Adjunct Superintendent Resolution No. 010-2025-SMV/11

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship Adjunct Superintendent Resolution SMV No. 010-2025-SMV/11 Lima, January 24, 2025 Subject: Sanction Unión de Cervecerías Peruanas Backus y Johnston S.A.A. with one (01) fine of 9 UIT for having committed one (01) serious infringement type in paragraph 2.22 of numeral 2 of
Annex I of the Sanctions Regulation and with
one (01) reprimand for having committed one (01) serious infringement type in paragraph 2.22 of numeral 2 of
Annex I of the Sanctions Regulation
Administered: UNIÓN DE CERVECERÍAS PERUANAS BACKUS Y JOHNSTON S.A.A.
Subject: Two-tier Administrative Sanctioning Procedure Main Type: Paragraph 2.22 of numeral 2 of Annex I of the Sanctions Regulation SERIOUS INFRACTIONS File No.: 2024025152 The Adjunct Superintendent of Market Conduct Supervision SEEN:
The administrative file No. 2024025152 containing the administrative sanctioning procedure initiated by the General Superintendent of Conduct Compliance of the Securities Market Superintendence – SMV (hereinafter, the IGCC), against Unión de Cervecerías Peruanas Backus y Johnston S.A.A. (hereinafter, the Issuer); as well as Report No. 1450-2024-SMV/11.2 of November 13 2024 (hereinafter, the Report), issued by said IGCC; CONSIDERING:
I. FUNCTION AND COMPETENCE OF THE SASCM

1. That, the IGCC –instructor body of the
   administrative sanctioning procedures (hereinafter, the PAS) referred to in the

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship present case–, has brought to the attention of the Adjunct Superintendence of Market Conduct Supervision of the SMV (hereinafter, SASCM), the PAS of the administrative file No. 2024025152 with the aim that it issues a decision as the first-instance administrative sanctioning body in said PAS. In this way, the SASCM assumes competence in observance of the exercise of the supervision function and of the sanctioning power of the SMV established through the Unified Concordant Text of its Organic Law, Decree Law No. 26126 (hereinafter, LOSMV), and the Unified Ordered Text of the Securities Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF-1 (hereinafter, TUO LMV); as well as by what is provided in the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01 (hereinafter, Sanctions Regulation); and, in articles 42 and 43 of the Organization and Functions Regulation of the SMV, approved by Supreme Decree No. 216-2011-EF (hereinafter, ROF-SMV), in the sense that it is a specific function of the SASCM, imposing sanctions in first-instance administrative for the commission of infractions whose compliance control corresponds to the referred Adjunct Superintendence. Likewise; the SASCM has the powers to issue corrective measures aimed at reversing the situation altered by the commission of the infringement;
2. That, the present PAS corresponds to two (02)
administrative instances in accordance with article 15 of the Sanctions Regulation, and to what is established in numeral 26 of article 12 of the ROF-SMV, which establish that the Superintendent of the Securities Market resolves appeals against resolutions issued in first-instance by the Adjunct Superintendent of the SASCM, with the exception of single-instance procedures;
II. FACTS, CHARGES AND DEFENSES OF THE ADMINISTERED
2.1 Facts
3. That, it was determined that the Issuer did not comply with the
corrective measures ordered in Article 4 of Adjunct Superintendent Resolution SMV No. 079-2022-SMV/11 and in Adjunct Superintendent Resolution SMV No. 037-2023-SMV/11;
2.2 Charges
4. That, as a result of said evaluation, through
Letter No. 2474-2024-SMV/11.2 of August 23, 2024 (hereinafter, the Charge Letter), charges were formulated against the Issuer for not having complied with:
CHARGE ONE
Through Adjunct Superintendent Resolution SMV No. 079-2022-SMV/11 of August 19 2022, the SASCM resolved, among others: “Article 4th.- Dictate as a corrective measure that Unión de Cervecerías Peruanas Backus y Johnston S.A.A., in accordance with what is established in article 21 and numeral 25 of Annex XX ‘On Corrective Measures’ of the Sanctions Regulation approved by SMV Resolution No. 035-2018-SMV/0, disseminate the list of unreclaimed shares and unpaid dividends corresponding to the 2020 economic year, both on its corporate website and on the Securities Market Portal of the Superintendence of

1 Through Supreme Decree No. 020-2023-EF, published on February 10, 2023 in the Official Newspaper El Peruano, the Unified Ordered Text of the Securities Market Law, Legislative Decree No. 861 was approved.

