Adjunct Superintendent Resolution N.° 028-2025-SMV/10 — SMV — PE

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendency
Electronically signed document under the framework of Law N° 27269, Law of Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and authorship Adjunct Superintendent Resolution SMV No. 028-2025-SMV/10 Lima, May 15, 2025 Subject: Autoplan Empresa Administradora de Fondos Colectivos S.A. is sanctioned with a reprimand for committing one (1) serious infringement classified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation for failing to comply with the provisions of the collective fund administration contracts entered into with the associate, by not sending payment receipts to the associate; and one (1) minor infringement classified in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, for not sending account statements corresponding to their collective fund administration contract signed in accordance with applicable regulations.

Administered Entity: Autoplan Empresa Administradora de Fondos Colectivos S.A.
Subject: Administrative sanctioning procedure
File No.: 2024022908

The Adjunct Superintendent of Prudential Supervision

SEEN:

The administrative file No. 2024022908, and Report No. 247-2025-SMV/10.3, issued by the General Superintendent of Prudential Compliance; and,

CONSIDERING:

Pursuant to Article 1 of Law N° 29782, Law for the Strengthening of Securities Market Supervision, 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;

PERÚ Ministry of Economy and Finance

I. FACTS

On September 1, 2021, COMPLAINANT 1 signed with AUTOPLAN EAFC the “Collective Fund Administration Contract. Purchase Certificate Modality of the Autoplan-002 Program” No. 033391, Group No. 66, for the allocation of a purchase certificate for US$ 18,000.00 (Eighteen thousand and 00/100 US dollars) (hereinafter, CONTRACT);
By letter received on July 14, 2022, the COMPLAINANT filed a complaint 2 with the Securities Market Superintendency (SMV) against AUTOPLAN EAFC, in which he states, among other things, that AUTOPLAN EAFC did not deliver his monthly account statements, and that only the account statement corresponding to the month of June 2022 was sent to him. He also complains that AUTOPLAN EAFC did not issue payment receipts for all the deposits he made, which is why the complainant states that he does not know how the payments made were applied;
The COMPLAINANT attached as part of his complaint, among others, the following documents: i) Copy of a Digital Savings Account BCP Account Statement for the month of September 2021, regarding which the COMPLAINANT indicates that a deposit made to AUTOPLAN EAFC on September 1, 2021, for an amount of S/ 1,526.24 (One thousand five hundred twenty-six with 24/100 soles) is appreciated; ii) Copy of a service payment via the BCP APP in favor of AUTOPLAN EAFC for an amount of S/ 3,228.48 (Three thousand two hundred twenty-eight with 48/100 soles; Copy of the email sent on April 11, 2022, by contact@autoplan.pe to the complainant with the subject PAYMENT SCHEDULE COMPLAINANT, informing him of the sending of his payment schedule via this channel; iii) Copy of the payment schedule of the CONTRACT as of April 11, 2022; iv) Copies of eight (8) electronic invoices sent by AUTOPLAN EAFC 3 ; v) Copies of payment records made by the complainant via the BCP application 4 ;

