Adjunct Superintendent Resolution No. 046-2025-SMV/11

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 1 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml Adjunct Superintendent Resolution SMV No. 046-2025-SMV/11 Lima, July 31, 2025 Subject: To sanction BANCO DE LA NACIÓN with a (01) reprimand for having committed a (01) minor offense typefied in item 3.1 of section 3 of Annex I of the Sanctions Regulation. Administered entity: BANCO DE LA NACIÓN Subject: Administrative Sanctioning Procedure of single administrative instance Main Type: Item 3.1 of section 3 of Annex I of the Sanctions Regulation MINOR OFFENSES File No.: 2025008805 The Adjunct Superintendent of Supervision of Market Conduct SEEN:
The administrative file no. 2025008805, containing the administrative sanctioning procedure initiated by the General Office of Compliance with Conduct of the Securities Market Superintendence – SMV (hereinafter, IGCC), against BANCO DE LA NACIÓN (hereinafter, the Issuer); as well as Report No. 703-2025-SMV/11.2 (hereinafter, the Report), issued by the IGCC; CONSIDERING:
I. FUNCTION AND COMPETENCE OF THE SASCM

1. That, the IGCC —the instructing body of the administrative sanctioning procedures (hereinafter, PAS) referred to in this case—, has brought to the knowledge of the Adjunct Superintendence of Supervision of Market Conducts of the SMV (hereinafter, SASCM), the PAS of administrative file no. 2025008805, with the aim that it issues a decision as

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 2 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml body of single administrative instance, as appropriate for the type of offenses evaluated in said PAS. In this way, the SASCM assumes competence in observance of the exercise of the supervision function and the sanctioning faculty of the Securities Market Superintendence – SMV established through the Concorded Single Text of its Organic Law, Decree Law No. 26126 (hereinafter, LOSMV), and the Ordered Single Text of the Securities Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF-1 1 (hereinafter, TUO LMV); as well as by what is provided in the Sanctions Regulation, aproved 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 Securities Market Superintendence – SMV, approved by Supreme Decree No. 216-2011-EF (hereinafter, ROF-SMV), in the sense that it is a specific function of the SASCM, to impose sanctions in a single administrative instance, whose control of compliance corresponds to the aforementioned Adjunct Superintendence. Likewise; the SASCM has the faculties to issue corrective measures aimed at reversing the situation altered by the commission of the offense;
II. FACTS, CHARGES AND DEFENSES OF THE ISSUER
2.1 Facts
2. That, it was evaluated whether the Issuer complied or not with
disclosing to the securities market its important facts;
2.2 Charges
3. That, as a result of said evaluation,
through Letter No. 1237-2025-SMV/11.2 (hereinafter, Charge Letter), the following charge was formulated to the Issuer:
To communicate belatedly the important fact referred to in the risk classification report issued by Moody's Local PE Risk Classifier S.A., regarding the "First Subordinated Bonds Program", with Committee date of September 26, 2024, which should have been communicated on the same day; however, it was communicated on September 27, 2024 (File No. 2024040673).
2.3 Defenses
4. That, through writing presented on March 24,
2025, the Issuer presented its defenses stating, among others, the following:
"(...)
The Bank of the Nation expressly, unequivocally and unconditionally states that it recognizes its responsibility in the fact imputed through Letter No. 1237-2025- SMV/11.2, referring to the late submission of the Risk Classification Report issued by Moody’s Local PE Risk Classifier S.A., regarding the "First Subordinated Bonds Program", which we had to communicate on the same 26 of September 2024 and not on September 27, 2024 (as was done), being responsible for having failed to comply with what is established in section 9.1 of article 9 of the Important Facts Regulation.

