Adjunct Superintendent Resolution N° 060-2025-SMV/10 — SMV — PE

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendency
Electronically signed document in 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 N° 060-2025-SMV/10 Lima, December 24, 2025 Summary: Autoplan Collective Fund Administrator Company S.A. is sanctioned with a reprimand for having committed one (1) serious infringement typified in Annex XIII, numeral 2, item 2.17 of the Sanctions Regulation, for failing to communicate the notices to the assemblies in which the associate was entitled to participate. Administered by: Autoplan Collective Fund Administrator Company S.A. Subject: Administrative sanctioning procedure File N°: 2025014861

The Adjunct Superintendent of Prudential Supervision

SEEN:

The administrative file N° 2025014861, and Report N° 1427-2025-SMV/10.3, issued by the General Superintendent of Prudential Compliance; as well as the arguments presented by Autoplan Collective Fund Administrator Company; 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;

I. BACKGROUND

On April 23, 2024, the COMPLAINANT1 signed with Autoplan Collective Fund Administrator Company S.A. (hereinafter, AUTOPLAN EAFC) the “Collective Fund Administration Contract – Purchase Certificate Modality”, of the Autoplan-002 program, with contract N° 180923, with the value of the purchase certificate of US$ 14,000.00 (Fourteen thousand and 00/100 American dollars) (hereinafter, CONTRACT);

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.
Digitally Signed by:
GUTIERREZ
OCHOA Omar
Dario FAU
20131016396 soft
Date: 24/12/2025
12:21:25

PERU Ministry of Economy and Finance

By the document received on August 21, 2024, the COMPLAINANT filed a complaint before the Securities Market Superintendency (SMV) against AUTOPLAN EAFC2, in which he refers, among others, to the non-compliance with Article 107 of the Regulation of the Collective Funds System and its administrator companies, approved by SMV Resolution N°020-2014-SMV-01 (hereinafter, REGULATION) regarding the communication of the notice to the assemblies, which according to the COMPLAINANT was not informed or communicated by any means;
With Letter N° 3698-2024-SMV/10.3, notified on August 23, 2024 (hereinafter, LETTER), AUTOPLAN EAFC was made aware of the complaint filed by the COMPLAINANT so that it would submit the corresponding comments and was required among others, the following documentation and/or information:

“(…) e. Copy of the receipt of notification of the notices to the Assemblies in which the COMPLAINANT was entitled to participate, from the signing of the contract or contracts up to the date of the present Letter.
(…) j. Any other information and/or documentation that it considers pertinent to the case and that allows clarifying the complained facts. (…) ”;

In response to the LETTER, on October 09, 2024, AUTOPLAN EAFC submitted its comments regarding the complaint, as well as part of the information required by the SMV. With this defense, AUTOPLAN EAFC, among other evidence, presented the following:

a. Copy of the receipt of the “Calendar of the next 3 monthly assemblies” of contract N° 180923 of the Autoplan-002 program, for the months of May, June and July 2024, corresponding to groups 001-105, 106- 134 and 135-141, which bears the handwritten signature and fingerprint of the COMPLAINANT. b. Copy of the document named “Receipt of Autoplan Contract”, by which the administrator company records that it delivers i) the collective fund administration contract N°180923, ii) The Associate Handbook and iii) Calendar of the next 3 monthly assemblies, said document is signed with the handwritten signature and fingerprint of the COMPLAINANT on April 23, 2024.
c. Copy of the Collective Fund Administration Contract Purchase Certificate Modality of the Autoplan-002 Program N° 180923 dated April 23, 2024, which is signed with the facial digital signature of the COMPLAINANT on April 23, 2024.
d. Copy of the schedule of the next 3 assemblies, of the Autoplan 002 program, Group 136, corresponding to the assemblies of the months of May, June and July

2 With file N°2024035999

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of 2024, which is signed with the facial digital signature of the COMPLAINANT on April 23, 2024. e. Copy of Annex I - General Conditions of the Collective Fund Administration Contract, which contains the associate's personal data and other data related to his contract, which is signed with the facial digital signature of the COMPLAINANT on April 23, 2024. f. Copy of the document named “Receipt of Autoplan Contract”, which mentions that it delivers to the associate: i) Collective Fund Administration Contract N°180923, ii) Associate Handbook and iii) Calendar of the next 3 monthly assemblies, dated April 23, 2024, which is signed with the facial digital signature of the COMPLAINANT on April 23, 2024; g. Copy of the assembly calendar, corresponding to the Autoplan002 program, Group 136 of the months of May, June and July 2024 which is signed with the facial digital signature of the COMPLAINANT on April 23, 2024;

