the date of holding the Inaugural Allocation Assembly and deliver the schedule of subsequent assemblies, with an advance of at least five (5) business days before the holding of said assembly.”

6 According to what is stated in the “Technical Specifications Manual for the submission to the SMV of information of collective fund management companies” approved by Superintendent Resolution No. 102-2016- SMV/02.

PERÚ Ministry of Economy and Finance

was terminated on May 11, 2022, as informed by AUTOPLAN EAFC in the “File of associates' status (SIT)”;

In this sense, AUTOPLAN EAFC had to send to the
COMPLAINANT, in her capacity as an associate of the Plan 21 Program, Group No. 22, her account statements during the validity of her contract, at least with the frequency in which the assemblies are held, that is, for this case they had to be sent monthly;
Regarding this, the COMPLAINANT complained that
AUTOPLAN EAFC never delivered her account statements, breaching article 70 of the REGULATIONS. Thus, within the framework of the preliminary investigations carried out in attention to the complaint presented by the COMPLAINANT, through the OFFICE LETTER, the managing company was requested the receipts of transmission of all account statements sent to the COMPLAINANT since her entry, corresponding to her contracts;
However, AUTOPLAN EAFC has failed to
present the required transmission receipts or any other documentation that allows proving that it sent to the complainant her account statements. Therefore, AUTOPLAN EAFC would have breached what is established in clause 10, paragraph 10.4, letter l) of CONTRACT 1 and article 70 of the REGULATIONS, since it would not have complied with sending the monthly account statements to the COMPLAINANT during the validity of CONTRACT 1;
In this sense, it was attributed to AUTOPLAN EAFC that
it would have committed one (1) infraction classified as minor, according to Annex XIII, paragraph 3, item 3.7 of the SANCTIONS REGULATIONS, according to which it constitutes an infraction: “Not to send in a timely manner to the associates information on account statements or assembly schedules”;

D. ON THE TRANSMISSION OF ACCOUNT STATEMENTS CORRESPONDING TO CONTRACT 2

According to what is established in the
regulations exposed, managing companies have, among others, the obligation to provide information to their associates about their account statements, which must be sent at least with the same frequency in which the assemblies are held and, through the modality established in CONTRACT 2;
Regarding this matter, it should be noted that CONTRACT
2 (Program Plan 21, Group 22) was signed on April 8, 2021; and, subsequently, was terminated on May 11, 2022, as informed by AUTOPLAN EAFC in the “File of associates' status (SIT)”;
In this sense, AUTOPLAN EAFC had to send to the
COMPLAINANT, in her capacity as an associate of the Plan 21 Program, Group No. 22, her account statements during the validity of her contract, at least with the frequency in which the assemblies are held, that is, for this case they had to be sent monthly;
Regarding this, the COMPLAINANT complained that
AUTOPLAN EAFC had never delivered her account statements, breaching
article 70 of the REGULATIONS. Thus, within the framework of the preliminary investigations
carried out in attention to the complaint presented by the COMPLAINANT, through the OFFICE LETTER, the managing company was requested the receipts of transmission of all

PERÚ Ministry of Economy and Finance

account statements sent to the COMPLAINANT since her entry, corresponding to her contracts;

However, AUTOPLAN EAFC failed to
present the required transmission receipts or any other documentation that allows proving that it sent to the complainant her account statements. Therefore, AUTOPLAN EAFC would have breached what is established in clause 10, paragraph 10.4, letter l) of CONTRACT 2 and article 70 of the REGULATIONS, since it would not have complied with sending the monthly account statements to the COMPLAINANT during the validity of CONTRACT 2;
In this sense, it was attributed to AUTOPLAN EAFC that
it would have committed one (1) infraction classified as minor, according to Annex XIII, paragraph 3, item 3.7 of the SANCTIONS REGULATIONS, according to which it constitutes an infraction: “Not to send in a timely manner to the associates information on account statements or assembly schedules”;

E. ON THE TRANSMISSION OF PAYMENT RECEIPTS FOR CONTRACT 1

According to what is established in the
regulations exposed, AUTOPLAN EAFC has the obligation to issue the respective payment receipts in the name of the associate, which will be sent to the address indicated by the latter;
Regarding this matter, the COMPLAINANT in her
complaint writing states that she made a payment of US$ 12,500.00 for the subscription of the contracts. However, she complains that AUTOPLAN EAFC did not deliver any invoice or payment receipt regarding the payments made, breaching clause 7.6 of CONTRACT 1;
Likewise, she attaches to her complaint the payment schedule as of July 7, 2021 (sent by AUTOPLAN EAFC to the complainant), where it is seen that the total of the payments made for CONTRACT 1 amount to a total
of US$ 6,690.90 (for concepts of “Enrollment Fee”, two monthly installments and a foreclosure);
In attention to the facts complained about, through the
OFFICE LETTER, AUTOPLAN EAFC was requested, the “Copy of the payment receipts issued by AUTOPLAN EAFC to the COMPLAINANT, as well as the copy of the receipt of transmission of the same”;
Nevertheless, the managing company has not
presented any documentation that allows proving that it sent to the COMPLAINANT the payment receipts for payments made by the complainant;
Considering the above, AUTOPLAN EAFC has
not complied with observing what is established by clause 7, paragraph 7.6 of the CONTRACT, since it would not have complied with sending all the payment receipts provided by the COMPLAINANT within the framework of CONTRACT 1;
Therefore, it was attributed to AUTOPLAN EAFC that
it would have committed one (1) infraction classified as serious, according to Annex XIII, paragraph 2, item 2.16 of the SANCTIONS REGULATIONS, according to which it constitutes an infraction: “Not to comply with the provisions of the collective fund administration contract celebrated with the associate”;