1 In the annex attached to this resolution, the complete data of the natural persons to whom the designations used in this resolution belong are detailed, and likewise, if applicable, the email addresses.
2 File No. 2022029004
3 These are the following: Electronic Invoice No. B001-00232818 with issue date September 9, 2021 for a total amount of USD 849.60 (Eight hundred forty-nine with 60/100 US dollars); Electronic Invoice No. B001-00232944 with issue date September 9, 2021 for a total amount of USD 348.74 (Three hundred forty-eight with 74/100 US dollars); Electronic Invoice No. B001-00233007 with issue date September 9, 2021 for a total amount of USD 7.86 (Seven with 86/100 US dollars); Electronic Invoice No. B001-00246680 with issue date October 20, 2021 for a total amount of USD 356.60 (Three hundred fifty-six with 60/100 US dollars); Electronic Invoice No. B001-00289728 with issue date February 22, 2022 for a total amount of USD 351.91 (Three hundred fifty-one with 91/100 US dollars); Electronic Invoice No. B001-00300952 with issue date March 22, 2022 for a total amount of 355.66 (Three hundred fifty-five with 66/100 US dollars); Electronic Invoice No. B001-00311255 with issue date April 24, 2022 for a total amount of USD 356.60 (Three hundred fifty-six with 60/100 US dollars); Electronic Invoice No. B001-00322337 with issue date May 31, 2022 for a total amount of 377.84 (Three hundred seventy-seven with 84/100 US dollars). 4 These are the following: Copy of payment record in favor of AUTOPLAN EAFC with No. 28091476 for the amount of S/ 1,355.08 (One thousand three hundred fifty-five with 08/100 soles) dated October 20, 2021; Copy of payment record in favor of AUTOPLAN EAFC with No. 01331709 for the amount S/1,355.08 (One thousand three hundred fifty-five with 08/100 soles) dated November 20, 2021; Copy of payment record in favor of AUTOPLAN EAFC No. 58895023 for the amount of S/ 1,355.08 (One thousand three hundred fifty-five with 08/100 soles) dated December 20, 2021; Copy of payment record in favor of AUTOPLAN EAFC No. 00885595 for the amount of S/1,376.48 (One thousand three hundred seventy-six with 48/100 soles) dated January 20, 2022; Copy of payment record in favor of AUTOPLAN EAFC No. 34240583 for the amount of S/ 1,337.25 (One thousand three hundred thirty-seven with 25/100 soles) dated February 22, 2022; Copy of payment record in favor of AUTOPLAN EAFC No. 12088638 for the amount of $ 355.66 (Three hundred fifty-five with 66/100 US dollars) dated March 22, 2022; Copy of payment record in favor of AUTOPLAN EAFC, for the amount of $356.60 (Three hundred fifty-six with 60/100 US dollars)

PERÚ Ministry of Economy and Finance

With Letter No. 3792-2022-SMV/10.3, notified on July 19, 2022 (hereinafter, LETTER), the complaint filed by the COMPLAINANT was forwarded to AUTOPLAN EAFC so that it would send the corresponding comments and was required, among other information, the following documentation and/or information:

“(…) f. Proof of sending of all account statements sent to the COMPLAINANT, since his entry, corresponding to the CONTRACT.
(…) h. Any other information and/or documentation that it considers pertinent to the case and that allows clarifying the facts complained about.”;

By Letter No. 6146-2022-SMV/10.3 notified on December 7, 2022, AUTOPLAN EAFC was informed of an additional time grant;
With the letter presented on December 26, 2022, AUTOPLAN EAFC requested an additional time limit for the presentation of the information required by the LETTER;
On February 14, 2023, AUTOPLAN EAFC signed an Extrajudicial Transaction 5 with the COMPLAINANT (hereinafter, TRANSACTION). According to the TRANSACTION, AUTOPLAN EAFC recognized in favor of the COMPLAINANT the sum of US$ 4,080.24 (Four thousand eighty with 24/100 US dollars) for the concept of return of the total contributions made by the complainant for the CONTRACT. On the other hand, the COMPLAINANT voluntarily and irrevocably recognized that such commitment satisfies in its entirety any economic claim that he might have now or in the future with the administrator company;
In response to the LETTER, on May 3, 2023, AUTOPLAN EAFC sent its comments regarding the complaint, as well as part of the information required by the SMV. In this sense, AUTOPLAN EAFC presented among others, the following documentation, which are in the file: i) Copy of the CONTRACT signed by the COMPLAINANT on September 1, 2021 and with his fingerprint; ii) Copy of the COMPLAINANT's account statement, dated October 11, 2022; iii) Copy of the TRANSACTION; iv) Copy of the email sent on October 13, 2022 by AUTOPLAN EAFC to EMAIL1 (email address provided by the COMPLAINANT in his complaint letter), in which he communicates the account statement for the month of October 2022 of the CONTRACT;
With letter No. 2220-2024-SMV/10.3 (hereinafter, CHARGES LETTER) notified on May 23, 2024, an administrative sanctioning procedure was initiated against AUTOPLAN EAFC, imputing charges for some facts related to the COMPLAINANT's complaint;

americans) dated April 24, 2022; Copy of payment record in favor of AUTOPLAN EAFC No. 27467397 for the amount of $ 377.84 (Three hundred seventy-seven with 84/100 US dollars) dated May 31, 2022.
5 Without prejudice to the foregoing and by virtue of article 200, numeral 200.7 of the Single Text of the General Administrative Procedure Law N° 27444, approved by Supreme Decree No. 004-2019-JUS, this General Superintendent continued with the analysis of the facts contained in the complaint to the extent that these could violate the general interest, within which is to verify compliance with the regulations governing the collective fund system by Autoplan EAFC.