By Letter N° 1879-2025-SMV/10.3 notified on April 04, 2025 (hereinafter, CHARGES LETTER), an administrative sanctioning procedure was initiated against AUTOPLAN EAFC, charging it with some facts related to the COMPLAINANT's complaint; The charges formulated against AUTOPLAN EAFC, and their evaluation have been the subject of analysis in Report N° 1427-2025-SMV/10.3, which has been submitted to the knowledge of this Adjunct Superintendency;
In observance of the Principle of Due Process contemplated both in Article IV, numeral 1.2, of the Preliminary Title and in article 248, item 2, of the Single Text of the Law N° 27444 Law of the General Administrative Procedure, approved by Supreme Decree N° 004-2019-JUS (hereinafter, TUO LPAG), by Letter N° 5844-2025-SMV/10, notified on October 17, 2025, the administrative file to which this resolution refers was made available to AUTOPLAN EAFC for its review;
As of the notification of Letter N° 5844-2025-SMV/10, AUTOPLAN EAFC had not submitted its defenses to the charges imputed via the CHARGES LETTER; however, on October 27, 2025, it presented a document by which it states its total admission to the charges imputed;

II. MATTERS 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 in infringement of what is established in Annex XIII, numeral 2, item 2.17 of the Sanctions Regulation, approved by Resolution N° 035-2018-SMV/01 (hereinafter, SANCTIONS REGULATION), for failing to communicate the notices to the assemblies in which the associate was entitled to participate. b. Whether it corresponds or not to impose sanctions on AUTOPLAN EAFC;

III. ANALYSIS

CHARGE: ON THE COMMUNICATION OF THE NOTICE OF THE ASSEMBLIES

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OF THE APPLICABLE NORMATIVE

Regarding the CONTRACT, Article 21°, first paragraph, of the REGULATION provides:

“Article 21.- Contract
The Contract is of a private nature and has a collective character, it regulates the relationships between the 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 Regulation. (…) (Underline added).

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

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

Regarding the notice to the assemblies, Article 107° of the REGULATION states the following:

“Article 107.- Inaugural Assembly and Notice
(…)
The notice to the Assemblies must be communicated to the Associates, with an advance of no less than five (5) days before their celebration, through the means established in the Contract and always that it allows obtaining a receipt of receipt by the Associate. The notice of call must contain, as a minimum, the following information: the number of resolution that approves the Program, identification of the Group, date, time and place of the Assembly and date until which the Total Fees can be paid to be considered a qualified Associate as established in the last paragraph of Article 98 of the Regulation. (…) ” (Underline added)

OF THE IMPUTED CHARGE

According to what is established in the normative exposed, the administrator company has the obligation to communicate the notice to the assemblies with an advance of no less than five (5) days before their celebration and always that it allows obtaining a receipt, through the means established in the CONTRACT;
Likewise, the notice of call must contain, as a minimum, the following information: i) the number of resolution that approves the Program, ii) identification of the Group, date, time and place of the Assembly; and, iii) date until which the Total Fees can be paid to be considered a qualified associate as established in the last paragraph of Article 98 of the REGULATION;
In that sense, AUTOPLAN EAFC had to communicate to the COMPLAINANT in his capacity as associate of the “Autoplan-002” Program, Group 136, the notice to the assemblies in which he was entitled to participate as an associate during the validity of the CONTRACT; that is, from the signing of the CONTRACT on April 23, 2024, until it was resolved at the request of the COMPLAINANT, on August 29, 2024;
Regarding this, the COMPLAINANT has stated that AUTOPLAN EAFC did not inform him, nor communicate by any means the notice of the assemblies as stated in Article 107 of the REGULATION;
Based on what was stated by the complainant, via the LETTER, the administrator company was required “Copy of the receipt of notification of the notices to the assemblies in which the COMPLAINANT was entitled to participate, from the signing of the contract (…) up to the date of the present Letter”;
In response to said requirement, on October 09, 2024, AUTOPLAN EAFC presented the copy of two (2) documents named “Receipt of Autoplan contract” one with the handwritten signature and fingerprint of the COMPLAINANT and the other with his facial digital signature, both signed on April 23, 2024, through which it records that it received, among others, the “calendar of the next 3 monthly assemblies”;
In that sense, AUTOPLAN EAFC attached in each case, the referred assembly calendar (one with handwritten signature and fingerprint, and the other with facial digital signature), through which, among others, the administrator company invites the COMPLAINANT, to the assemblies in which he was entitled to participate for the months of May, June and July 20243;
It should be noted that, the documents mentioned above, do not qualify as notices to the assemblies of the COMPLAINANT regarding the months of May, June and July 2024, since they do not contain all the minimum information required by Article 107 of the REGULATION, specifically: i) number of resolution that approves the Autoplan 002 program, and the ii) date until which the COMPLAINANT could pay his total fees to be considered a qualified associate in said assemblies;
Notwithstanding the above, in the referred “Calendars of the next 3 monthly assemblies” presented by AUTOPLAN EAFC, (one with facial digital signature, and the other with handwritten signature and fingerprint of the COMPLAINANT), it is observed that the dates of the assemblies of the months of June and July 2024, differ from each other (for the June assembly: June 8 vs June 21, 2024, for the July assembly: July 8 vs July 23, 2024) respectively. Since the assemblies were held on June 21 and July 24, 20244, respectively;