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

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 3 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml (...) It requests your Intendency to, in attention to the arguments exposed in the present defenses, kindly evaluate the non-imposition of any sanction; or, in case you consider that even though no impact on investor interests has been generated, a sanctioning measure applies, it is requested that this be limited to a written reprimand, in accordance with the mitigating circumstances provided in article 26 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, concordant with article 6 of the Gradual Regime of Sanctions for late submission of financial information, annual report and important facts, approved through SMV Resolution No. 007-2023-SMV/01";
5. That, complementarily, through writing
of April 22, 2025, the Issuer informed that in order to avoid future non-compliance in the reporting of important facts, the issuer adopted additional and concrete measures oriented to strengthen its internal communication channels and guarantee more effective coordination between responsible areas;
6. That, through Supreme Decree No. 004-2019-
JUS, the Ordered Single Text of Law No. 27444, General Administrative Procedure Law (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 entities, including special procedures. Likewise, section 3) of article 248 of the TUO of the LPAG, indicates the criteria regarding the graduation of the sanction: (a) The illicit benefit resulting from the commission of the offense, (b) The probability of detection of the offense, (c) The gravity of the damage to the public interest and/or protected legal good, (d) The economic harm caused, (e) Recidivism, for the commission of the same offense within a period of one (1) year from when the resolution sanctioning the first offense became final, (f) The circumstances of the commission of the offense and, (g) The existence or non-existence of intent in the conduct of the offender;
7. That, the charges, the defenses 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 section 5 of article 255 of the TUO of the LPAG, through Letter No. 3110-2025-SMV/11 of June 02, 2025, the Report was sent to the Issuer so that it formulates its allegations within the term of five (05) business days:
9. That, on this matter, the Issuer on June 10, 2025,
formulates its allegations. Regarding this, it reiterates its arguments contained in its defenses and writings entered into the present PAS, about the fact that the imputed fact has not generated an impact on investor interests, has not been the product of fraud nor constitutes a recidivist conduct; and that immediate application of the corrective measures adopted to avoid future omissions be taken into account, therefore requesting to consider the non-imposition of any sanction;
III. QUESTIONS TO DETERMINE
10. That, in the present PAS it corresponds to determine
the following:

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 4 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml (i) If the Issuer incurred or did not incur the offense 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
11. That, article 30 of the TUO of the LMV), states: “The registration of a certain value or issuance program entails for its issuer the obligation to inform the SMV and, if applicable, to the respective stock exchange or entity responsible for conducting the centralized trading mechanism, of important facts, including negotiations in progress, about itself, the value and the offer made of this, as well as to disclose such facts in a truthful, sufficient and timely manner. The information must be provided to these institutions and disclosed as soon as the fact occurs or the issuer takes knowledge of the same, as the case may be.” (Underline added);
12. That, section 9.1 of article 9 of the Regulation of Important Facts and Confidential Information, approved by SMV Resolution No. 005-2014-SMV/01 (Important Facts Regulation), states: “The Issuer must inform its important fact as soon as such fact occurs or the Issuer takes knowledge of the same, and in no case beyond the day on which this has occurred or has been known (...)”. (Underline added);
13. That, section 5.1 of article 5 of the Important Facts Regulation states the following: “In the Annex that forms part of the present Regulation, an enumerative list of facts, acts, agreements and decisions is included, which aims to facilitate to the Issuer the identification, qualification and classification of information that could qualify as an important fact.” It should be specified that the reference to Annex corresponds to Annex 1 of the mentioned regulation;
14. That, on this matter, section 22 of Annex 1 of the Important Facts Regulation, provides the following: “22. Risk classification reports of the Issuer's securities, as well as their changes, updates or challenges, attaching a copy of the respective classification report.”;
15. That, in view of the above, it would have failed to comply with what is established in section 9.1 of article 9 of the Important Facts Regulation, which states that “The Issuer must inform its important fact as soon as such fact occurs or the Issuer takes knowledge of the same, and in no case beyond the day on which this has occurred or has been known (...)”;
16. That, for purposes of determining the possible sanction, this offense is typified in item 3.1 section 3 of Annex I of the Sanctions Regulation, which states that it constitutes a minor offense: “Submit outside the established deadline, or do so incompletely, or, without observing the technical specifications approved by the SMV or without communicating the approval by the corresponding corporate body, to the SMV, to the Stock Exchange, to the entity in charge of the centralized trading mechanism or to any other entity or subject of the securities market, the individual or consolidated audited financial information, the individual or consolidated interim financial statements, management report, special audit report, important facts and, annual reports.”;
17. That, according to article 35 of the Sanctions Regulation, these offenses are sanctionable with reprimand or fine not less than one (1) UIT and up to twenty-five (25) UIT;
4.2 Evaluation of the case
18. That, in the administrative file no.
2025008805, which contains the documentation of the present PAS, it is appreciated that through Memorandum No. 5361-2024-SMV/11.1 of December 30, 2024 (File No. 2024051952), the General Office of Supervision of Conduct (hereinafter, IGSC) —an organ of the Securities Market Superintendence – SMV that has within its functions and faculties, the supervision of compliance with the norms applicable to issuing companies with values registered in the RPMV, evaluating indications of possible infractions, and sends, for consideration, the respective indication reports, to the IGCC—, sent to the IGCC, the result of its evaluation, and specifically what refers to the present case;
19. 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 an indication report of infringement, determine that its pronouncement or opinion on a specific topic of supervision—which can even contain a decision, for example, the adoption of corrective measures—, is an opinion on the merits of the matter;
it must be clarified that said opinion and the indication report of infringement of the IGSC is not binding for the IGCC, as established in the second paragraph of article 9 of the Sanctions Regulation 2 3 ;
20. 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 emission of the present resolution, two (2) other organs or administrative instances of the SMV, functionally independent from each other and from this Office; first the IGSC that at its time 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, to emit