PERÚ Ministry of Economy and Finance

F. ON THE TRANSMISSION OF PAYMENT RECEIPTS FOR CONTRACT 2

According to what is established in the
regulations exposed, AUTOPLAN EAFC has the obligation to issue the respective payment receipts in the name of the associate, which will be sent to the address indicated by the latter;
Regarding this matter, the COMPLAINANT in her
complaint writing states that she made a payment of US$ 12,500.00 for the subscription of the contracts. However, she complains that AUTOPLAN EAFC did not deliver any invoice or payment receipt regarding the payments made, breaching clause 7.6 of CONTRACT 2;
Likewise, she attaches to her complaint the payment schedule as of July 7, 2021 (sent by AUTOPLAN EAFC to the complainant), where it is seen that the total of the payments made for CONTRACT 2 amount to a total
of US$ 6,426.11 (for concepts of “Enrollment Fee”, two monthly installments, “notary expenses” and a foreclosure);
In attention to the facts complained about, through the
OFFICE LETTER, AUTOPLAN EAFC was requested, the “Copy of the payment receipts issued by AUTOPLAN EAFC to the COMPLAINANT, as well as the copy of the receipt of transmission of the same”;
Nevertheless, the managing company has not
presented any documentation that allows proving that it sent to the COMPLAINANT the payment receipts for payments made by the complainant;
Considering the above, AUTOPLAN EAFC has
not complied with observing what is established by clause 7, paragraph 7.6 of the CONTRACT, since it would not have complied with sending all the payment receipts provided by the COMPLAINANT within the framework of CONTRACT 2;
Therefore, it was attributed to AUTOPLAN EAFC that
it would have committed one (1) infraction classified as serious, according to Annex XIII, paragraph 2, item 2.16 of the SANCTIONS REGULATIONS, according to which it constitutes an infraction: “Not to comply with the provisions of the collective fund administration contract celebrated with the associate”;

G. ON THE TRANSMISSION OF THE GENERAL CONDITIONS OF CONTRACT 1

In her complaint writing, the COMPLAINANT
complains that she was not formally provided with the information corresponding to the value of the monthly installments she had to pay. Likewise, she states that she was not informed in a timely manner regarding the group to which she belongs nor the vacancy she occupies within the group, but that such training was provided to her two months after the contracts were signed, for which reason she cites what is established in article 48 of the REGULATIONS 7 , stating that the information that should be provided to associates has been infringed;

7
“Article 48.- Conduct Standards
In the development of their activities, the Administrator, its directors, managers, officials, subordinates and sellers, must comply with the following general conduct standards:
(...) f) Information to Associates. - Inform within the sales process of Contracts, about the benefits and risks that collective funds are characterized by. Likewise, all information that may be relevant for the adoption of their decisions to subscribe to a Contract or choose the good and/or service object of the Contract must be offered to associates. All information to Associates must be clear, correct, precise, truthful, sufficient and timely. (…)”

PERÚ Ministry of Economy and Finance

Regarding this matter, it should be noted that according to what is
established in clause third, paragraph 3.2 and clause fifth, paragraph 5.2 subsection
5.2.1 of CONTRACT 1, the General Conditions of the contract is the document that
contains, among other data, the group to which the associate joins (as well as the duration of the latter), the code of the associate and the amount of the installments to be paid. Likewise, it is established that upon entering the group, AUTOPLAN EAFC has the obligation to send to the associate said General Conditions of the contract, document that forms an integral part of CONTRACT 1 signed;
In attention to the above, through the OFFICE LETTER
AUTOPLAN EAFC was requested to present information and/or documentation that allows clearing up the facts complained about. Likewise, through Office Letters No. 5175-2023- SMV/10.3 and No. 5440-2023-SMV/10.3 extensions were granted to AUTOPLAN EAFC to the deadline granted in the OFFICE LETTER;
Regarding this, it should be noted that although AUTOPLAN
EAFC sent a copy of CONTRACT 1 signed by the COMPLAINANT, it is observed that it presented a copy of the format of the General Conditions of CONTRACT 1 with the fields left blank (except for the percentage of enrollment fee and administration fee). Likewise, it did not present any means of proof that proves that it sent to the complainant said General Conditions where the group and number of vacancy are recorded, among other data of the complainant's contract;
Considering the above, it is noted that
AUTOPLAN EAFC has not complied with observing what is established by clause third, paragraph 3.2 and clause fifth, paragraph 5.2 subsection 5.2.1 of CONTRACT 1, since AUTOPLAN EAFC has not complied with sending the General Conditions of CONTRACT 1 to the associate;
Therefore, AUTOPLAN EAFC would have committed
one (1) infraction classified as serious according to Annex XIII, paragraph 2, item 2.16 of the SANCTIONS REGULATIONS, according to which it constitutes an infraction: “Not to comply with the provisions of the collective fund administration contract celebrated with the associate”;

