Assistant Superintendent of Prudential Supervision Resolution No. 052-2025-SMV/10

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship Assistant Superintendent of Prudential Supervision Resolution No. 052-2025-SMV/10 Lima, October 17, 2025 Subject: The administrative sanctioning procedure against Fondos Sura SAF S.A.C. is declared archived for not having committed one (1) serious infringement, referred to the attention of a complaint, typified in Annex VII, item 2, subsection 2.9 of the Sanctions Regulation. Administered by: Fondos Sura SAF S.A.C. Subject: Administrative sanctioning procedure File No.: 2025005221 The Assistant Superintendent of Prudential Supervision SEEN:
The administrative file No. 2025005221, and the Report No. 1234-2025-SMV/10.3, issued by the General Superintendent of Prudential Compliance; as well as the defenses presented; and, CONSIDERING:

1. Pursuant to Article 1 of Law No. 29782, Law for the
   Strengthening of the Supervision of the Securities Market, the name of the National Commission for the Supervision of Companies and Securities (CONASEV) is replaced by that of the Securities Market Superintendence (SMV), so that any reference to CONASEV in legal norms shall be understood as referring to the SMV;
   I. FACTS
2. On September 19, 2023 at 08:00 hours, the
   COMPLAINANT1 sent an email to Fondos Sura SAF S.A.C. (hereinafter, SURA SAF) requesting, among other things, additional information regarding the Sura Latin American Loans Investment Fund (hereinafter, FUND) of which it is a participant. On October 17 and 30, 2023, respectively, the COMPLAINANT reiterated the attention, among other things, of the complaint presented via the aforementioned email, so that on November 3, 2023, SURA SAF provided the COMPLAINANT with the information required through its complaint;
3. By Office No. 5748-2024-SMV/10.3, notified on December 18,
   2024 (hereinafter, OFFICE), SURA SAF was required to present the

1
In the attachment to this resolution, the complete data of the natural persons to whom the denominations used in this resolution belong are detailed, and likewise, if applicable, the email addresses. Digitally Signed by:
GUTIERREZ
OCHOA Omar
Dario FAU
20131016396 soft
Date: 17/10/2025
11:03:21

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship response and receipt of the complaint presented by the COMPLAINANT via email of September 19, 2023, so that by letter dated December 20, 2024, SURA SAF responded to the requirement made;
4. With Office No. 738-2025-SMV/10.3, notified on February 10,
2025 (hereinafter, OFFICE OF CHARGES), an administrative sanctioning procedure was initiated against SURA SAF, granting it a period of seven (7) business days, counted from the day following the date of notification for it to formulate the corresponding defenses;
5. On February 17, 2025, SURA SAF requested an
extension for the presentation of its defenses; which was granted by Office No. 922- 2025-SMV/10.3, notified on February 18, 2025;
6. With a letter presented on February 27, 2025,
SURA SAF presented the defenses to the charges formulated via the OFFICE OF CHARGES;
7. The charge formulated as well as the defenses
presented by SURA SAF have been the subject of evaluation by the General Superintendent of Prudential Compliance in Report No. 1234-2025-SMV/10.3, which has been submitted to the knowledge of this Assistant Superintendence;
8. In observance of the Principle of Due
Process contemplated in Article IV, item 1, subsection 1.2 of the Preliminary Title, as well as in
Article 248°, subsection 2, of the Single Consolidated Text of Law
No. 27444, General Administrative Procedure Law, approved by Supreme Decree No. 004-2019-JUS (hereinafter, TUO LPAG), via Office No. 4805-2025- SMV/10, the administrative file to which this resolution refers was made available to SURA SAF for its review;
II. MATTERS TO BE DETERMINED
9. In the present administrative procedure, at
the discretion of this Assistant Superintendence, it corresponds to determine the following:
a. Whether SURA SAF committed or did not commit an infringement provided for in Annex VII, item 2, subsection 2.9 of the Sanctions Regulation, approved by SMV Resolution No. 035- 2018-SMV/01 (hereinafter, SANCTIONS REGULATION), for not complying with what is established in Article 39 of the Participation Regulation of the FUND, in concordance with Article 3 of the "Norms applicable to complaints and claims against entities supervised by the Securities Market Superintendence