2 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 entity; 2) Recommendation of improvements or corrections of the activity developed by the administered entity; 3) The warning of the existence of non-compliances not susceptible of meriting the determination of administrative responsibilities; 4) The recommendation of the initiation of a procedure in order to determine the administrative responsibilities that correspond; 5) The adoption of corrective measures and 6) Other forms as established by special laws. 3 «Article 9.- Preliminary inquiries as a consequence of supervision actions (...) When said organs conclude that there are sufficient indications of possible administrative infractions they send the corresponding reports to the General Offices of Compliance, which determine if it corresponds to initiate or not an administrative sanctioning procedure. If the case arises, the General Offices of Compliance may carry out additional inspections or investigations of the reported indications. In the case of possible infractions in the scope of the Regulation of the Participatory Financial Financing Activity and its Managing Societies, the preliminary inquiries are carried out by the General Office of Investigation and Innovation, dependency that if there are sufficient indications of possible administrative infractions will determine if it corresponds to initiate or not an administrative sanctioning procedure. (...).»

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 6 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml pronouncement containing its decision regarding the charges mentioned, it being precise to indicate that by the nature of the same, as has been stated previously, it will be a decision of single administrative instance for the charge on late communication of important facts;
21. That, as mentioned previously,
through writing of March 24, 2025, the Issuer presented its defenses regarding the charge formulated against it, stating that it recognized the infringement imputed and requested to evaluate the non-imposition of any sanction; or, in case it corresponds to apply a sanctioning measure, that this be limited to a reprimand;
22. That, regarding this, having the Issuer presented
its defenses within the term granted for the presentation of defenses, it corresponds to indicate that the voluntary declaration of recognition of the infringement by the Issuer is reputed as a condition of mitigating responsibility, so that when the applicable sanction is a fine, this is reduced by fifty percent (50%) if the recognition is presented within the term granted to present defenses, according to section 1 of literal a) of article 26 of the Sanctions Regulation, concordant with literal a) of section 2 of article 257 of the TUO of the LPAG, which will be considered at the moment of the determination of the sanction;
23. That, the Issuer reiterates its arguments in its
allegations presented which have the object that it is not sanctioned for the conduct committed. Regarding this, as verified in the present PAS the Issuer presented belatedly the important fact referred to in the risk classification report issued by Moody's Local PE Risk Classifier S.A., regarding the "First Subordinated Bonds Program", with Committee date of September 26, 2024, which should have been communicated on the same day; however, it was communicated on September 27, 2024. Such committed offense was recognized by the Issuer in its defenses and reiterated in its allegations;
24. That, consequently, the conduct constitutive of the
offense subject to charge is accredited and the administrative responsibility of the Issuer is determined, by reason of which, it corresponds to analyze the proposal of sanction in attention to what is disposed by the principle of reasonableness, the defenses and the sanction criteria, which will be evaluated in the subsection of determination of the sanction;
V. DETERMINATION OF THE SANCTION
25. That, for purposes of determining the possible sanction, the
offense on late communication of important facts, it must be stated that according to what is disposed in item 3.1 of section 3 of Annex I of the Sanctions Regulation, it is disposed that it constitutes a minor offense:
“Submit outside the established deadline, or do so incompletely, or, without observing the technical specifications approved by the SMV or without communicating the approval by the corresponding corporate body, to the SMV, to the Stock Exchange, to the entity in charge of the centralized trading mechanism or to any other entity or subject of the securities market, the individual or consolidated audited financial information, the individual or consolidated interim financial statements

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy"

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" 7 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml consolidated, management report, special audit report, material facts, and annual reports.” (Highlighting and underlining added);
26. That, in accordance with what is established in article 35 of the Sanctions Regulation, these infractions must be sanctioned with a warning or a fine not less than one (1) UIT and up to the limit of twenty-five (25) UIT.