H. ON THE TRANSMISSION OF THE GENERAL CONDITIONS OF CONTRACT 2

In her complaint writing, the COMPLAINANT
complains that she was not formally provided with the information corresponding to the value of the monthly installments she had to pay. Likewise, she states that she was not informed in a timely manner regarding the group to which she belongs nor the vacancy she occupies within the group, but that such training was provided to her two months after the contracts were signed, for which reason she cites what is established in article 48 of the REGULATIONS 8 , stating that the information that should be provided to associates has been infringed;

8
“Article 48.- Conduct Standards
In the development of their activities, the Administrator, its directors, managers, officials, subordinates and sellers, must comply with the following general conduct standards:
(...) f) Information to Associates. - Inform within the sales process of Contracts, about the benefits and risks that collective funds are characterized by. Likewise, all information that may be relevant for the adoption of their decisions to subscribe to a Contract or choose the good and/or service object of the Contract must be offered to associates. All information to Associates must be clear, correct, precise, truthful, sufficient and timely. (…)”

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría
71. Regarding this matter, it should be noted that in accordance with what is established in clause third, numeral 3.2 and clause fifth, numeral 5.2 subsection 5.2.1 of CONTRACT 2, the General Conditions of the contract are the document that contains, among other data, the group into which the associate enters (as well as the duration of the latter), the code of the associate and the amount of the installments to be paid. Likewise, it is established that upon the associate entering the group, AUTOPLAN EAFC has the obligation to send said General Conditions of the contract to the associate, a document that forms an integral part of CONTRACT 2 signed;
72. In view of the above, through the OFFICE LETTER, AUTOPLAN EAFC was required to present information and/or documentation that would allow clarifying the reported facts. Likewise, through Office Letters No. 5175-2023-SMV/10.3 and No. 5440-2023-SMV/10.3, extensions were granted to AUTOPLAN EAFC for the deadline granted in the OFFICE LETTER;
73. Regarding this, it should be noted that although AUTOPLAN EAFC submitted a copy of CONTRACT 2 signed by the COMPLAINANT, it is observed that it failed to present a copy of the General Conditions of CONTRACT 2, nor any probative means that accredits that it sent the complainant said General Conditions where the group, number of vacancies, and the value of monthly installments, among other data of the complainant's contract, are recorded;
74. Considering the above, it is noted that AUTOPLAN EAFC would not have complied with observing what is provided for in clause third, numeral 3.2 and clause fifth, numeral 5.2 subsection 5.2.1 of CONTRACT 2, since AUTOPLAN EAFC would not have complied with sending the General Conditions of CONTRACT 2 to the associate;
75. Therefore, it was attributed to AUTOPLAN EAFC that it had incurred in one (1) infringement classified as serious according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infringement: "Not complying with the provisions of the collective fund administration contract celebrated with the associate";
I. ON THE DEADLINE FOR ATTENDING TO COMPLAINTS
76. Through its complaint, the COMPLAINANT indicates that despite having presented before AUTOPLAN EAFC a notarized letter dated July 22, 2021, the administrator company has not complied with attending to said letter. Regarding this, it cites what is established in article 68 of the REGULATION, regarding the resolution of complaints;
77. On this particular matter, there is in the file a copy of a notarized letter dated by the Notary Noya de la Piedra on July 22, 2021 (presented by the complainant), through which, among others, the COMPLAINANT complains to the administrator company that when acquiring the vehicle it did not do so by paying monthly installments but rather a payment of an initial down payment and subsequent payment of 48 installments of US$ 260.00 had been agreed upon. Likewise, that it never agreed to or accepted paying any amount to the Mapfre company to insure the vehicle and that it has never received any email informing about the acquisition of any insurance for its vehicle;
78. Subsequently, the COMPLAINANT refers that although it initially signed a request for the vehicle insurance contracted with Mapfre, through AUTOPLAN EAFC, said insurance seemed too burdensome to her, so she decided to contract the insurance on her own with another company (Rímac Seguros) which had the same coverages as Mapfre's insurance. In this sense, she alleges that she sent an email to the administrator company on July 13, 2021 presenting the payment of the policy and