3 Additionally, as part of the documents digitally signed by the COMPLAINANT on April 23, 2024, there is the document named “Schedule of the next 3 assemblies”, in which, among others, he invited the associate to the assemblies to be held on May 23, 2024, June 08, 2024 and July 8, 2024. 4 According to the “Results of adjudication assembly Autoplan-002 program” of the months of June and July 2024, uploaded on the AUTOPLAN EAFC website (https://www.autoplan.pe/); and the File of Situation of Associates and Adjudications (SIT), presented by AUTOPLAN EAFC, according to what is stated in the “Manual of Technical Specifications for the submission to the SMV of information of the Collective Fund Administrator Companies” approved by Superintendent Resolution N° 102- 2016-SMV/02 (hereinafter, MET), and registered in the SMV's collective fund information systems.

PERU Ministry of Economy and Finance

Consequently, for the months of June and July 2024, the dates were discrepant with each other and/or were wrong; therefore, the COMPLAINANT was not adequately informed regarding the dates on which he was entitled to participate, among others, as established in Article 107 of the REGULATION;
Likewise, taking into account, the date of resolution of the CONTRACT of the COMPLAINANT, the administrator company had to call him to the assemblies until August 29, 20245; however, in the present case, AUTOPLAN EAFC did not present the receipt of reception that accredits that the notice to the assembly of August 23, 20246 was informed to the COMPLAINANT;
Consequently, the documents “Calendar of the next 3 monthly assemblies” attached by AUTOPLAN EAFC regarding the months of May, June and July 2024, do not have all the minimum information required by Article 107 of the REGULATION; and, for the August 2024 assembly, it was not accredited that the corresponding notice was made;
In that sense, it is observed that AUTOPLAN EAFC would have failed to comply with clause 10, numeral 10.4, item l) of the CONTRACT and Article 107° of the REGULATION, by not accrediting that it communicated the notices to the assemblies according to the aforementioned normative, regarding the assemblies in which the COMPLAINANT was entitled to participate for the months of May, June, July and August 2024;
Therefore, AUTOPLAN EAFC would have incurred in one (1) serious infringement typified in Annex XIII, numeral 2, item 2.17 of the SANCTIONS REGULATION, according to which it constitutes an infringement: “Not complying with the conditions established in the normative for the notice or for the celebration of assemblies”;

OF THE DEFENSES AND THEIR EVALUATION

It should be noted that, AUTOPLAN EAFC as of the date of this Resolution has not presented defenses to the imputed charge;
Regarding this, although AUTOPLAN EAFC presented on October 09, 2024, documents through which the COMPLAINANT recorded, among others, having received the calendar of the next 3 monthly assemblies for the months of May, June and July 2024. It should be noted that, said documents do not contain the minimum information required by Article 107° of the REGULATION;
Notwithstanding the above, the dates informed for the months of June and July 2024, were dates discrepant with each other and/or were wrong;
Likewise, AUTOPLAN EAFC did not present the receipt that the notice of August 2024, was informed to the COMPLAINANT, despite being required by the SMV through Letter N°3698-2024-SMV/10.3;
With regard to this charge, it is observed that AUTOPLAN EAFC did not communicate the notices to the assemblies in which it

5 It should be noted that according to the information provided by AUTOPLAN EAFC, the CONTRACT has been resolved since August 29, 2024, at the request of the associate.
6 According to the File of Situation of Associates and Adjudications (SIT), the August 2024 assembly, was held on August 23, 2024.