PERÚ Ministry of Economy and Finance

With the letter presented on May 31, 2024, AUTOPLAN EAFC requested an extension of time to present its defenses required by the CHARGES LETTER;
With letter No. 2404-2024-SMV/10.3 notified on June 10, 2024, the SMV, in response to the letter of May 31, 2023, granted AUTOPLAN EAFC the extended time limit requested;
AUTOPLAN EAFC has not presented its defenses to the administrative sanctioning procedure initiated by the CHARGES LETTER, up to the date of issuance of this resolution;
The charges formulated have been the subject of evaluation by the General Superintendent of Prudential Compliance in Report No. 247-2025-SMV/10.3, which has been submitted to the knowledge of this Adjunct Superintendency;
In observance of the Principle of Due Process contemplated in both Article IV, item 1, numeral 1.2 of the Preliminary Title, as well as in Article 248°, numeral 2, of the Single Text of Law N° 27444, General Administrative Procedure Law, approved by Supreme Decree No. 004-2019-JUS (hereinafter, TUO LPAG), by Letter No. 940-2025-SMV/10, the administrative file to which this resolution refers was made available to AUTOPLAN EAFC for review;

II. ISSUES TO BE DETERMINED

In the present administrative procedure, in the opinion of this Adjunct Superintendency, it corresponds to determine the following:
a. Whether AUTOPLAN EAFC incurred or not an infringement provided for in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01 (hereinafter, SANCTIONS REGULATION), for failing to remit to the associate all the payment receipts corresponding to his contract; b. Whether AUTOPLAN EAFC incurred or not an infringement provided for in Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION, for not sending the account statements corresponding to his contracts to the associate;
c. Whether it is appropriate or not to impose a sanction on AUTOPLAN EAFC;

III. ANALYSIS

3.1. On the applicable regulations
ON CONTRACTS

Regarding the CONTRACT, Article 21 of the Regulations of the Collective Fund System and its Administrator Companies, approved by SMV Resolution No. 020-2014-SMV-01 (hereinafter, REGULATIONS) provides:

“Article 21.- Contract
The Contract is of a private nature and has a collective character, it regulates the relationships between Associates and the Administrator, and in it the rights and obligations of both parties are established; its content is governed by what is established in Article 95 of the Regulations.

(…)”. (Underlining added);

A. ON THE REMISSION OF PAYMENT RECEIPTS

Regarding payment receipts, clause seventh numeral 7.6 of the CONTRACT 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 Receiving Accounts and identify that it has been made which is done for the obtaining of the Purchase Certificate.
(…)”;

B. ON THE REMISSION OF ACCOUNT STATEMENTS

Clause 10, numeral 10.4, letter l) of the CONTRACT establishes that the functions and obligations of AUTOPLAN EAFC are the following:

“10.4 FUNCTIONS AND OBLIGATIONS OF AUTOPLAN:
The following are the functions and obligations of the Administrator:
(…) l) Others provided for in the Regulations.
(…)”;

Regarding the remission of account statements, Article 70 of the REGULATIONS provides the following:

“Article 70.- Obligation to provide periodic information to Associates The Administrator has the obligation to provide information to its Associates about their account statements and the schedule of Assemblies. When applicable, it will send information on the price variation of the goods under specific Goods Programs and other services they contract. Account statements must be sent at least in the periodicity in which the Assemblies are held. (…)”;