PERÚ Ministry of Economy and Finance

SMV
Superintendency of the Securities
Market
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship complaining that said contracted insurance be considered, but she has not received any response from AUTOPLAN EAFC;
79. With regard to the above, there is in the file an email sent by the COMPLAINANT to efachin@autoplan.pe and seguros@autoplan.pe through which she indicates that she sends the insurance policy and the payment made to Rímac Seguros, stating "(...) I desire the resolution of my inconvenience since I advised that I did not want the insurance with Mapfre. I made the annual payment of my insurance." It should be noted that in said email the proof of payment of S/ 3,063.00 in favor of Rímac Seguro and a PDF format file are attached;
80. In attention to what is described in the previous paragraph, through literals i) and j) of the OFFICE LETTER, copies of the responses provided to the COMPLAINANT to the notarized letter of July 22, 2021 and to the email of July 13, 2021, respectively, were requested from AUTOPLAN EAFC. Likewise, through Office Letters No. 5175-2023-SMV/10.3 and No. 5440-2023-SMV/10.3, extensions were granted to AUTOPLAN EAFC for the deadline granted in the OFFICE LETTER. However, to date, AUTOPLAN EAFC has not complied with accrediting the attention of said complaints presented by the complainant;
81. At this point, it must be noted that, in accordance with the regulations, the deadline for the resolution of complaints of associates by AUTOPLAN EAFC is thirty (30) calendar days from their receipt, which may be extended by an equal period if warranted, prior communication to the associate;
82. In that sense, the complaints formulated by the COMPLAINANT should have been resolved within thirty (30) days from their receipt; however, AUTOPLAN EAFC would not have complied with attending to the complaints presented by the complainant until August 9 and August 12, 2021, respectively;
83. Considering the above, AUTOPLAN EAFC would not have complied with observing what is provided for in article 68 of the REGULATION, article 3 of the RULES APPLICABLE TO COMPLAINTS AND GRIEVANCES and clause 10, numeral 10.1, literal c), last paragraph of CONTRACT, that is, AUTOPLAN EAFC would not have complied with the legal deadline established to provide a response to the complaints filed by the COMPLAINANT;
84. Therefore, it was attributed to AUTOPLAN EAFC that it had incurred in one (1) infringement classified as serious, according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infringement: "Not complying with the provisions of the collective fund administration contract celebrated with the associate";
3.3. Of the defenses
85. Regarding this, it must be noted that AUTOPLAN EAFC up to the date of issuance of this resolution, has not presented defenses to the charges formulated through the CHARGES OFFICE LETTER;
3.4. Evaluation of the charges
86. Without prejudice to what is stated in the preceding consideration, it is necessary to note that AUTOPLAN EAFC is a company supervised by the SMV, with operating authorization granted through Superintendent Resolution No. 024-2015-SMV/02 of February 17, 2015 and has knowledge of the regulations under which the collective fund system operates, as well as the rights and obligations established in the contracts it administers, therefore it has the obligation to act diligently as an administrator company of

9 Considering the date of the document presented by the COMPLAINANT.

PERÚ Ministry of Economy and Finance

SMV
Superintendency of the Securities
Market
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship collective funds; however, this did not occur, given that the administrator company committed the infringements subject to charges, which impacts the fulfillment of its functions and obligations as an administrator company of collective funds;
87. Additionally, AUTOPLAN EAFC has the obligation to fulfill the contract signed with its associates, which establishes the rights and obligations of the associates and the administrator company and whose model is authorized by the SMV, at the request of AUTOPLAN EAFC;
A. ON THE SUBMISSION OF ASSEMBLY CALENDARS
88. Indeed, in the present case, according to the documents in the file, it is observed that AUTOPLAN EAFC did not comply with sending the assembly calendars to the COMPLAINANT, corresponding to CONTRACT 1 and CONTRACT 2, for the assemblies held between July 2021 until May 2022, since it has not presented the submission records of said assembly calendars to the associate. Consequently, it is observed that AUTOPLAN EAFC failed to comply with what is provided for in clause 10, numeral 10.4, literal l) of CONTRACT 1 and CONTRACT 2 and article 70 of the REGULATION;
B. ON THE SUBMISSION OF ACCOUNT STATEMENTS
89. Likewise, it is observed that AUTOPLAN EAFC did not comply with sending the account statements to the COMPLAINANT during the validity of CONTRACT 1 and CONTRACT 2, that is, from April 8, 2021 to May 11, 2022, since the administrator company has not presented the submission records of said account statements to the associate. Therefore, AUTOPLAN EAFC has failed to comply with what is provided for in clause 10, numeral 10.4, literal l) of CONTRACT 1 and CONTRACT 2 and article 70 of the REGULATION;
C. ON THE SUBMISSION OF PAYMENT RECEIPTS
90. With regard to this charge, it is observed that AUTOPLAN EAFC did not comply with sending to the COMPLAINANT all of the payment receipts, since it has not presented the submission records of the payment receipts to the associate for the amount of US$ 6,69.90 and US$ 6,426.11 (total payments made by the associate for CONTRACT 1 and CONTRACT 2, respectively, according to the payment schedule presented by the administrator company). Consequently, it is observed that AUTOPLAN EAFC has failed to comply with what is provided for in clause 7, numeral 7.6 of CONTRACT 1 and CONTRACT 2;
D. ON THE SUBMISSION OF GENERAL CONDITIONS
91. Regarding this, it is observed that AUTOPLAN EAFC did not comply with sending to the COMPLAINANT the General Conditions of CONTRACT 1 and CONTRACT 2, since it has presented a copy of said documents with fields left blank (except for the percentage of enrollment fee and administration fee). Likewise, it did not present any probative means that accredits that it sent to the complainant said General Conditions where the group and number of vacancies, among other data of the complainant's contract, are recorded. Consequently, it is observed that AUTOPLAN EAFC has failed to comply with what is provided for in clause third, numeral 3.2 and clause fifth, numeral 5.2 subsection 5.2.1 of CONTRACT 1 and CONTRACT 2;
E. ON THE DEADLINE FOR ATTENDING TO COMPLAINTS