• SMV" approved by SMV Resolution No. 006-2012-SMV-01 (hereinafter,
  NORMS), for not complying with the legal deadline established to provide the COMPLAINANT, a response to the complaint presented on September 19, 2022; b. Whether it corresponds or not to impose a sanction on SURA SAF;
  III. ANALYSIS
  CHARGE: NOT TO COMPLY WITH THE OBLIGATIONS THAT CORRESPOND TO IT IN ACCORDANCE WITH WHAT IS ESTABLISHED IN THE PARTICIPATION REGULATION OF THE FUND: ATTENTION TO COMPLAINTS AND/OR INQUIRIES OF PARTICIPANTS OF THE APPLICABLE NORMATIVE

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship
10. Article 4 of the Law of Investment Funds and their
administrating companies, approved by Legislative Decree No. 862, establishes:
"Article 4.- The functioning and operations of each Fund shall be subject to this law, the regulations on the matter, its participation regulation and the contract signed with the participant.;
11. Regarding this, Article 49 of the Participation Regulation of the FUND, in force from May 02, 20232
(hereinafter, RDP) provides:
"Article 49.- COMPLAINTS AGAINST THE ADMINISTERING COMPANY Any inquiry or complaint may be processed through any of the customer service channels of the Administering Company. These channels will be used by the Administering Company with the aim of providing a solution to the inquiries or complaints presented by the Participant. The Administrator will have a period not exceeding thirty (30) days from receipt of the inquiry or complaint, to provide a response. However, when the nature of the inquiry or complaint justifies it, this period may be extended by another equal one. In such case, the Participant will be informed of this situation before the expiration of the initial period. All complaints raised by Participants must be presented with the supporting documentation of the case. The response will be issued in writing. The Administering Company will be responsible for solving the problems or inconveniences that occur with the Participants of the Fund both in Lima and in Provinces, and that cannot be resolved directly by the agency officials. The filing of a complaint as stated above does not constitute a prior route nor implies any limitation for the Participant to use other dispute resolution mechanisms or to file the corresponding administrative complaints. Additionally to what is indicated in the previous paragraph, in case that the Participant holds the condition of final consumer, as established in SMV Resolution No. 006- 2012-SMV/01, and considers himself affected by the possible non-observance of consumer protection norms by the Administering Company, he may file a complaint with the National Institute for the Defense of Competition and of the Protection of Intellectual Property (INDECOPI), for the purpose that said entity may act within its scope of competence. In the same way as previously established, the Participant may also present his claim to the SMV, if applicable. Without prejudice to what is stated above, anyone who considers himself affected by the conduct of persons under the competence of the SMV, may resort to the corresponding judicial or arbitral route."
12. In concordance with the above, Article 3 of the
NORMS states:
"Article 3.- Attention of complaints by legal persons authorized by the SMV Without prejudice to the compliance with the norms that determine the direct attention of complaints that final consumers may formulate and the obligation to have a Book of Complaints, within the framework of what is provided by Articles 24 and 150 of the Code of Protection and Defense of the Consumer, Law No. 29571, the legal persons to which the SMV has granted authorization of operation are obliged to directly attend any complaint by their clients regarding the services they provide, within a maximum period of thirty (30) calendar days from the date of presentation of the respective complaint. This period may be extended by another equal one when the nature of the complaint justifies it, situation that is brought to the knowledge of the claimant before the expiration of the initial period. If the claimant requires it, the response must be made in writing.

2
SURA SAF requested the update of the Participation Regulation of the FUND, via exp. 2023025475.

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship The filing of a complaint in accordance with this provision does not constitute a prior route nor implies any limitation for clients to use other dispute resolution mechanisms or to file the corresponding administrative complaints." OF THE FACTS OCCURRED
13. In its letters of October 183
and 314 and November 20, 20235
, the COMPLAINANT states, among other things, that the complaint of September 19, 2023 was pending attention;
14. Regarding this matter, there is in the file a copy of
an email dated September 19, 2023 at 08:00 hours, through which the COMPLAINANT presented a complaint (to the email address atencionalcliente.fondos@sura.pe), requesting, among other things, additional information regarding the FUND: a table of the evolution of the net assets of the FUND respecting the dates of the table provided by SURA SAF on September 5, 2023 and the number of participants of the FUND considering the same dates of the preceding table "Lima September 19, 2023 Gentlemen:
Fondos SURA SAF S.A.C.
Av. Enrique Canaval y Moreyra No. 352
San Isidro, Lima.
Present
Attention Gentlemen: José Luis Cordano, General Manager SURA Antonio Cevallos Barriga, General Manager of SURA SAF Funds Bruno Vinatea Cavero, Senior Associate Sura Direct Complaint: SURA Latin American Loans Investment Fund (FISPL). Dear Gentlemen:
First, thank you for the response to complaint No. 44729242-1 of August 10, 2023, it is worth clarifying that I have not had the pleasure of meeting with the General Manager of SURA as indicated in the letter, I did have a brief meeting with Mr. Antonio Cevallos, who in summary informed me that the investment actions of the FISPL were carried out in accordance with the participation regulation. The present is to request additional information to the received:
1) Table of the Evolution of the Net Assets of the FISPL respecting the dates of the following
table provided by SURA.