5.1 Sanction Criteria
27. That, having determined the commission of the imputed infraction, it corresponds to evaluate the sanction in accordance with article 25 of the Sanctions Regulation, concordant with numeral 3) of article 248 of the TUO of the LPAG and article 344 of the TUO of the LMV, which develop the criteria for sanction graduation: (i) the issuer's sanction history, (ii) recidivism, (iii) the circumstances of the commission of the infraction, (iv) the economic damage caused and its repercussion on the market, (v) the illicit benefit resulting from the commission of the infraction, (vi) the probability of detection of the infraction, (vii) the severity of the damage to the public interest and/or protected legal good, and (viii) the existence or non-existence of intent in the infringer's conduct;
28. That, for the purpose of determining the sanction to be imposed on the Issuer for the non-compliance referred to the late communication of material facts, the Criteria applicable to the administrative sanctioning procedure for non-compliance with the norms that regulate the submission of periodic or occasional information must be taken into account; the Gradual Sanctions Regime for late submission of financial information, annual report, and material facts (hereinafter, Gradual Sanctions Regime), approved by SMV Resolution No. 007-2023-SMV/01 must be taken into account;
29. That, with regard to the severity of the damage to the public interest and/or protected legal good, it must be indicated that the timely submission of periodic or occasional information by issuers of securities registered in the RPMV constitutes a fundamental obligation in the transparency of the securities market, so that market participants can make their investment decisions adequately informed. Consequently, although no severity of damage to the public interest is evidenced, the non-compliance with the obligation to inform the market within the deadline limits by the issuers affects market transparency, which is considered a protected legal good;
30. That, with regard to sanction history, the Gradual Sanctions Regime states that “The resulting amount from the application of the guidelines contemplated in numeral 6.2 may be increased up to five percent (5%) if it is proven that the infringing subject has sanction history”, without making distinction as to whether they correspond to different or the same type of infraction. Therefore, in order to determine which rule is more beneficial, it is considered that the application of the new regulation will increase by one percent (1%) for each sanction resolution that constitutes the antecedent up to a maximum of five percent (5%). On this matter, from the verification carried out in the SMV Sanctions System, it has been determined that the Issuer does not have sanction history, as evaluated in the Report;

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" 8 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml
31. That, with regard to recidivism for the commission of the same infraction, the Gradual Sanctions Regime states: “The resulting amount from the application of the guidelines contemplated in numeral 6.2 may be increased (…) up to ten percent (10%) if it is verified that the infringing subject is a recidivist”; in this sense, it is considered that it will increase by five percent (5%) when the Issuer has one (01) sanction resolution granting recidivism or ten percent (10%) when it has two (02) or more sanction resolutions granting recidivism. Regarding this, it has been verified that there is no recidivism on the part of the Issuer, according to what was evaluated in the Report;
32. That, with regard to the circumstances of the commission of the infraction, it must be noted that, from the verification of the information disseminated by the issuers on the SMV Institutional Page, it is evident that the late communication of the material fact referred to the risk classification report issued by Moody's Local PE Clasificadora de Riesgo S.A., regarding the “First Subordinated Bonds Program”, with a Committee date of September 26, 2024, which should have been communicated on the same day; however, it was communicated on September 27, 2024 (with a (01) calendar day delay).
33. That, with regard to the economic damage caused and its repercussion on the market, we must point out that there is indeed a damage that affects the market because by not disseminating relevant information such as material facts in a timely manner, there is an impact on the transparency of the securities market, which is considered a protected legal good;
34. That, with regard to the illicit benefit resulting from the commission of the infraction, it must be noted that there are not sufficient elements to indicate that the Issuer, as a consequence of the infractions committed, has obtained or generated an illicit benefit;
35. That, with regard to the probability of detection of the infraction, it must be noted that the failure to submit periodic or occasional information in a timely manner; is verified through internal control systems, so it is considered that for this type of non-compliance, the probability of detection is high;
36. That, with regard to the existence or non-existence of intent in the infringer'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 intent, it can be affirmed that the Issuer's conduct was negligent, as it did not act with the diligence required for obligations already known by the Issuer;