PERÚ Ministry of Economy and Finance

SMV
Superintendency of the Securities
Market
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship
92. Regarding this, it is observed that AUTOPLAN EAFC did not comply with attending to the complaints presented by the COMPLAINANT dated July 13 and July 22, 2021, within thirty (30) days from their receipt. Therefore, AUTOPLAN EAFC has failed to comply with what is established by article 68 of the REGULATION, article 3 of the RULES APPLICABLE TO COMPLAINTS AND GRIEVANCES and clause 10, numeral 10.1, literal c), last paragraph of the contracts;
93. In accordance with what has been exposed, it is noted that AUTOPLAN EAFC has incurred in two (2) infringements classified as minor, according to Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION, according to which it constitutes an infringement: "Not timely sending to associates information on account statements or assembly calendars", since it has not complied with sending to the associate the account statements and assembly calendars corresponding to the collective fund administration contracts signed;
94. Likewise, AUTOPLAN EAFC has incurred in three (3) serious infringements typified in Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infringement: "Not complying with the provisions of the collective fund administration contract celebrated with the associate", since it did not timely attend to the complaints presented by the complainant, did not remit all payment receipts, and did not deliver the general conditions of the collective fund administration contracts signed;
IV. EVALUATION OF THE SANCTION
95. According to article 7 of Decree Law No. 21907 on Collective Fund Companies and article 25 of the SANCTIONS REGULATION; in concordance with article 248, numeral 3 10 of the TUO LPAG and article 257 11 of the aforementioned normative body; the administrative sanctions to be imposed

10
"Article 248.- Principles of the administrative sanctioning power The sanctioning power of all entities is additionally governed by the following special principles:
(...)
3. Reasonableness.- Authorities must foresee that the commission of the sanctionable conduct does not result more advantageous for the offender than complying with the infringed norms or assuming the sanction. However, the sanctions to be applied must be proportional to the non-compliance classified as an infringement, observing the following criteria which are indicated for their graduation:
a) The illicit benefit resulting from the commission of the infringement; b) The probability of detection of the infringement; c) The gravity of the damage to the public interest and/or protected legal good; d) The economic harm caused; e) Recidivism, for the commission of the same infringement within a period of one (1) year from when the resolution sanctioning the first infringement became final. f) The circumstances of the commission of the infringement; and g) The existence or not of intent in the offender's conduct". 11 "Article 257°.- Exemptions and mitigating factors of responsibility for infringements 1.- The following constitute exemption conditions for responsibility for infringements:
a) Force majeure or fortuitous event duly proven. b) Acting in compliance with a legal duty or the legitimate exercise of the right of defense. c) Mental incapacity duly proven by the competent authority, provided that this affects the aptitude to understand the infringement. d) Mandatory order of competent authority, issued in the exercise of its functions. e) Error induced by the Administration or by confusing or illegal administrative provision. f) Voluntary remediation by the possible sanctioned party of the act or omission imputed as constitutive of an administrative infringement, prior to the notification of the charge attribution referred to in item 3) of article 255. 2.- The following constitute mitigating conditions of responsibility for infringements:
a) If an administrative sanctioning procedure has begun and the offender recognizes his responsibility expressly and in writing.

PERÚ Ministry of Economy and Finance

SMV
Superintendency of the Securities
Market
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship shall take into account the criteria disposed by Decree Law No. 21907, the SANCTIONS REGULATION and the TUO LPAG;
96. Within that framework, the evaluation of the sanction must consider: a) Offender's antecedents; b) Recidivism; c) Circumstances of the commission of the infringement; d) Economic harm caused and its repercussion in the market; e) Illicit benefit resulting from the commission of the infringement; f) Probability of detection of the infringement; g) Gravity of the damage to the public interest and/or protected legal good; h) Existence or not of intent in the offender's conduct;
97. In that sense, for the purpose of concordance of the criteria of the TUO LPAG, with those indicated in Decree Law No. 21907 and in the SANCTIONS REGULATION, and that these criteria are adequately considered so that their valuation observes the principle of reasonableness and that the sanction to be imposed adapts to these, it proceeds to analyze the following criteria;
98. Regarding the antecedents, in conformity with what is provided by article 25°, literal a) of the SANCTIONS REGULATION, antecedents constitute the firm sanctions imposed by the SMV within the period of four (4) years prior to the commission of the infringement to be sanctioned. Said article specifies that the commission of the same infringement in the year prior to the infringement to be sanctioned is not considered an antecedent;
99. In such sense, from the review carried out in said period, it has been verified that AUTOPLAN EAFC registers the following firm sanctions:
No Resolution Resolved Finality Antecedent (*) Recidivism i Adjunct Superintendent Resolution SMV No. 112-2017-SMV/10 12 AUTOPLAN EAFC is sanctioned with a fine of two (02) UIT, for having incurred in one (01) infringement of a serious nature typified in Annex XIX, numeral 2, item 2.12 of the Sanctions Regulation approved by CONASEV Resolution No. 055-2001-EF/94.10 and its modifying norms (hereinafter PREVIOUS SANCTIONS REGULATION), for not having complied with presenting the First Semester Report of the Compliance Officer of the 2015 exercise, within the deadline established in the Norms for the Prevention of Money Laundering and Financing of Terrorism. 12/12/2017 A, B, C, D, and E No ii Adjunct Superintendent Resolution SMV No. 017-2018-SMV/10 13 AUTOPLAN EAFC is sanctioned with six (06) admonitions and a fine of 15.48 UIT for having incurred in eleven (11) infringements of a minor nature typified in Annex XIV, numeral 3, item 3.1 of the PREVIOUS SANCTIONS REGULATION, for not having complied with presenting periodic information within the deadline established in the applicable regulation. 30/12/2021 A, B, C, D and E No