3.2. On the charges formulated
A. ON THE REMISSION OF PAYMENT RECEIPTS

As stated, 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;
On this matter, the COMPLAINANT states that AUTOPLAN EAFC did not issue him payment receipts for all the deposits he made. In this regard, he states that his payments made to AUTOPLAN EAFC amount to S/ 15,704.49 (Fifteen thousand seven hundred four with 49/100 soles). However, AUTOPLAN EAFC only sent him eight (8) electronic sales invoices which total US$ 3,004.81 (Three thousand four with 81/100 US dollars), an amount even lower than that stated in the Payment Schedule sent by AUTOPLAN EAFC as of April 11, 2022, which reflects a total of deposits of US$ 3,345.80. Furthermore, the COMPLAINANT states that AUTOPLAN EAFC receives the payments, but does not specify how they are distributed. Therefore, the complainant requests AUTOPLAN EAFC to present the proof of sending of the payment receipts for the total amount he paid;
It is important to note that, by the LETTER notified on July 19, 2022, the complaint filed by the COMPLAINANT was forwarded to AUTOPLAN EAFC so that it would present information and/or documentation that allows clarifying the facts complained about;
However, from the review of the letter presented by AUTOPLAN EAFC on May 3, 2023 to the SMV, in response to the LETTER, it is observed that the administrator company has not presented any documentation that allows proving that it sent the COMPLAINANT all the payment receipts for the deposits made by the latter according to the CONTRACT;
On the other hand, according to the payment schedule issued by AUTOPLAN EAFC and presented by the complainant, as of April 11, 2022, the payment of the enrollment fee and seven (7) total installments are observed, which in total sum US$ 3,345.80 (Three thousand three hundred forty-five with 80/100 US dollars). In addition to the above, it is observed that the complainant has presented payment records, among which there are two (2) for the amount of USD $ 356.60 (Three hundred fifty-six with 60/100 US dollars), dated April 24, 2022 and US$ 377.84 (Three hundred seventy-seven with 84/100 US dollars), dated May 31, 2022, made on a date subsequent to the generation of said payment schedule;
Therefore, taking into account the referred payment schedule and the referred payment records attached by the complainant, it could be concluded that the COMPLAINANT paid AUTOPLAN EAFC a total of USD $ 4,080.24 (Four thousand eighty with 24/100 US dollars). Additionally, this amount was confirmed by AUTOPLAN EAFC, in its letter of May 3, 2023, in which it stated that everything paid under the CONTRACT is US$ 4,080.24;
It should be noted that only eight (8) electronic sales invoices presented by the complainant are in the file, which total US$ 3,004.81 (Three thousand four with 81/100 US dollars). That is, AUTOPLAN EAFC would not have issued payment receipts for the amount of USD $ 1,075.43 (One thousand seventy-five with 43/100 US dollars);
Therefore, AUTOPLAN EAFC would have failed to comply with what is established by clause seventh numeral 7.6 of the CONTRACT, since it would not have complied with sending all the payment receipts to the COMPLAINANT within the framework of the CONTRACT;
In this sense, it was imputed to AUTOPLAN EAFC that it would have committed 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 to comply with the provisions of the collective fund administration contract entered into with the associate”;

B. ON THE REMISSION OF ACCOUNT STATEMENTS CORRESPONDING TO THE CONTRACT

As stated, administrator companies have, among others, the obligation to provide information to their associates about their account statements, which must be sent at least in the same periodicity in which the assemblies are held and, through the modality established in the CONTRACT;
In this sense, AUTOPLAN EAFC had to send to the COMPLAINANT, in his capacity as associate of the Autoplan-002 Program, Group No. 66, his account statements during the validity of his contract, at least in the periodicity in which the assemblies are held, that is, for the present case, they had to be sent monthly;
In this regard, the COMPLAINANT complained that AUTOPLAN EAFC did not deliver his monthly account statements, with the exception of the account statement corresponding to the month of June 2022;
In the framework of the preliminary investigations carried out in response to the complaint filed by the COMPLAINANT, by the LETTER the administrator company was required the proof of sending of all account statements sent to the COMPLAINANT since his entry, corresponding to the CONTRACT;
It should be noted that, on May 3, 2023, AUTOPLAN EAFC presented a copy of the updated account statement as of October 11, 2022 corresponding to the COMPLAINANT regarding the CONTRACT. Likewise, it presented a copy of the email dated October 13, 2022 by which it sends the referred account statement to the COMPLAINANT;
Nevertheless, AUTOPLAN EAFC has not complied with presenting the remaining proofs of sending of the account statements that it had to send to the COMPLAINANT during the validity of the CONTRACT;
Therefore, AUTOPLAN EAFC would have failed to comply with what is established in clause 10, numeral 10.4, letter l) of the CONTRACT and Article 70, of the REGULATIONS, since it would not have complied with sending the monthly account statements to the COMPLAINANT, corresponding to the months of September, October, November and December 2021; as well as January, February, March, April, May, July, August and September 2022 6 ;
In this sense, it was imputed to AUTOPLAN EAFC that it would have committed one (1) infringement classified as minor, according to Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION, according to which it constitutes an infringement: “Not to timely remit to associates information on account statements or assembly schedules”;