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corresponded to participate with the COMPLAINANT, for the months of May, June, July and August 2024, which evidences the non-compliance with clause tenth, numeral 10.4, item l) of the CONTRACT and Article 107° of the REGULATION;

Consequently, it is observed that AUTOPLAN EAFC incurred in one (1) infringement classified as serious, according to Annex XIII, numeral 2, item 2.17 of the SANCTIONS REGULATION, according to which it constitutes an infringement: “Not complying with the conditions established in the normative for the notice or for the celebration of assemblies”;

IV. EVALUATION OF THE SANCTION TO BE IMPOSED

According to Article 7 of Decree Law N° 21907 on Collective Fund Companies, modified by Law N°276597 and Article 25 of the SANCTIONS REGULATION; in concordance with Article 248, numeral 38 of the Single Text of the Law N° 27444, Law of the General Administrative Procedure, approved by Supreme Decree N° 004-2019-JUS (hereinafter, TUO LPAG), and Article 2579 of the aforementioned normative body; the administrative sanctions that are imposed must take into account the criteria established by Decree Law N° 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 infringement; d) Economic damage caused and its repercussion on the market; e) Illicit benefit resulting from the commission of the infringement; f) Probability of

7 Through Law N° 27659, Article 7° of Decree Law N° 21907 was modified, providing that administrator companies of collective funds that contravene the provisions of said decree or the regulatory norms issued by the SMV will be sanctioned taking into consideration the antecedents of the offender, the circumstances of the commission of the infringement, the damage caused and its repercussion on the market. 8 “Article 248.- Principles of the administrative sanctioning power The sanctioning power of all entities is additionally governed by the following special principles:
(…)
3. Reasonableness.- The 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 that are indicated for the purposes of 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 damage 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”. 9 “Article 257°.- Exemptions and mitigating factors of responsibility for infringements 1.- The following constitute conditions exempting 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 subsanation by the possible sanctioned person of the act or omission imputed as constitutive of administrative infringement, prior to the notification of the imputation of charges referred to in item 3) of Article 255. 2.- The following constitute conditions mitigating responsibility for infringements:
a) If an administrative sanctioning procedure has been initiated, the offender recognizes his 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 that are established by special norm”.

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendency
Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations, and amendments. The integrity of the document and the authorship detection of the infringement; g) Gravity of the damage to the public interest and/or protected legal good;

In this sense, in order to harmonize the criteria of the TUO LPAG with those set forth in Decree Law No. 21907 and the SANCTIONS REGULATION, and for these criteria to be considered adequately so that their valuation observes the principle of reasonableness and the sanction to be imposed aligns with them, the following criteria are analyzed;
Regarding prior sanctions, in accordance with Article 25, literal a) of the SANCTIONS REGULATION, prior sanctions consist of firm sanctions imposed by the SMV within a period of four (4) years prior to the commission of the infringement to be sanctioned. The aforementioned article specifies that the commission of the same infringement in the year prior to the infringement to be sanctioned is not considered a prior sanction. In this regard, from the review conducted during said period, it has been verified that AUTOPLAN EAFC has 21 firm resolutions as prior sanctions, as detailed below, which imply a total of 36 minor infractions and 28 serious infractions;

Nº	Resolution	Resolved	Firmness
a)	Adjunct Superintendent Resolution SMV No. 017-2018-SMV/1010	Autoplan EAFC is sanctioned with six (6) warnings and a fine of 15.48 UIT for having committed eleven (11) minor infractions typified in Annex XIV, numeral 3, item 3.1 of the Sanctions Regulation, approved by CONASEV Resolution No. 055-2001-EF/94.10 (hereinafter, Previous Sanctions Regulation), for failing to submit periodic information within the deadline established in the applicable regulations. Likewise, it is declared that Autoplan Empresa Administradora de Fondos Colectivos S.A. did not commit four (4) minor infractions typified in Annex XIV, numeral 3, item 3.1 of the Previous Sanctions Regulation; consequently, the administrative sanctioning procedure is concluded in these respects.	30/12/2021
b)	Adjunct Superintendent Resolution SMV No. 004-2020-SMV/1011	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 Sanctions Regulation, for failing to meet the conditions established in the regulations 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 Sanctions Regulation, for not timely sending the associate information regarding the assembly calendar. Through RSUP No. 119-2020-SMV/02, the appeal filed by Autoplan EAFC was declared partially founded, and consequently, the sanction imposed as a fine in Article 3 of 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 the corrective measure disposed of in Article 4 of the aforementioned Adjunct Superintendent Resolution was revoked.	1/12/2020
c)	Adjunct Superintendent Resolution SMV No. 013-2021-SMV/1012	Autoplan EAFC is sanctioned with three (03) warnings and a fine of 28.0045 UIT for having committed twenty (20) minor infractions typified in Annex XIV, numeral 3, item 3.1 of the Previous Sanctions Regulation and two (02) 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 regarding this intermediate financial information and management report.	21/04/2021