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship Securities Market – SMV, within the term of thirty (30) business days.” (Underline added) It should be noted that the Issuer filed a reconsideration appeal against Adjunct Superintendent Resolution SMV No. 079-2022-SMV/11, which was resolved through Adjunct Superintendent Resolution SMV No. 104-2022-SMV/11 of October 21 2022, which determined to declare said appeal UNFOUNDED and confirm what was established in Adjunct Superintendent Resolution SMV No. 079-2022-SMV/11. In this sense, considering that the resolution resolving the reconsideration appeal was notified to the Issuer through the MVnet system on October 21, 2022, from that date the term of thirty (30) subsequent business days is counted, for compliance with the corrective measure ordered, a term that expired on December 6, 2022. Nevertheless, from the review of the disseminations carried out by open joint-stock companies regarding the rights pending of their minority shareholders on the SMV Institutional Page on the Peruvian State Digital Platform for Citizen Orientation (SMV Institutional Page) and its corporate website 2 it has been verified that, as of the date of issuance of the Charge Letter, the Issuer has not complied with implementing the corrective measure ordered. CHARGE TWO Through Adjunct Superintendent Resolution SMV No. 037-2023-SMV/11 of March 31 2023, the SASCM resolved, among others: “Article 4th.- Dictate as a corrective measure that Unión de Cervecerías Peruanas Backus y Johnston S.A.A., in accordance with what is established in article 21 and numeral 25 of Annex XX ‘On Corrective Measures’ of the Sanctions Regulation approved by SMV Resolution No. 035-2018-SMV/01, disseminate the list of unreclaimed shares and unpaid dividends corresponding to the 2021 economic year on the “SMV Institutional Page on the Peruvian State Digital Platform for Citizen Orientation (www.gob.pe/smv)”, within the term of thirty (30) business days, counted from the day following the notification of this Resolution.” In this sense, considering that the resolution was notified through the MVNet system on March 31, 2023, from that date the term of thirty (30) subsequent business days is counted, for compliance with the corrective measure ordered, a term that expired on May 18, 2023. Nevertheless, from the review of the disseminations carried out by open joint-stock companies regarding the rights pending of their minority shareholders on the SMV Institutional Page it has been verified that, as of the date of issuance of the Charge Letter, the Issuer has not complied with implementing the corrective measure ordered;
2.3 Defenses and Allegations
5. That, the Issuer, despite being validly notified with the Charge Letter, has not presented defenses in the present PAS;
6. That, through Supreme Decree No. 004-2019-JUS,
the Unified Ordered Text of the General Administrative Procedure Law, Law No. 27444 (hereinafter, TUO of the LPAG), was approved, which contains common rules for the actions of the administrative function of the State and regulates all administrative procedures developed in the entities, including special procedures. Likewise, numeral 3) of article 248 of the TUO of the LPAG, points out the

2 https://www.backus.pe/dividendos-no-reclamados

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship criteria regarding the graduation of the sanction: (a) The illicit benefit resulting from the commission of the infringement, (b) The probability of detection of the infringement, (c) The severity 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 the term 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 conduct of the infringer;
7. That, the charges formulated and the criteria regarding the graduation of the sanction have been the subject of evaluation in the Report, which has been submitted to the knowledge of the SASCM;
8. That, in observance of what is provided by numeral 5 of article 255 of the TUO of the LPAG, through Letter No. 5227-2024-SMV/11 of November 18
2024 notified physically on November 22, 2024 and through the MVNet System on November 19, 2024, the Report was sent to the Issuer, so that it formulates its allegations within the term of five (5) business days, that is, until November 29, 2024;
9. That, on December 4, 2024, once the term to present allegations to the Report had expired, the Issuer presented a document in which it expressly acknowledges responsibility for the infringements described in the Charge Letter, for which it requests that the 10% fine reduction be applied, in accordance with what is established in literal a) of article 26 of the Sanctions Regulation 3
;
III. MATTERS TO BE DETERMINED
10. That, in the present PAS it corresponds to determine the following:
(i) If the Issuer incurred or did not incur in the infringements indicated in the Charge Letter and Report; (ii) If it corresponds or does not correspond to impose a sanction on the Issuer;
IV. ANALYSIS
4.1 Applicable Normativity
Financial Information
11. That, with regard to the non-compliance with the corrective measures ordered by Adjunct Superintendent Resolution SMV No. 079-
2022-SMV/11 and Adjunct Superintendent Resolution SMV No. 037-2023-SMV/11, article 13 of the LMV states that legal entities registered in the Registry and issuers of securities registered are obliged to present the information that this