3.3. On the defenses

In this regard, it must be noted that AUTOPLAN EAFC has not presented defenses to the charges formulated by the CHARGES LETTER up to the date of issuance of this resolution;

3.4. Evaluation of the charges

6 It should be noted that the CONTRACT was resolved on October 31, 2022, according to the information sent by AUTOPLAN EAFC through the Associates Status File (SIT). According to what is stated in the “Manual of Technical Specifications for the remission to the SMV of information from collective fund administrator companies” approved by Superintendent Resolution No. 102-2016-SMV/02.

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

Without prejudice to the foregoing, it is necessary to point out that AUTOPLAN EAFC is a company supervised by the SMV, with operating authorization granted by 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 a collective fund administrator; however, this did not occur, as the administrator company committed two infractions that are the subject of charges; which impacts the fulfillment of its functions and obligations as a collective fund administrator;
Additionally, AUTOPLAN EAFC has the obligation to comply with 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. REGARDING THE REMITTANCE OF PAYMENT RECEIPTS

Indeed, in the present case, according to the documents in the file, it is observed that AUTOPLAN EAFC has not fulfilled sending the complainant all the payment receipts, since it has not presented the remittance charges of the payment receipts to the associate for the amount of US$ 1,075.43. Consequently, it is observed that the administrator company failed to comply with clause 7, numeral 7.6 of the CONTRACT;
Consequently, it is noted that AUTOPLAN EAFC has committed one (1) serious infraction typified in Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infraction: "Not to comply with the provisions of the collective fund administration contract celebrated with the associate";

B. REGARDING THE REMITTANCE OF ACCOUNT STATEMENTS

Likewise, it is observed that AUTOPLAN EAFC has not fulfilled sending the account statements to the COMPLAINANT corresponding to the months of September, October, November, and December 2021; as well as January, February, March, April, May, July, August, and September 2022, since the administrator company has not presented the remittance charges of the aforementioned account statements to the associate. Therefore, AUTOPLAN EAFC has failed to comply with what is established in clause 10, numeral 10.4, literal l) of the CONTRACT and article 70 of the REGULATION;
Consequently, it is noted that AUTOPLAN EAFC has committed one (1) infraction qualified as minor, according to Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION, according to which it constitutes an infraction: "Not to timely remit to the associates information on account statements or assembly calendars";

IV. EVALUATION OF THE SANCTION

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 37 of the TUO LPAG and article

"Article 248.- Principles of the administrative sanctioning power

The sanctioning power of all entities is additionally governed by the following special principles:
(...)

PERÚ Ministry of Economy and Finance

257 8 of the aforementioned normative body; the administrative sanctions imposed must take into account the criteria established by Decree Law No. 21907, the SANCTIONS REGULATION, and the TUO LPAG;

Within that framework, the evaluation of the sanction must consider: a) Offender's antecedents; b) Recidivism; c) Circumstances of the commission of the infraction; d) Economic damage caused and its repercussion in the market; e) Illicit benefit resulting from the commission of the infraction; f) Probability of detection of the infraction; 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;
In that sense, in order to harmonize the criteria of the TUO LPAG, with those indicated in Decree Law No. 21907 and in the SANCTIONS REGULATION, and for these criteria to be considered adequately so that their valuation observes the principle of reasonableness and that the sanction to be imposed adapts to them, it proceeds to analyze the following criteria;
Regarding antecedents, in accordance with what is established 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 infraction to be sanctioned. The aforementioned article specifies that the commission of the same infraction in the year prior to the infraction to be sanctioned is not considered an antecedent;
In this sense, from the review carried out in said period, it has been verified that AUTOPLAN EAFC registers the following firm sanctions:

Nº Resolution Resolved Firmness Antecedent
(*)
Recidivism i
Superintendent
Resolution
AUTOPLAN EAFC is sanctioned with a fine of two (02) UIT, for having committed one (01) infraction of 12/12/2017 A and B No

Reasonableness.- The authorities must foresee that the commission of the sanctionable conduct does not result in more advantage for the offender than complying with the infringed rules or assuming the sanction. However, the sanctions to be applied must be proportional to the non-compliance qualified as an infraction, observing the following criteria that are indicated for their graduation:
a) The illicit benefit resulting from the commission of the infraction; b) The probability of detection of the infraction; c) The gravity of the damage to the public interest and/or protected legal good; d) The economic damage caused; e) Recidivism, for the commission of the same infraction within the period of one (1) year from when the resolution sanctioning the first infraction became firm. f) The circumstances of the commission of the infraction; and g) The existence or not of intent in the offender's conduct".