10 Notified on May 11, 2018.
11 Notified on February 03, 2020.
12 Notified on March 26, 2021.

PERU Ministry of Economy and Finance

Nº	Resolution	Resolved	Firmness
d)	Adjunct Superintendent Resolution SMV No. 060-2021-SMV/1013	Autoplan Empresa Administradora de Fondos Colectivos S.A. 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
e)	Adjunct Superintendent Resolution SMV No. 003-2022-SMV/1014	Autoplan Empresa Administradora de Fondos Colectivos S.A. is sanctioned with four (04) UIT for having committed one (01) serious infraction typified in Annex XIV, numeral 2, item 2.6 of the Sanctions Regulation, for granting loans to third parties exceeding the limit established by the regulations.	18/03/2022
f)	Adjunct Superintendent Resolution SMV No. 021-2022-SMV/1015	Autoplan Empresa Administradora de Fondos Colectivos S.A. is sanctioned with a fine of 3.0855 UIT for having committed two (2) 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.	2/11/2022
g)	Adjunct Superintendent Resolution SMV No. 004-2024-SMV/1016	Autoplan Empresa Administradora de Fondos Colectivos S.A. is sanctioned with a fine of 08 UIT for having committed two (2) serious infractions typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate.	2/04/2024
h)	Adjunct Superintendent Resolution SMV No. 005-2023-SMV/1017	Autoplan EAFC is sanctioned with a fine of 10 UIT for having committed three (3) serious infractions typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to resolve a contract on the requested date and not considering the associate in the quarterly draws for the return of their contributions; failing to return contributions at the end of a group in the liquidation stage and failing to comply with the established procedure to contact the associate to communicate the date of return of their contributions; and failing to attend to a complaint within the legal deadline.	8/03/2023
i)	Adjunct Superintendent Resolution SMV No. 040-2023-SMV/1018	Autoplan EAFC is sanctioned with a fine of 1.751 UIT, for having committed one (1) minor infraction 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.	11/06/2024
j)	Adjunct Superintendent Resolution SMV No. 044-2023-SMV/1019	Autoplan EAFC is sanctioned with a fine of four (4) UIT for having committed one serious infraction typified in Annex I, numeral 2, item 2.1 of the Sanctions Regulation, for failing to submit information required by the SMV within the framework of preliminary investigations.	4/03/2024

13 Notified on December 29, 2021.
14 Notified on February 24, 2022.
15 Notified on October 06, 2022.
16 Notified on February 03, 2023.
17 Notified on February 13, 2023.
18 Notified on June 16, 2023.
19 Notified on June 22, 2023.

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Nº	Resolution	Resolved	Firmness
k)	Adjunct Superintendent Resolution SMV No. 051-2023-SMV/1020	Autoplan EAFC is sanctioned with a fine of 2 UIT, for having committed one (1) minor infraction typified in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, for failing to send the associate the account statements corresponding to the collective fund administration contracts subscribed to in accordance with the applicable regulations.	4/03/2024
l)	Adjunct Superintendent Resolution SMV No. 052-2023-SMV/1021	Autoplan EAFC is sanctioned with a fine of 2 UIT, for having committed two (2) serious infractions typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to resolve a contract on the requested date and failing to attend to complaints within the legal deadline.	7/03/2024
m)	Adjunct Superintendent Resolution SMV No. 054-2023-SMV/1022	Autoplan EAFC is sanctioned with a warning for having committed one (1) serious infraction typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to resolve a contract on the requested date.	11/09/2023
n)	Adjunct Superintendent Resolution SMV No. 056-2023-SMV/1023	Autoplan EAFC is sanctioned with a fine of 4.2 UIT for having committed three (3) serious infractions typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to comply with the legal deadline established to provide a response to the complaints filed by the associate; failing to comply by having the associate's contract resolved on the date it was requested; and failing to send payment receipts to the associate.	2/04/2024
o)	Adjunct Superintendent Resolution SMV No. 060-2023-SMV/1024	Autoplan EAFC is sanctioned with a warning, for having committed one (1) minor infraction typified in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, for failing to send the associate the account statements and assembly calendars corresponding to the collective fund administration contract subscribed to in accordance with the applicable regulations.	27/10/2023
p)	Adjunct Superintendent Resolution SMV No. 065-2023-SMV/1025	Autoplan EAFC is sanctioned with a fine of 4.5 UIT, for having committed one (1) serious infraction typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to return their contributions within a period of five (5) business days from the presentation of their request.	3/04/2024
q)	Adjunct Superintendent Resolution SMV No. 068-2023-SMV/1026	Autoplan EAFC is sanctioned with a fine of 4.2 UIT for having committed three (3) serious infractions: one (01) typified in Annex XIII, numeral 2, item 2.8 of the Sanctions Regulation and two (02) typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to return the contributions corresponding to the associate, within the established deadline, who withdrew from the group before the celebration of the first assembly; and for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to comply with the legal deadline established to provide a response to the complaint filed by the associate and by failing to send payment receipts to the associate.	4/01/2024