3 "Dear Gentlemen:
Good morning, I will appreciate adding to the file in question the present letter and attached email of 7 pages of October 17 of the present year, in which I requested in a reiterated manner the receipt of the last complaint. As well as the pending information of attention. It is important to clarify that the information required from SURA corresponds to the following complaints:
(...)
C) Additionally, on September 19 I requested the following information:
1) Table of the Evolution of the Net Assets of the FISPL and
2) Number of participants of the FISPL, information requested on September 19
pending attention.
Thank you for your attention."
4
To date SURA maintains pending attention complaints for information on the FISPL with more than 30 business days following:
(...)
B) Complaint for information received by SURA on September 19 and registered as a letter on the same September 19 (see attached emails), in which the following information is requested:
1) Table of the Evolution of the Net Assets of the FISPL and
2) Number of participants of the FISPL, throughout the life of the FISPL."
5 "(...)
The present letter has three (3) objectives:
(...)
III. Inform that SURA does not respond to date the repeated requests for information on the fund detailed in (...) and
complaint of September 19 and registered as a letter on the same September 19 both complaints included in the letter of October 31. Information with which points of the present complaint are reinforced."

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship Attached is the requested detail, unfortunately it is internal information of the investment team that cannot be shared in excel. (...)
2) Number of participants of the FISPL considering the same dates of the preceding table.
(...)
I thank you in advance for your attention.
Without further particular at the moment,
Sincerely,";
15. It should be added that, via email of
October 16 and 17, 2023, the COMPLAINANT, among other things, reiterated the attention of the complaint regarding the additional information requested via the aforementioned email of September 19, 2023; Email of October 16, 2023 "Lima October 16, 2023 Gentlemen:
Fondos SURA SAF S.A.C
Av. Enrique Canaval y Moreyra No. 352
San Isidro, Lima.
Present_
Attention Gentlemen: José Luis Cordano, General Manager SURA Antonio Cevallos Barriga, General Manager of SURA SAF Funds Bruno Vinatea Cavero, Senior Associate Sura Direct Complaint: SURA Latin American Loans Investment Fund (FISPL). Dear Gentlemen:
The present is to request the following points:
(...)
C) Additionally, I requested the following information: 1) Table of the Evolution of the Net Assets of the FISPL and 2) Number of participants of the FISPL, information requested on September 19 pending attention:
The present is to request additional information to the received:
1) Table of the Evolution of the Net Assets of the FISPL respecting the dates
of the following table provided by SURA.
2) Number of participants of the FISPL considering the same dates of the preceding
table.
Thank you for your attention.
Without further particular at the moment,
Sincerely,