"Article 257°.- Exemptions and mitigating conditions of responsibility for infractions

1.- The following constitute conditions exempting responsibility for infractions:
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 infraction. d) Mandatory order of a 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 infraction, prior to the notification of the charges referred to in item 3) of article 255.

2.- The following constitute mitigating conditions of responsibility for infractions:
a) If an administrative sanctioning procedure has been initiated, the offender recognizes their responsibility expressly and in writing.
In cases where the applicable sanction is a fine, it is reduced to an amount no less than half of its value. b) Others established by special regulation".

PERÚ Ministry of Economy and Finance

Nº Resolution Resolved Firmness Antecedent
(*)
Recidivism
Adjunct SMV No. 112-
2017-SMV/10 9 nature serious 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 fulfilled to present the First Semester Report of the Compliance Officer of the exercise 2015, within the period established in the Norms for the Prevention of Money Laundering and Financing of Terrorism. ii Superintendent Resolution Adjunct SMV No. 017- 2018-SMV/10 10 AUTOPLAN EAFC is sanctioned with six (06) warnings and a fine of 15.48 UIT for having committed eleven (11) infractions of a minor nature typified in Annex XIV, numeral 3, item 3.1 of the PREVIOUS SANCTIONS REGULATION, for not having fulfilled to present periodic information within the period established in the applicable regulation. By Superintendent Adjunct 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 by article 17 of the Superintendent Adjunct Resolution SMV No. 017-2018-SMV/10 was graduated to 9.675 UIT. 30/12/2021 B No iii Superintendent Resolution Adjunct SMV No. 011- 2019-SMV/10 11 AUTOPLAN EAFC is sanctioned with two (02) warnings for having committed two (02) infractions of a serious nature typified in the
Annex XIV, numeral 2, item 2.21 and Annex XIV,
numeral 2, item 2.41 of the PREVIOUS REGULATION OF SANCTIONS, for not having determined adequately the order of preference of the substitute awardees.
11/04/2019 A and B No iv
Superintendent
Resolution
Adjunct SMV No. 004-
2020-SMV/10 12
AUTOPLAN EAFC is sanctioned with a fine of three (03) UIT for having committed two infractions: one (01) of a serious nature typified in Annex XIV, numeral 2, item 2.22 of the PREVIOUS REGULATION OF SANCTIONS, for not complying with the conditions established in the regulation for the convocation or for the celebration of assemblies; and, one (01) of a minor nature typified in Annex XIV, numeral 3, item 3.13 of the PREVIOUS REGULATION OF SANCTIONS, for not timely remitting to the associate the information on the assembly calendar. By 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 01/12/2020 A and B No

9 Notified on November 17, 2017.
10 Notified on May 11, 2018.
11 Notified on March 21, 2019.
12 The resolution was subject to appeal by AUTOPLAN EAFC. Subsequently, by the Superintendent Resolution No. 119-2020-SMV/02 the appeal was declared founded in part.