20 Notified on July 11, 2023
21 Notified on July 25, 2023
22 Notified on August 17, 2023.
23 Notified on August 28, 2023. 24 Notified on October 05, 2023.
25 Notified on November 03, 2023.
26 Notified on December 05, 2023.

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Nº	Resolution	Resolved	Firmness
r)	Adjunct Superintendent Resolution SMV No. 004-2024-SMV/1027	Autoplan EAFC is sanctioned with a fine of 6 UIT for having committed four (04) infractions: three (3) serious infractions typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate related to: i) failing to comply with the deadline to return contributions in favor of the associate at the end of their group in the liquidation stage, ii) failing to provide a response to the complaints filed by the associate, and iii) failing to send payment receipts to the associate; and one (1) minor infraction typified in Annex XIII, numeral 3, items 3.7 of the Sanctions Regulation for not timely sending the associates information regarding the account statements. Likewise, it is declared that it does not correspond to sanction Autoplan EAFC, for one (01) minor infraction typified in Annex XIII, numeral 3, item 3.5 of the Sanctions Regulation, and, consequently, the administrative sanctioning procedure is concluded in this respect.	3/04/2024
s)	Adjunct Superintendent Resolution SMV No. 008-2024-SMV/1028	Autoplan EAFC is sanctioned with a warning for having committed one (1) serious infraction typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to comply with the legal deadline established to provide a response to the complaints filed by the associate.	18/03/2024
t)	Adjunct Superintendent Resolution SMV No. 024-2024-SMV/1029	Autoplan EAFC is sanctioned with a fine of 2 UIT for having committed four (04) infractions: two (2) minor infractions typified in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, in one (1) serious infraction typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation and in one (1) serious infraction typified in Annex XIII, numeral 2, item 2.27 of the Sanctions Regulation, for failing to send the associate their account statements; for failing to send the associate their assembly calendars; for failing to comply with the provisions of the collective fund administration contract entered into with the associate by failing to send payment receipts to the associate; and for failing to maintain their register of sellers updated.	27/05/2024
u)	Adjunct Superintendent Resolution SMV No. 031-2024-SMV/1030	Autoplan EAFC is sanctioned with a fine of 2.5 UIT for having committed five (5) infractions: four (4) serious infractions typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, for failing to comply with the provisions of the collective fund administration contract entered into with the associate: i) failing to attend to complaints timely, ii) by non-participation of associates in assembly, iii) by non-remission of payment receipts, and iv) non-remission of general conditions of the contract; and one (1) minor infraction typified in Annex XIII, numeral 3, items 3.7 of the Sanctions Regulation, for not timely sending the associates information regarding the account statements.	8/07/2024

Regarding recidivism for the commission of the same infringement, the firm sanction imposed by the SMV within a period of one (1) year prior to the commission of the infringement 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 infringement subject of analysis in the present administrative sanctioning procedure, so recidivism is not configured;
Regarding 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 this sense, the norms that oblige it to communicate the convocation to assemblies, as established in the REGULATION and contracts that administer;
It should be clarified that, although AUTOPLAN EAFC presented charges of receipt of the calendar of the three (3) first assemblies (May, June, and July 2024) in which the COMPLAINANT was required to participate, they did not contain all the minimum information required by Article 107 of the REGULATION, even regarding the months of June and July 2024, the dates were not adequately informed;
Therefore, in the present case, it has been proven that AUTOPLAN EAFC failed to communicate the convocation to the assemblies to the COMPLAINANT, regarding the months of May, June, July, and August 2024;
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;
Regarding 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 concrete economic damage to the associate or have had repercussion in the market;
Regarding the illicit benefit resulting from the commission of the infractions. In this regard, it should 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;
Regarding the probability of detection of the infringement. On this matter, it should 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; therefore, the probability of detection of the infringement 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 conduct of AUTOPLAN EAFC in the commission of the infractions subject of analysis in the present sanctioning procedure has caused damage to the determinable public interest;
However, a protected legal good has been affected, consisting of the protection of the associate, since AUTOPLAN EAFC has failed to comply with the obligation to communicate the convocation to the assemblies to the COMPLAINANT, in accordance with the applicable 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 CONTRACT 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 associates or potential associates in the collective fund system;
Regarding the existence or non-existence of intent in the conduct of the infringer. In this regard, it should be specified that intent in the conduct of AUTOPLAN EAFC regarding the infractions subject of analysis has not been verified;
In addition to the above, it corresponds to analyze the exonerating and mitigating circumstances of responsibility established in Article 257 of the TUO LPAG31, and in Articles 2632 and 2733 of the SANCTIONS REGULATION, respectively;
In this regard, in accordance with what is determined in Article 257, numeral 1 of the TUO LPAG and in Article 27 of the SANCTIONS REGULATION,