In cases where the applicable sanction is a fine, it is reduced up to an amount no less than half of its amount. b) Others that are established by special norm".
12 Notified on November 17, 2017.
13 Notified on May 11, 2018.

PERÚ Ministry of Economy and Finance

SMV
Superintendency of the Securities
Market
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship No Resolution Resolved Finality Antecedent (*) Recidivism Through Adjunct Superintendent Resolution SMV No. 070-2021-SMV/10, the reconsideration appeal filed by Autoplan EAFC was declared founded in part and consequently the amount of the fine imposed through article 17 of the Adjunct Superintendent Resolution SMV No. 017-2018-SMV/10 was graduated to 9.675 UIT. iii Adjunct Superintendent Resolution SMV No. 011-2019-SMV/10 14 AUTOPLAN EAFC is sanctioned with two (02) admonitions for having incurred in two (02) infringements of a serious nature typified in Annex XIV, numeral 2, item 2.21 and Annex XIV, numeral 2, item 2.41 of the PREVIOUS SANCTIONS REGULATION, for not having adequately determined the order of preference of the substitute awardees. 11/04/2019 A, B, C, D and E No iv Adjunct Superintendent Resolution SMV No. 004-2020-SMV/10 15 AUTOPLAN EAFC is sanctioned with a fine of three (03) UIT for having incurred in two infringements: one (01) of a serious nature typified in Annex XIV, numeral 2, item 2.22 of the PREVIOUS SANCTIONS REGULATION, for not complying with the conditions established in the regulation for the convocation or celebration of assemblies; and, one (01) of a minor nature typified in Annex XIV, numeral 3, item 3.13 of the PREVIOUS SANCTIONS REGULATION, for not timely sending to the associate information on the assembly calendar. Through RSUP No. 119-2020-SMV/02, the appeal filed by AUTOPLAN EAFC was declared founded in part and consequently the sanction imposed as a fine in article 3° of the Adjunct Superintendent Resolution SMV No. 004-2020-SMV/10 was modified, reducing it from three (3) UIT to two (2) UIT, valid at the time of effective payment of the fine; and, revoking the corrective measure disposed in article 4° of said Adjunct Superintendent Resolution. 01/12/2020 A, B, C, D and E No v Adjunct Superintendent Resolution SMV No. 013-2021-SMV/10 16 AUTOPLAN EAFC is sanctioned with three (03) admonitions and a fine of 28.0045 UIT for having incurred in twenty (20) infringements of a minor nature typified in Annex XIV, numeral 3, item 3.1 of the PREVIOUS SANCTIONS REGULATION and in two (02) infringements of a minor nature typified in Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATION, for not having complied with presenting periodic information within the deadline established by the applicable regulation referred to intermediate financial information and management report. 21/04/2021 A and B No

14 Notified on March 21, 2019.
15 The resolution was subject to appeal by AUTOPLAN EAFC. Subsequently, through Superintendent Resolution No. 119-2020-SMV/02, the appeal was declared founded in part.
16 Notified on March 26, 2021.

PERÚ Ministry of Economy and Finance

Nº	Resolución	Resolvió	Firmeza	Antecedente (*)	Reincidencia
vi	Adjunct Superintendent Resolution SMV No. 060-2021-SMV/10 17	Autoplan EAFC is sanctioned with a fine of 18.3345 UIT for having committed twelve (12) minor infractions typified in Annex I, numeral 3, item 3.1 of the SANCTIONS REGULATION, for failing to submit periodic information within the deadline established by the applicable regulations.	24/01/2022	A and B	No
vii	Adjunct Superintendent Resolution SMV No. 003-2022-SMV/10 18	Autoplan EAFC is sanctioned with four (04) UIT for having committed one (01) grave infraction typified in Annex XIV, numeral 2, item 2.6 of the PREVIOUS SANCTIONS REGULATION, for granting loans to third parties exceeding the limit established by regulations.	17/03/2022	A and B	No

(*) Literals of section 3.3 of this resolution.