3 “Article 26.- MITIGATING CONDITIONS OF RESPONSIBILITY FOR INFRACTIONS The following constitute mitigating conditions of responsibility for infractions:
a) Express and written acknowledgment of responsibility by the infringer, once the administrative sanctioning procedure has been initiated.
When the applicable sanction is a fine, it is reduced, taking into account the following:
(…)
3. If the acknowledgment is presented after the term granted to formulate allegations to the instruction report has expired and before the issuance of the sanction resolution, the reduction amount will be ten percent (10%).
(…)”

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship law and other provisions of a general character establish;
12. That, article 19 of the Sanctions Regulation
establishes that: “(…) corrective measures are those mandates oriented to restore, reverse, repair, or reinstate that situation altered by the non-compliance with the regulation under the supervision of the SMV. These measures can be dictated prior to the start of an administrative sanctioning procedure or at the moment of the determination of administrative responsibility”;
13. That, the non-compliance with the non-implementation of the corrective measure ordered by the SMV is typified in paragraph 2.22
of numeral 2 of Annex I of the Sanctions Regulation, which states that it constitutes a serious infringement: “Not to remedy or not to do so in a timely manner the observations detected by the SMV, by the representative or internal control responsible or by the body that acts in its place, or by external audit firms, or not to implement the corrective measures that the SMV has ordered within the framework of its competencies”. (Underline added);
14. That, according to article 34 of the Sanctions
Regulation, such infringements are sanctionable with a fine not less than twenty-five (25) UIT and up to fifty (50) UIT;
4.2 Evaluation of the case
15. That, in the administrative file No.
2024025152, which contains the documentation of the present PAS, it is appreciated that through Memorandum No. 298-2024-SMV/11.1 of January 19, 2024 (File No. 2024002382) and Memorandum No. 3035-2023-SMV/11.1 of July 24, 2023 (File No. 2023031678), the General Superintendent of Conduct Supervision (hereinafter, IGSC) –body of the SMV that has within its functions and powers, the supervision of compliance with the norms applicable to issuing companies with securities registered in the RPMV, evaluating the indications of possible infringements, and sends, for its consideration, the reports of indications of infringement respective, to the IGCC–, sent to the IGCC, the result of its evaluation, and specifically what refers to the present case;
16. That, it must be kept in mind that the procedures
and legal forms with which the IGSC conducts its inspection and/or supervision activity and upon concluding it with a report of indications of infringement, determine that its pronouncement or opinion on a specific supervision topic –which can even contain a decision, such as, for example, the adoption of corrective measures–, be an opinion on the merits of the matter; it must be specified that said opinion and the report of indications of infringement of the IGSC is not binding for the IGCC, as established in the second paragraph of article 9 of the Sanctions Regulation 4 ;

4 In article 245 of the TUO of the LPAG it is indicated as forms or modes in which the inspection activity could conclude the following: 1) Certificate of conformity of the activity developed by the administered; 2) Recommendation of improvements or corrections of the activity developed by the administered; 3) The warning of the existence of non-compliances not susceptible of meriting the determination of administrative responsibilities; 4) The recommendation of the start of a procedure with the aim of determining the administrative responsibilities that correspond; 5) The adoption of corrective measures and 6) Other forms as established by special laws. 5 «Article 9.- Preliminary Inquiries as a consequence of supervision actions