27 Notified on February 05, 2024.
28 Notified on February 23, 2024.
29 Notified on May 03, 2024.
30 Notified on June 13, 2024.

PERU Ministry of Economy and Finance

31 “Article 257.- Exemptions and mitigating factors for liability for infractions 1.- The following constitute conditions exempting liability for infractions:
a) Fortuitous event or force majeure 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 ability to understand the infraction. d) Mandatory order from a competent authority, issued in the exercise of its functions. e) Error induced by the Administration or by a confusing or illegal administrative provision. f) Voluntary remediation by the potential sanctioned party of the act or omission imputed as constituting an administrative infraction, prior to the notification of the charge referred to in item 3) of article 235. 2.- The following constitute conditions mitigating liability for infractions:
a) If an administrative sanctioning procedure has been initiated and the offender expressly and in writing acknowledges their responsibility.
In cases where the applicable sanction is a fine, it is reduced to an amount not less than half of its value. b) Others established by special regulation.”

32 “Article 26.- Mitigating factors for liability for infractions The following constitute conditions mitigating liability for infractions:
a) Acknowledgment of responsibility by the offender in an express and written manner, once the administrative sanctioning procedure has been initiated.
When the applicable sanction is a fine, it is reduced, taking into account the following:

If the acknowledgment of the infraction is submitted within the deadline granted for the submission of defenses, the reduction amount shall be fifty percent (50%).
If the acknowledgment is submitted after the expiration of the deadline granted for the submission of defenses and before the expiration of the deadline granted to formulate arguments regarding the instruction report, the reduction amount shall be thirty percent (30%).
If the acknowledgment is submitted after the expiration of the deadline granted to formulate arguments regarding the instruction report and until before the issuance of the sanctioning resolution, the reduction amount shall be ten percent (10%).
The acknowledgment of responsibility regarding an infraction must be made in a precise, concise, clear, express, and unconditional manner, and must not contain ambiguous or contradictory expressions; otherwise, it will not be understood as an acknowledgment. If defenses are submitted despite having made an acknowledgment of responsibility, it will be understood as a non-acknowledgment, and the authority will proceed to evaluate the defenses. b) Contribution by the offender to the clarification of the infraction. c) Remediation carried out after its request or the initiation of the administrative sanctioning procedure.

33 “Article 27.- Exemptions from liability for infractions The following constitute conditions exempting liability for infractions:
a) Fortuitous event, force majeure, or another exceptional situation that, in the opinion of the SMV, is equivalent to fortuitous event or force majeure duly proven. b) Acting in compliance with a legal duty or the legitimate exercise of a right of defense. c) Mental incapacity duly proven by the competent authority, provided that this affects the ability to understand the infraction. d) Mandatory order from a competent authority, issued in the exercise of its functions. e) Error induced by the Administration or by a confusing or illegal administrative provision. f) Voluntary remediation by the potential sanctioned party of the act or omission imputed as constituting an administrative infraction, prior to the notification of the charge referred to in item 3) of article 253 of the LPAG and provided that no communication demanding compliance with the obligation had been issued.”