With regard to recidivism for the commission of the same infraction, the firm sanction imposed by the SMV within a period of one (1) year prior to the commission of the infraction to be sanctioned is taken into account. Within this framework, it must be stated that AUTOPLAN EAFC does not present sanctions within the aforementioned period for the commission of the same infractions subject of analysis, in the present administrative sanctioning procedure, so that recidivism is not configured;
With regard to the circumstances of the commission of the infractions, it must be mentioned that AUTOPLAN EAFC, in its capacity as a company supervised by the SMV, knows the regulations that govern the collective fund system and, in that sense, its obligations regarding sending the general conditions of the contracts it administers, providing information to members about their account statements, assembly calendars, payment receipts, as well as attending to complaints presented by members in accordance with what is established in the REGULATION and in the contracts it administers;
Notwithstanding the above, in the present case it has been proven that AUTOPLAN EAFC failed to deliver account statements to the COMPLAINANT during the validity of CONTRACT 1 and CONTRACT 2, nor did it deliver the assembly calendars of CONTRACT 1 and CONTRACT 2 corresponding to the assemblies held between July 2021 and May 2022, nor all the payment receipts corresponding to CONTRACT 1 and CONTRACT 2. It also failed to send the General Conditions of CONTRACT 1 and CONTRACT 2 to the member, nor did it attend within the established deadline the complaints presented on July 13 and 22, 2021;
On this matter, it should be noted that AUTOPLAN EAFC, in the development of its activities, is obliged to comply with the regulations that govern the exercise of its activities and its own internal procedures established in the corresponding manuals. Regarding this, the administrator company must implement the necessary procedures and controls for their proper observance. Likewise, it must be reiterated that AUTOPLAN EAFC has the obligation

17 Notified on December 29, 2021.
18 Notified on February 24, 2022.

PERU Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Document electronically signed digitally under Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship to comply with the contract signed with its members, which establishes the rights and obligations of the members and the administrator company and whose model is authorized by the SMV, at the request of the administrator company;

With regard to the damage caused and the repercussion in the market, in the present case, it has not been evidenced that the infractions in which AUTOPLAN EAFC has incurred have produced a concrete quantifiable damage in the market; however, these facts affect the confidence of members or potential members in the collective fund system;
Regarding the illicit benefit resulting from the commission of the infractions, it must be noted that it has not been proven that AUTOPLAN EAFC has obtained a benefit that is directly related to the infractions subject of analysis in the present administrative procedure;
With regard to the probability of detection of the infractions, it must be indicated that the facts constituting the infractions committed by AUTOPLAN EAFC were evidenced when verifying compliance with the applicable regulations for the development of its functions, based on the facts exposed by the COMPLAINANT in the complaint filed against the administrator company, so that the probability of detection of the infraction was low;
Regarding the gravity of the damage to the public interest and/or protected legal good, in the present case it has not been possible to prove that the actions of AUTOPLAN EAFC in the commission of the infractions subject of analysis in the present sanctioning procedure have caused damage to the determinable public interest;
However, a protected legal good has been affected, consisting of the protection of the member, since AUTOPLAN EAFC has failed to comply with the obligation to provide periodic information to the member. The unfulfilled obligation aims to prevent the affectation of the interests of the members, particularly their confidence in the collective fund system, since the submission of account statements allows the former to verify the detail of their contributions based on the paid quotas, the administration fees charged by the society and to control their payments made monthly, as well as the other information established in Annex 8 of the REGULATION;
Likewise, according to what is provided in clause 7, numeral 7.6, of the CONTRACT, the administrator company was obliged to send the payment receipts corresponding to the payments made by the members. In this sense, and in order to avoid a possible affectation to its clients, AUTOPLAN EAFC had to establish procedures to comply with the obligations established in the contract and the regulations of the collective fund system;
Likewise, it must be noted that according to what is provided in article 68 of the REGULATION, the administrator company must have personnel responsible for attending to the complaints of the Members, whose maximum attention deadline, according to article 3 of the NORMS APPLICABLE TO COMPLAINTS AND CLAIMS and clause tenth, numeral 10.1, literal c) second paragraph of the contracts, is 30 calendar days from the date of presentation of the respective complaint;
In this sense, and in order to avoid a possible affectation to its clients, the administrator company must establish the procedures

PERU Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Document electronically signed digitally under Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship to verify the communications received from its members and give them attention, according to the contract and the established norms;