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship
17. That, in this way it is had that in the evaluation of
the facts related to the present PAS have intervened and participated previously to the issuance of the present resolution, two (02) other bodies or instances administrative of the SMV, functionally independent among themselves and from this Office; first the IGSC that on its occasion reported the indications of infringement and then the IGCC that, as a result of its evaluation, formulated the Charge Letter and the Report; and at this point of the PAS it corresponds to the Office of the SASCM, issue pronouncement containing its decision regarding the mentioned charges, being precise to indicate that by the nature of the same, as has been previously pointed out, it will be a decision of first-instance administrative;
18. That, with regard to the defenses presented by the Issuer, it must be indicated that the Issuer has not sent the corresponding defenses to the charges formulated, it must be taken into account that the term of ten (10) business days granted for such purpose has elapsed, since the Issuer was notified on August 23, 2024, as verified from the receipt certificate that is in the MVNet system, in application of what is provided in article 37 6 of the MVNet System and SMV Virtual Regulation, approved by SMV Resolution No. 004-2024-SMV/01 (hereinafter, MVNet Regulation), which states that the notification produces legal effects at the time it is recorded as having been received by the Issuer, according to the date and time that is registered in the acknowledgment of receipt certificate self-generated by the SMV Virtual;
19. That, likewise, through document presented on December 04
2024, the Issuer, once the term to present allegations to the Report had expired,

(…)
When said bodies conclude that there are sufficient indications of possible administrative infringements they send the corresponding reports to the General Superintendencies of Compliance, which determine whether it corresponds to start or not an administrative sanctioning procedure. If so, the General Superintendencies of Compliance may carry out additional inspections or investigations of the reported indications. In the case of possible infringements in the scope of the Participatory Financial Financing Activity Regulation and its Managing Societies, the preliminary inquiries are carried out by the General Superintendent of Investigation and Innovation, a dependency that if there are sufficient indications of possible administrative infringements will determine whether it corresponds to start or not an administrative sanctioning procedure. (…)». 6 “Article 37.- Moment and Efficacy of Notifications “37.1 The Electronic Notification procedure is initiated by the SMV with the deposit of the administrative act or administrative action in the Electronic Mailbox of the Users of the SMV Virtual. The SMV Virtual automatically generates the Electronic Notification Certificate. Likewise, the SMV communicates to the email and cell phone of the Users of the SMV Virtual, the data of the notification validly made.
37.2 The Users of the SMV Virtual must carry out the confirmation of receipt through the Acknowledgment of Receipt Certificate during the first five (05) business days following the validly made notification. The Electronic Notification produces legal effects at the time it is recorded as having been received by the User of the SMV Virtual, according to the date and time registered in the Acknowledgment of Receipt certificate self-generated by the SMV Virtual.
37.3 However, if the User of the SMV Virtual does not access the message deposited in their Electronic Mailbox within a term of five (05) business days from the Electronic Notification made, it produces legal effects from the next business day after the expiration of this term.
37.4 Exceptionally, as determined by the bodies or organizational units of the SMV, acts or administrative actions can be notified in cases that require greater speed in the processing of the notification, through personal notification, in addition to the notification via electronic mailbox. In these cases, the notification that first results effective will prevail, according to law.” (Underline added).

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año del Bicentenario, de la consolidación de nuestra Independencia, y de la conmemoración de las heroicas batallas de Junín y Ayacucho" Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml Report, acknowledged responsibility expressly for the infractions subject to charges;
20. That, consequently, the conduct constituting the infraction is accredited; and, administrative responsibility of the Issuer is determined, so it corresponds to analyze the sanction proposal in accordance with the principle of reasonableness and the sanction criteria, which will be evaluated in the following section;
V. DETERMINATION OF THE SANCTION
21. That, it should be clarified that the non-compliance subject to charges is classified as serious in paragraph 2.22 of numeral 2 of Annex I of the Sanctions Regulation, which establishes that it constitutes a serious infraction:
"Not to remedy or not to do so in a timely manner the observations detected by the SMV, by the representative or internal control responsible or the body acting in its place, or by external audit firms, or not to implement the corrective measures ordered by the SMV within the framework of its competencies". (Underlining added);
22. That, according to article 34 of the Sanctions Regulation, such infractions are sanctionable with a fine of not less than twenty-five (25) UIT and up to fifty (50) UIT;
23. That, for the purpose of determining the sanction to be imposed on the Issuer, the sanction criteria established in article 348 of the TUO of the LMV, numeral 3) of article 248 of the TUO of the LPAG and what is provided for in article 25 of the Sanctions Regulation (hereinafter, Sanction Criteria) must be taken into account;
SANCTION CRITERIA
24. That, regarding the Issuer's sanction history, it is established that the offender's history consists of sanctions imposed by the SMV that became final within the four (04) years prior to the moment of the commission of the infraction to be sanctioned. It is also noted that the commission of the same infraction in the year prior to the infraction to be sanctioned is not considered as history. In application of this criterion, it has been verified that the Issuer has sanction history, having been sanctioned for different and the same type of infraction, through five (05) resolutions detailed in the Report;
25. That, regarding recidivism for the commission of the same infraction, paragraph b) of article 25 of the Sanctions Regulation establishes that regarding the commission of the same infraction, a final 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. In this regard, it is verified that there is no recidivism on the part of the Issuer according to what was evaluated in the Report;
26. That, regarding the circumstances of the commission of the infraction, it is worth noting that regarding the first charge, it has been verified that the Issuer has not implemented the corrective measure described in article 4 of the Resolution of the Deputy Superintendent SMV No. 079-2022-SMV/11 of August 19, 2022, confirmed with the Resolution of the Deputy Superintendent SMV No. 104-2022-SMV/11 of October 21, 2022. However, regarding the second charge, it has been verified that the Issuer has remedied its infringing conduct, that is, it has complied with implementing the corrective measure established in article 4 of the Resolution of the Deputy Superintendent SMV No. 037-2023-SMV/11 of March 31, 2023;