---

(...)
Email: (...)
DNI: (...)";
Email of October 17, 2023
"Lima October 16, 2023
Gentlemen:
Fondos SURA SAF S.A.C
Av. Enrique Canaval y Moreyra No. 352
San Isidro, Lima.
Present_
Attention Gentlemen: José Luis Cordano, General Manager SURA Antonio Cevallos Barriga, General Manager of SURA SAF Funds Bruno Vinatea Cavero, Senior Associate Sura Direct Subject: I reiterate the unattended complaint of the FISPL. Dear Gentlemen, Yesterday, October 16, I sent via this medium the preceding email claiming that to date I have not received a response to the following complaints:
(...)
C) Additionally, I requested on September 19 the following information:
1) Table of the Evolution of the Net Assets of the FISPL and
2) Number of participants of the FISPL, information requested on September 19
pending attention:
I await confirmation of receipt of the complaint, of its prompt and kind attention.
Best regards,
(...)
Cc. (...)";
16. Subsequently, in his letter of November 20,
2023, the COMPLAINANT stated that to the date of presentation of the letter, SURA SAF has not complied with responding to his requirements (among which he considers the complaint of September 19, 2023);
17. In addition to the above, there is in the file a copy
of an email dated October 30, 2023 through which the COMPLAINANT reiterates, once again, the attention to, among other things, his complaint of September 19, 2023:
"Lima October 30, 2023
Gentlemen:
Fondos SURA SAF S.A.C.
Av. Enrique Canaval y Moreyra No. 352
San Isidro, Lima.
Present_
Attention Gentlemen: José Luis Cordano, General Manager SURA Antonio Cevallos Barriga, General Manager of SURA SAF Funds Rosa Gil Senior Advisor of Services SURA Funds Complaint: I reiterate the unattended complaint for request for information of the FISPL. Dear Gentlemen, Good morning, I will appreciate attending the repeated complaints for requests for information pending attention:
(...)
B) Complaint for information, was received by SURA on September 19 and registered as a letter on the same September 19 (see preceding email) to date pending attention:
1) Table of the Evolution of the Net Assets of the FISPL and
2) Number of participants of the FISPL, throughout the life of the FISPL.
I await confirmation of receipt of the complaint, of its prompt and kind attention.
Best regards,
(...)
Cc. (...)". (Emphasis added to the email);
18. Regarding this matter, in accordance with Article 49 of the
RDP, in concordance with Article 3 of the NORMS, in force at the time of the facts occurred, any inquiry or complaint must be attended by the administering company, within a period not exceeding thirty (30) calendar days from receipt of the inquiry or complaint. Without prejudice to that, in attention to the nature of the inquiry or when the complaint justifies it, this period may be extended by another equal one, in such case the participant must be informed about this situation before the expiration of the initial period;

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship
19. In that sense, the complaint presented on September 19
2023 by the COMPLAINANT had to be attended by SURA SAF at the latest on October 19, 2023, unless, before the expiration of said period, SURA SAF had communicated to the participant about any extension of the initial period;
20. Nevertheless, from the review of the documentation
in the file, it is observed that from the receipt of the complaint made via email of September 19, 2023, and despite the reiterative emails sent by the COMPLAINANT, it is observed that on October 19, 2023, SURA SAF had not complied with attending said complaint. It should be added that neither is there in the file any communication, from the administering company, informing about any extension of the period to attend the complaint of the COMPLAINANT;
21. In attention to the above, via the OFFICE
it was required to present the response (and receipt of the same) that was given to the complainant in attention to his complaint sent via email of September 19, 2023, through which he requested additional information regarding the FUND
22. In attention to the above, SURA SAF presented, among
other things, a copy of an email sent by a senior customer service advisor of SURA SAF, to the COMPLAINANT through which he provided the table of evolution of the net assets of the FUND and the number of participants throughout the life of the FUND:
"Lima November 03, 2023
Dear sir (...),
Receive our cordial greeting. Wishing the best for you and your family.
Attached we send the response to the complaint of yesterday # 44729242-5.
Regarding what is indicated:
1) Table of the Evolution of the Net Assets of the FISPL
2) Number of participants of the FISPL, throughout the life of the FISPL.
(...)
SENIOR CUSTOMER SERVICE ADVISOR SURA INVESTMENTS (...)";
23. In accordance with what is exposed, it is noted that SURA SAF
would have attended the complaint presented on September 19, 2024 by the COMPLAINANT, on November 03, 2024, that is, more than thirty (30) calendar days after the expiration of the period established by the regulation; OF THE CHARGE ATTRIBUTED
24. Consequently, SURA SAF would not have complied
with observing what is provided by Article 49 of the RDP, in concordance with Article 3 of the NORMS, that is, said administering company would not have complied with the period legally established to provide a response to the complaint presented on September 19, 2024, filed by the COMPLAINANT;
25. Therefore, it was imputed to SURA SAF that it would have
committed the infringement classified as serious typified in subsection 2.9, item 2, of
Annex VII of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-
SMV/01 (hereinafter, SANCTIONS REGULATION) which establishes as an infringement of a serious nature: "Not to comply with the obligations and functions that correspond to it in accordance with what is established in the participation regulation of the fund, or simplified prospectus of the fund or in the contracts that on behalf of the fund are celebrated with the participants and with third parties or that are established in the normative";