PERU Ministry of Economy and Finance

SMV
Securities Market
Superintendence
Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and the authorship SANCTIONS, it is not observed that in the present case any of the suppositions that constitute conditions exempting liability have been configured;
51. In its written arguments, the administrator states
that it has formally notified the corresponding areas, particularly the Operations, Commercial and Legal departments, in order to correct and standardize the format of the call used for the monthly assemblies, including the number of resolution that approves the AUTOPLAN 002 Program, and the deadline for the total payment of the installments that allows one to be considered a valid associate; and that as a consequence of this, the documents called “Monthly Assembly Calendars” corresponding to the three following assemblies have been modified, expressly incorporating the information required by the regulations, so it considers that it has voluntarily remedied the infraction subject to the charge;
52. Regarding this, it must be indicated that article 27,
letter f) of the Sanctions Regulation establishes that voluntary remediation as an exemption from liability applies only if no communication demanding compliance with the obligation had been issued prior to the charge.
In the present case, it must be indicated that the actions taken by AUTOPLAN EAFC were the result of the request in Letter No. 3698-2024-SMV/10.3, notified on August 23, 2024, prior to the notification of charges;
53. Without prejudice to this, it must be noted that the
supposed measures adopted by the administrator do not remedy the act or omission imputed as constituting the administrative infraction, prior to the notification of the charge; a condition required to apply voluntary remediation as an exemption from liability;
54. Regarding the acknowledgment of responsibility
by the offender (article 257, numeral 2, item a) of the TUO LPAG) and its contribution to the clarification of the infraction, established in article 26, items a) and b), respectively, of the SANCTIONS REGULATION, it must be indicated that AUTOPLAN EAFC in its writing of October 27, 2025 states that in accordance with what was warned by the SMV the documents used to call the assemblies corresponding to the months of May, June and July 2024 did not contain the minimum information required by
article 107 of the REGULATION, so it has adopted measures regarding this, with which
its total waiver must be considered as presented;
55. Regarding this, it must be indicated that article 26 of
the SANCTIONS REGULATION establishes that the acknowledgment of responsibility regarding an infraction must be made in a precise, concise, clear, express and unconditional manner, and must not contain ambiguous or contradictory expressions; conditions that are not observed in what was stated by AUTOPLAN EAFC, so the authority administrative, in this case, this Adjunct Superintendence, cannot interpret or infer the will of the regulated party to recognize or admit the responsibility for the commission of the infraction, if this is not in an express, clear and unconditional manner as stated above;
56. On the other hand, it is observed that the
mitigating condition referred to remediation carried out after its request has not been configured, established in article 26, item c) of the SANCTIONS REGULATION, in relation to the charge imputed;

PERU Ministry of Economy and Finance

SMV
Securities Market
Superintendence
Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and the authorship
57. From the foregoing, it is concluded that AUTOPLAN EAFC
has committed one (1) infraction classified as serious in Annex XIII, numeral 2, item 2.17 of the SANCTIONS REGULATION, regarding which it corresponds to impose on AUTOPLAN EAFC a sanction of a fine of twenty-five (25) and up to fifty (50) Tax Units (UIT) or with the prohibition of the formation of new groups, as established in article 38 of the SANCTIONS REGULATION;
58. 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 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 concrete economic harm or that they have had repercussions in the market. Likewise, it has not been verified that the administrator company has obtained an illicit benefit with the commission of the infractions subject to charges or have caused damage to the determinable public interest, nor that it has had intent in its actions regarding this. Likewise, it has been verified that AUTOPLAN EAFC is not a repeat offender regarding the infractions and indicates that it has adopted measures to mitigate the risk of occurrence of similar events;
59. Therefore, in accordance with what is provided in the last
paragraph of article 25° of the SANCTIONS REGULATION, this Adjunct Superintendence considers that it corresponds to impose on AUTOPLAN EAFC a sanction lower than that provided for serious infractions, in accordance with what is provided in article 39 of the SANCTIONS REGULATION;
60. Being in accordance with what is provided in article 32, numeral
16, of the Regulation of Organization and Functions of the SMV, approved by Supreme Decree No. 216-2011-EF; RESOLVES:
Article 1º.- Declare that Autoplan Empresa
Administradora de Fondos Colectivos S.A has incurred one (01) infraction of serious nature typified in Annex XIII, numeral 2, item 2.17 of the Regulation of Sanctions, approved by SMV Resolution No. 035-2018-SMV/01, for failing to communicate the calls to the assemblies in which the associate was supposed to participate.
Article 2º.- Sanction Autoplan Empresa
Administradora de Fondos Colectivos S.A with a reprimand for the commission of the infraction referred to in article 1° of this Resolution.
Article 3º.- This resolution does not exhaust the administrative
path, unless it is consented, and may be challenged before the Adjunct Superintendence of Prudential Supervision by filing 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 4º.- 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 remains consented, it must be published on the Institutional Website of the SMV in the Unique Digital Platform of the Peruvian State, in observance of what is provided by numeral 1, article 7° 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 by what is provided in article 14° of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01.
Article 5º.- Transcribe this resolution to
Autoplan Empresa Administradora de Fondos Colectivos S.A.
Register, communicate and publish.
Omar Gutiérrez Ochoa
Adjunct Superintendent
Adjunct Superintendence of Prudential Supervision

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