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año del Bicentenario, de la consolidación de nuestra Independencia, y de la conmemoración de las heroicas batallas de Junín y Ayacucho" Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml
27. That, regarding the economic damage caused and its repercussion on the market, we must point out that there is indeed damage that affects the market because by not implementing what is established in the corrective measures imposed through the Resolutions, there is an impact on the transparency of the securities market, which is considered a protected legal interest;
28. That, regarding the illicit benefit resulting from the commission of the infraction, it must be indicated that there are not sufficient elements to indicate that the Issuer obtained an illegal benefit as a consequence of the commission of the infractions under evaluation;
29. That, regarding the probability of detection of the infraction, it must be noted that the failure to implement corrective measures is verified through internal control systems, so it is considered that, for this type of non-compliance, such criterion is not relevant and therefore does not modify the sanction proposed;
30. That, regarding the existence or not of intentionality in the offender's conduct, it can be noted that there are not sufficient elements to indicate that the Issuer acted with intent in the commission of the infractions, so this criterion would not have been configured. However, it is necessary to indicate that despite there being no indications to suggest that the Issuer acted with intentionality, it can be affirmed that the Issuer's conduct was negligent, as it did not act with the diligence required given obligations already known by the Issuer;
APPLICATION OF SANCTION CORRESPONDING TO A CLASSIFICATION LOWER THAN PRESCRIBED
32. That, the last paragraph of article 25 of the Sanctions Regulation states that, when from the evaluation of the aforementioned criteria, it is observed that there is no proportionality between the sanction to be imposed and the facts imputed, by exception and through a reasoned resolution, a sanction corresponding to a classification lower than the prescribed one can be imposed;
33. That, in the present PAS and from the evaluation of the sanction criteria, that is, if although the Issuer has sanction history, it does not have the condition of recidivist, it is not observed that economic damage or a grave repercussion on the market has been generated, it has not obtained an illegal benefit and there was no intent in the commission of the infraction; it is considered that, by exception, a sanction corresponding to a classification lower than the prescribed one can be imposed, that is, sanction the infraction imputed to the Issuer as if it were a minor infraction, the