Regarding the application of a warning sanction
37. That, with regard to the communication of material facts, numeral 6.1 of the Gradual Sanctions Regime states that a warning sanction may be applied when the following occur simultaneously: (i) when the impact on market transparency is minimal; (ii) the infraction committed has not caused concrete damage to investors or associates; (iii) the infringing subject does not have history or, if it does, they are sanctions corresponding to minor infractions imposed by the SMV that had become final in the four (4) years prior to the commission of the infraction being evaluated; (iv) the infringing subject is not a recidivist; (v) the infringer has not obtained benefits from their administrative infraction; and, (vi) it has not been proven that the infringer acted with intent in the commission of the infraction;
38. That, as detailed in the evaluation of the sanction criteria, it can be noted that: (i) the impact on market transparency was minimal; (ii) the infraction committed has not caused concrete damage to investors or associates, since no type of complaint or receipt of indication regarding this has been registered; (iii) the Issuer does not have infraction history; (iv) the infringing subject has not obtained a benefit from their illegal conduct; and (v) it has not been proven that the infringer acted with intent in the commission of the infraction;
39. That, therefore, having concurrently fulfilled what is stated in numeral 6.1 of the Gradual Sanctions Regime and the evaluation carried out by this Adjunct Superintendency, it corresponds to impose on the Issuer one (01) warning for the non-compliance subject to charge;

Regarding the acknowledgment of responsibility
40. That, regarding this, the Issuer through a written submission of defenses dated March 24, 2025, expressly acknowledged responsibility for the charge formulated in the present PAS;
41. That, in accordance with the sanction criteria stated, it is determined the application of a warning sanction, therefore, as no fine sanction is determined, it lacks object to apply the fifty percent (50%) discount established in numeral 1 of literal a) of article 26 of the Sanctions Regulation, which regulates the acknowledgment as a mitigating factor for sanction, so one (01) warning is imposed on the Issuer, and;

Being in accordance with what is disposed in numerales 14 and 36 of
article 43 of the Regulation of Organization and Functions of the Superintendencia del Mercado de Valores – SMV, approved by Supreme Decree No. 216-2011-EF;

RESOLVES:
Article 1º.- Declare that BANCO DE LA NACIÓN,
has incurred one (01) infraction of a minor nature typified in numeral 3, paragraph 3.1 of Annex I of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, for the late communication of material facts of the material fact referred to the risk classification report issued by Moody's Local PE Clasificadora de Riesgo S.A., regarding the “First Program of Subordinated Bonds”, with a Committee date of September 26, 2024, which should have been communicated on the same day.
Article 2º.- Sanction BANCO DE LA NACIÓN,
with one (01) warning pursuant to article 1° of this Resolution.

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" 10 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 of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml
Article 3º.- This Resolution does not exhaust the administrative
path, this being able to be challenged before this Adjunct Superintendency of Market Conduct Supervision by filing the reconsideration appeal, administrative appeal recognized in article 218 of the Single Text of the General Administrative Procedure Law No. 27444, approved by Supreme Decree No. 004-2019-JUS, within the term of fifteen (15) business days counted from the day following its notification, as it is a procedure of a single administrative instance.
Article 4º.- In case this Resolution is not
subject to challenge, it must be published on the “SMV Institutional Page on the Unified Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv)”, in observance of what is disposed by numeral 1 of article 7 of the “Policy on dissemination of normative projects, general legal norms, early agenda and other administrative acts of the SMV”, approved by SMV Resolution No. 014-2014-SMV/01, and by what is disposed in the last paragraph of article 14 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01.
Article 5º.- Transcribe this Resolution to
BANCO DE LA NACIÓN.
Register, communicate and publish.
Carlos Rivero Zevallos
Adjunct Superintendent
Adjunct Superintendency of Market Conduct Supervision