PERÚ Ministry of Economy and Finance

Nº Resolution Resolved Firmness Antecedent
()
Recidivism
Superintendent Adjunct Resolution SMV No.
004-2020-SMV/10, reducing it from three (3) UIT to two (2) UIT, valid at the time of effective payment of the fine; and, revoke the corrective measure established in
article 4° of the aforementioned Superintendent Adjunct Resolution.
v
Superintendent
Resolution
Adjunct SMV No. 013-
2021-SMV/10 13
AUTOPLAN EAFC is sanctioned with three (03) warnings and a fine of 28.0045 UIT for having committed twenty (20) infractions of a minor nature typified in Annex XIV, numeral 3, item 3.1 of the PREVIOUS SANCTIONS REGULATION and in two (02) infractions of a minor nature typified in the
Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATION, for not having fulfilled to present
periodic information within the period established by the applicable regulation referred to this intermediate financial information and management report.
21/04/2021 A and B No vi
Superintendent
Resolution
Adjunct SMV No. 060-
2021-SMV/10 14
AUTOPLAN EAFC is sanctioned with a fine of
18.3345 UIT for having committed twelve (12)
infractions of a minor nature typified in the
Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATION, for not having fulfilled to present
periodic information within the period established by the applicable regulation.
24/01/2022 B No vii
Superintendent
Resolution
Adjunct SMV No. 003-
2022-SMV/10 15
AUTOPLAN EAFC is sanctioned AUTOPLAN
EAFC is sanctioned with a fine of 18.3345 UIT for having committed twelve (12) infractions of a minor nature typified in Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATION, for not having fulfilled to present periodic information within the period established by the applicable regulation. 18/03/2022 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 the 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 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 regulate the collective fund system and in that sense, the regulations that oblige it to provide information to associates regarding their account statements and payment receipts to its associates as established in the REGULATION and in the contracts it administers;

13 Notified on March 26, 2021.
14 Notified on December 29, 2021.
15 Notified on February 24, 2022.

PERÚ Ministry of Economy and Finance

Notwithstanding the above, in the present case it has been proven that AUTOPLAN EAFC did not fulfill delivering the account statements to the COMPLAINANT during the validity of the CONTRACT, nor did it provide all the payment receipts corresponding to the CONTRACT;
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 due observance. Likewise, it must be reiterated that AUTOPLAN EAFC has the obligation to comply with 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 the administrator company;
Without prejudice to the foregoing, it should be added that in the present case the administrator company has celebrated the extrajudicial transaction (hereinafter, TRANSACTION) of February 14, 2023 with the COMPLAINANT through which AUTOPLAN EAFC committed to grant the COMPLAINANT, only once, the fixed, total, and invariable sum of US$ 4,080.24 (Four thousand eighty with 24/100 US dollars), sum equivalent to the total of contributions made under the CONTRACT without the application of penalties;
Regarding this, AUTOPLAN EAFC has presented copies of transfer receipts in favor of the COMPLAINANT for the amounts of US$ 2,277.88 and US$ 1,802.36, made on March 9, 2023, which total US$ 4,080.24, according to what is established in Clause Second, numeral 2.1 of the TRANSACTION, which is in File No. 2022029004;
With regard to the damage caused and its 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 associates or potential associates 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 constitutive of the infractions committed by AUTOPLAN EAFC were evidenced when verifying compliance with the applicable regulation to the development of its functions, based on the facts exposed by the COMPLAINANT in the complaint filed against the administrator company, so the probability of detection of the infraction was low;
As for 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 conduct 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 in the protection of the associate, since AUTOPLAN EAFC has

PERÚ Ministry of Economy and Finance

failed to fulfill the obligation to provide periodic information to the associate; as is the case with account statements;

Likewise, according to what is established in clause 7, numeral 7.6, of the CONTRACT, the administrator company was obliged to remit the payment receipts corresponding to the payments made by the associates. In this sense, and in order to avoid possible harm to its clients, AUTOPLAN EAFC should have established procedures to comply with the obligations established in the contract and the regulations of the collective fund system;
In this way, taking into account that collective fund administrator companies have the obligation to act in strict compliance with the regulation applicable to them, such as the provisions established in the CONTRACT and the REGULATION, in safeguarding the collective fund system, the transgression of said regulation affects the legal good referred to the integrity of the market, that is, of the collective fund system and especially affects the confidence of associates or potential associates in the collective fund system;
Regarding the existence or not of intent in the offender's conduct, it must be specified that no intent has 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 conditions of responsibility established in article 257 of the TUO LPAG as well as the mitigating and exculpatory 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 their clarification, established in article 26, literals a) and b) of the SANCTIONS REGULATION, it must be indicated that AUTOPLAN EAFC did not submit 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 the above, it is concluded that AUTOPLAN EAFC has committed one (1) infraction qualified as minor in Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION and one (1) infraction qualified as serious 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 serious according to 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 indicated in the second paragraph of article 29 16 of the SANCTIONS REGULATION;

"Article 29.- CONCOURSE OF INFRACTIONS

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Document electronically signed digitally within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship