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año del Bicentenario, de la consolidación de nuestra Independencia, y de la conmemoración de las heroicas batallas de Junín y Ayacucho" Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml which according to article 35 of the Sanctions Regulation, is sanctionable with a reprimand or fine of not less than one (1) UIT and up to twenty-five (25) UIT;
34. That, in attention to the Sanction Criteria and the evaluation carried out by this Deputy Superintendence, it corresponds to impose on the Issuer the following sanctions:
(i) Regarding CHARGE ONE, it corresponds to sanction the Issuer with a fine of 10 UIT equivalent to S/ 46,000.00 (Forty-Six Thousand and 00/100 Soles) for not having complied with implementing the corrective measure established in article 4 of the Resolution of the Deputy Superintendent SMV No. 079-2022-SMV/11 of August 19, 2022, confirmed with the Resolution of the Deputy Superintendent SMV No. 104-2022-SMV/11 of October 21, 2022; (ii) Regarding CHARGE TWO, it must be indicated that the Issuer has remedied its infringing conduct, by having complied with implementing the corrective measure established in article 4 of the Resolution of the Deputy Superintendent SMV No. 037-2023-SMV/11 of March 31, 2023 during the present sanctioning administrative procedure, which is considered a mitigating condition of responsibility, according to what is established in paragraph c) of article 26 of the Sanctions Regulation. For this reason, it corresponds to sanction the Issuer with one (01) reprimand; RECOGNITION OF RESPONSIBILITY FOR INFRACTION
35. That, according to article 26 of the Sanctions Regulation, concordant with numeral 2 of article 257 of the TUO of the LPAG, the express and written recognition of responsibility by the offender constitutes a mitigating condition of responsibility;
36. That, as has been stated, by written submission presented on December 04, 2024, the Issuer, once the period granted to formulate allegations to the Report had expired, acknowledged responsibility for the infraction expressly;
37. That, in attention to this, it corresponds to apply a reduction of the fine by 10%, as established in numeral 3 of article 26 of the Sanctions Regulation: “3. If the recognition is presented after the expiration of the period granted to formulate allegations to the instruction report and before the issuance of the sanction resolution, the reduction amount will be ten percent (10%).”;
38. That, consequently, performing the discount for the recognition of responsibility for the infraction, it corresponds to impose on the Issuer as a sanction a fine of 9 UIT equivalent to S/ 41,400.00 (Forty-One Thousand Four Hundred and 00/100 Soles), for the non-compliance detailed in CHARGE ONE;
39. That, the discount for recognition of responsibility is not applicable to the sanction for the non-compliance detailed in CHARGE TWO, as the sanction imposed is a reprimand;
Being in accordance with what is provided in numerales 13 and 36 of article 43 of the Regulation of Organization and Functions of the SMV, approved by Supreme Decree No. 216-2011-EF; RESOLVES:
Article 1º.- Declare that Unión de Cervecerías Peruanas Backus y Johnston S.A.A. has incurred one (01) infraction of a serious nature typified in paragraph 2.22 of numeral 2 of Annex I of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for not complying with implementing the corrective measure ordered by article 4 of the Resolution of the Deputy Superintendent SMV No. 079-2022-SMV/11 of August 19, 2022, confirmed with the Resolution of the Deputy Superintendent SMV No. 104-2022-SMV/11 of October 21, 2022.
Article 2º.- Sanction Unión de Cervecerías Peruanas Backus y Johnston S.A.A. with a fine of 9 UIT equivalent to S/ 41,400.00 (Forty-One Thousand Four Hundred and 00/100 Soles) for what is provided in article 1° of this Resolution.
Article 3º.- Declare that Unión de Cervecerías Peruanas Backus y Johnston S.A.A. has incurred one (01) infraction of a serious nature typified in paragraph 2.22 of numeral 2 of Annex I of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for having remedied its infringing conduct, since it has implemented the corrective measure ordered in article 4 of the Resolution of the Deputy Superintendent SMV No. 037-2023-SMV/11 of March 31, 2023, during the present sanctioning administrative procedure, which constitutes a mitigating condition of responsibility.
Article 4º.- Sanction Unión de Cervecerías Peruanas Backus y Johnston S.A.A. with one (01) reprimand for what is provided in article 3° of this Resolution.
Article 5º.- This Resolution does not exhaust the administrative route, this being able to be challenged before this Deputy Superintendence of Market Conduct Supervision by filing the reconsideration or appeal resource, administrative resources recognized in article 218 of the Single Text of the Law No. 27444, Law of General Administrative Procedure, approved by Supreme Decree No. 004-2019-JUS, within the period of fifteen (15) business days counted from the day following its notification, as it is a procedure of double administrative instance. In case this Resolution is not challenged, the regime of reduction of the corresponding sanction may be applied.
Article 6º.- In case this Resolution is not subject to challenge, it must be published on the “Institutional Page of the SMV on the Unified Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv)”, in observance of what is provided in numeral 1 of article 7 of the “Policy on dissemination 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 by what is provided in the last paragraph of article 14 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01.

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año del Bicentenario, de la consolidación de nuestra Independencia, y de la conmemoración de las heroicas batallas de Junín y Ayacucho" Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml
Article 7º.- Transcribe this Resolution to Unión de Cervecerías Peruanas Backus y Johnston S.A.A.
Register, communicate and publish.
Carlos Rivero Zevallos
Deputy Superintendent
Deputy Superintendence of Market Conduct Supervision