Furthermore, in accordance with what is provided in clause third, numeral 3.2 and clause fifth numeral 5.2 of the contracts, AUTOPLAN EAFC must send, once the registration of the applicant is approved, the general conditions of the contract with all the corresponding data in accordance with the aforementioned regulations;
Thus, taking into account that collective fund administrator companies have the obligation to act in strict compliance with the regulations applicable to them, such as the provisions established in the contracts and the REGULATION, in safeguarding the collective fund system, the transgression of said regulations affects the legal good referred to the integrity of the market, that is, of the collective fund system and especially affects the confidence of members or potential members in the collective fund system;
Regarding the existence or not of intent in the conduct of the offender, it must be specified that intent has not been verified in the conduct of AUTOPLAN EAFC regarding the infractions subject of analysis;
In addition to the above, it corresponds to analyze the exemptions and mitigating circumstances of responsibility established in article 257 of the TUO LPAG as well as the mitigating and exempting conditions of responsibility established in articles 26 and 27 of the SANCTIONS REGULATION;
In accordance with what has been analyzed, in accordance with what is determined in article 257, numeral 1 of the TUO LPAG and article 27 of the SANCTIONS REGULATION, it is not observed that in the present case any of the scenarios that constitute conditions exempting responsibility have been configured;
With regard to the voluntary declaration of the commission of the infractions (article 257, numeral 2 of the TUO LPAG) and the contribution of the offender to its clarification, established in article 26, literals a) and b) of the SANCTIONS REGULATION, it must be indicated that AUTOPLAN EAFC did not present defenses. Consequently, it has not expressly recognized the commission of the infractions subject of evaluation, nor has it contributed to the clarification of the facts imputed as charges;
From what has been exposed, it is concluded that AUTOPLAN EAFC has incurred the commission of two (2) infractions qualified as minor in Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION and three (3) infractions qualified as grave in Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, regarding which it corresponds to impose on AUTOPLAN EAFC a sanction corresponding to the infractions qualified as grave in accordance with article 38 of the SANCTIONS REGULATION;
Regarding this, it should be noted that since the determined infractions are of different nature, it corresponds to impose the sanction for the infraction of greater gravity, as stated in the second paragraph of article 29 19 of the SANCTIONS REGULATION;

19
"Article 29.- CONCURSUS OF INFRACTIONS
(...)
Likewise, when several behaviors qualify as more than one infraction, the sanction corresponding to the most serious infraction is imposed."

PERU Ministry of Economy and Finance

However, taking into account the sanctioning criteria analyzed, and in application of the Principle of Reasonableness contemplated in article 248, numeral 3 of the TUO LPAG which states that the sanctions to be applied shall be proportional to the non-compliance qualified as an infraction, it must be considered that regarding the infractions subject of charges, it has not been evidenced that these have caused economic damage or that they have had repercussion in the market. Likewise, it has not been verified that the administrator company has obtained any illicit benefit with the commission of the infractions subject of charges, nor that it has had intent in its actions regarding this. Likewise, it has been verified that AUTOPLAN EAFC is not a recidivist with respect to the infractions;
In that sense, considering the analysis carried out, this Adjunct Superintendency considers that it corresponds to impose on AUTOPLAN EAFC a fine sanction applicable to minor infractions, in accordance with what is established in article 39 of the SANCTIONS REGULATION, for the infractions under evaluation in the present administrative sanctioning procedure;
Being subject to what is provided by article 32°, numeral 16, of the Regulation of Organization and Functions of the SMV, approved by Supreme Decree No. 216-2011-EF and its modifications;

RESOLVES:

Article 1º.- Declare that Autoplan Collective Fund Administrator Company S.A. has incurred one (1) infraction qualified as grave as established in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for failing to remit all payment receipts to the member corresponding to the contracts.

Article 2º.- Declare that Autoplan Collective Fund Administrator Company S.A. has incurred one (1) infraction qualified as grave as established in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for failing to remit the general conditions of the contracts with the established requirements.

Article 3º.- Declare that Autoplan Collective Fund Administrator Company S.A. has incurred one (1) infraction qualified as grave as established in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for failing to comply with the legal deadline established to provide a response to two complaints filed by the member.

Article 4º.- Declare that Autoplan Collective Fund Administrator Company S.A. has incurred one (1) infraction qualified as minor as established in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for not sending to the member the assembly calendars, corresponding to the contracts for the assemblies held from July 2021 to May 2022.

Article 5º.- Declare that Autoplan Collective Fund Administrator Company S.A. has incurred one (1) infraction qualified

PERU Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Document electronically signed digitally under Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and authorship as minor as established in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, since it failed to send the monthly account statements to the member, corresponding to the contracts, during their validity, that is from April 2021 to May 2022.

Article 6º.- Sanction Autoplan Collective Fund Administrator Company S.A. with a fine of 01 UIT valid at the time of effective payment of the fine for the commission of the infractions referred to in articles 1°, 2°, 3°, 4° and 5° of this resolution.

Article 7º.- This resolution does not exhaust the administrative route, unless it is consented, being able to be challenged before the Adjunct Superintendency of Prudential Supervision through the filing of the reconsideration or appeal resource presented before the same, within the deadline of fifteen (15) business days counted from the day following its notification.

Article 8º.- In the event that this resolution is not subject to challenge through reconsideration or appeal resource within the deadline of fifteen (15) business days of being notified and becomes final, it must be published on the Institutional Page of the SMV in the Unique Digital Platform of the Peruvian State, in observance of what is provided by numeral 1, article 7º of the Policy on diffusion of normative projects, general character legal norms, early agenda and other administrative acts of the SMV, approved by SMV Resolution No. 014-2014-SMV/01 and its modification, and by what is provided in article 14° of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01.

Article 9º.- Transcribe this resolution to Autoplan Collective Fund Administrator Company S.A. to the COMPLAINANT

Omar Gutiérrez Ochoa
Adjunct Superintendent
Adjunct Superintendency of Prudential Supervision

Lineage

Similar documents from other regulators