However, taking into account the analyzed sanctioning criteria, and in application of the Principle of Reasonableness contemplated in article 248, numeral 3 of the TUO LPAG which states that sanctions to be applied must be proportional to the non-compliance classified as an infraction, it must be considered that regarding the infractions subject to charges, it has not been evidenced that these have caused economic harm or that they have had repercussions 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 to charges, nor that it has had intent in its actions regarding this matter. In the same way, it has been verified that AUTOPLAN EAFC is not a repeat offender with respect to the infractions;
In addition to the above, it must be highlighted that AUTOPLAN EAFC reached a SETTLEMENT with the complainant and effected the return of its contributions to the COMPLAINANT, without the application of penalties, through bank transfers for the total amount of US$ 4,080.24 dated March 9, 2023, whose transfer records have been presented as support for the total return effected in favor of the COMPLAINANT;
Without prejudice to the above, it must be taken into account that, in the present case, through Final Resolution No. 395-2023/CC1 of February 1, 2023 17, Indecopi declared founded a complaint presented by the COMPLAINANT, sanctioning, among others, with a reprimand, for each of the following facts referred to: i) Not issuing to the complainant the payment receipts for the total amounts paid by the complainant for the contract signed 18 and ii) not sending to the complainant all account statements on a monthly basis 19, which correspond to non-compliance with information obligations established in the CONTRACT signed between the COMPLAINANT and AUTOPLAN EAFC;
Regarding this matter, it cannot be lost sight of that, with respect to the principle of proportionality in the administrative sanctioning procedure, the Constitutional Tribunal has pointed out that at the time of determining the sanction to be imposed, the particularities proper to each case must be taken into consideration 20, and considering that the infractions under evaluation in the present sanctioning procedure correspond to infractions derived from non-compliance with obligations established in the CONTRACT, and that AUTOPLAN EAFC has already been sanctioned by Indecopi for said facts, this Adjunct Superintendency considers that it corresponds to impose on AUTOPLAN EAFC a sanction of a reprimand for each one of the infractions under evaluation in the present administrative sanctioning procedure;
Being in accordance with what is provided in article 32°, numeral 16, of the Regulations on Organization and Functions of the SMV, approved by Supreme Decree Nº 216-2011-EF and its amendments;

(…)
Likewise, when several conduct qualify as more than one infraction, the sanction corresponding to the most serious infraction is imposed.”
17 File No. 1378-2022/CC1- COMPLAINT.
18 According to the third and seventh provision of the resolutive part of the INDECOPI RESOLUTION.
19 According to the fifth and seventh provision of the resolutive part of the INDECOPI RESOLUTION.
20 STC 2192-3004-AA/TC.

PERU Ministry of Economy and Finance

RESOLVES:
Article 1º.- Declare that Autoplan Empresa Administradora de Fondos Colectivos S.A has incurred one (1) infraction classified as grave as established in Annex XIII, numeral 2, clause 2.16 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for not having complied with remitting all the payment receipts to the corresponding associate corresponding to its contract.
Article 2º.- Declare that Autoplan Empresa Administradora de Fondos Colectivos S.A has incurred one (1) infraction classified as minor as established in Annex XIII, numeral 3, clause 3.7 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for not remitting the account statements, corresponding to its contract.
Article 3º.- Sanction Autoplan Empresa Administradora de Fondos Colectivos S.A with a reprimand for the commission of the infractions referred to in articles 1° and 2° of this resolution.
Article 4º.- This resolution does not exhaust the administrative route, unless it is consented, and may be challenged before the Adjunct Superintendent of Prudential Supervision by filing a reconsideration or appeal appeal before the same, within the term of fifteen (15) business days counted from the day following its notification.
Article 5º.- In the event that this resolution is not subject to challenge through reconsideration or appeal within the term 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 in numeral 1, article 7º of the Policy on diffusion of normative projects, norms of general character, early agenda and other administrative acts of the SMV, approved by SMV Resolution Nº 014-2014-SMV/01 and its amendment, and by what is provided in article 14° of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01.
Article 6º.- Transcribe this resolution to Autoplan Empresa Administradora de Fondos Colectivos S.A.
Register, communicate and publish.
Omar Gutiérrez Ochoa
Adjunct Superintendent
Adjunct Superintendency of Prudential Supervision

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