PERU Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría

OF THE DEFENSES SUBMITTED

26. In response to the charges imputed via the CHARGES OFFICE, SURA SAF states that Article 3 of the NORMS and Article 49 of the RDP only regulate scenarios of complaints or inquiries, but do not refer to the deadline for attending to or delivering information and/or documentation requests;

27. In this sense, it considers it relevant to identify and distinguish between the concepts of complaint, inquiry, and request in order to determine whether the aforementioned norms apply;

28. Regarding this, the administrator company specifies that the NORMS do not contain a definition of complaint; nevertheless, SURA SAF refers to two norms: the Regulation of the Complaints Book of the Consumer Protection and Defense Code, approved by Supreme Decree 011-2011-PCM and its amendments; and the Regulation for the Management of Complaints and Requirements approved by SBS Resolution 04036-2022 and its amendments, in order to apply normative analogy as an interpretation technique regarding the definitions of complaint, inquiry, and request:

“(

TERM
COMPLAINT
REGULATION OF THE COMPLAINTS BOOK
REGULATION OF COMPLAINT MANAGEMENT

Complaint
Manifestation that a consumer makes to the provider through a Complaint Sheet of the Complaints Book, through which they express a disagreement related to the goods distributed or supplied or to the services provided. The complaint does not constitute a denunciation and consequently, does not initiate an administrative sanctioning procedure for infringement of the consumer protection regulations.

Complaints are communications presented by users or third parties on behalf of users, related only to the products and services contracted, or with the operations associated with these, in which they express their dissatisfaction with the operation, product or service received or with the non-compliance with the obligations contemplated in the contracts or in the current regulatory framework, or manifesting the alleged affectation of their legitimate interest.

Inquiry
DOES NOT CONTAIN
Communications by which the company is sought to provide specific information in a situation of uncertainty, ignorance or doubt related to the operation, product or service offered or contracted with the company

Request
DOES NOT CONTAIN
Communications by which the delivery or making available of information and/or documentation that the company possesses regarding the relationship it maintains or maintained with users is sought

(
)”;

29. From what is stated in the table above, SURA SAF concludes that the concept of complaint necessarily implies the manifestation of disagreement or dissatisfaction with the service or product provided by the supervised companies; the concept of inquiry necessarily implies that there is a situation of uncertainty, ignorance or doubt about the product; and that the concept of request implies that the client requires the delivery or making available of information that the supervised company possesses about the product;

30. Based on the above, the administrator company alleges that in the email dated September 19, 2023, the COMPLAINANT does not reflect a manifestation of disagreement and dissatisfaction, so it points out that said communication does not qualify as a complaint; and that it also does not imply a situation of ignorance or doubt that SURA SAF could have answered without having to deploy documentary preparation effort, so SURA SAF considers that it does not qualify as an inquiry. However, the administrator company refers that said email qualifies as a request, insofar as the COMPLAINANT requests that information related to the product be prepared and delivered to them;

31. In this sense, SURA SAF concludes that in the present case, Article 49 of the RDP and Article 3 of the NORMS are not applicable or enforceable, since, according to the administrator company, the communication of the COMPLAINANT has a nature different from a complaint or inquiry. Consequently, SURA SAF points out that there was no legal and normative deadline to attend to the email dated September 19, 2023;

32. In addition to the above, the administrator company highlights that a different interpretation from the proposed one would violate the principle of typicity contemplated in Article 248 of the Unified Text of the General Administrative Procedure Law No. 27444, approved by Supreme Decree No. 004-2019-JUS (hereinafter, TUO LPAG), which requires that sanctions be imposed only for scenarios contemplated in laws with the rank of law and the express prohibition of performing extensive interpretation or analogy. In this sense, according to SURA SAF, if the NORMS and the RDP do not regulate the treatment of requests, it is not possible to substantiate the existence of a deadline for attending to them;

33. On the other hand, SURA SAF adds that the COMPLAINANT’s email dated September 19, 2023, was attended to on the same day and on November 3, 2023. Regarding this, it specifies that of the three requests made6, the third was attended to on the same day, September 19, 2023, confirming the client’s room reservation for their visit, and also informing them that work was being done on the rest of the requests. Regarding this, SURA SAF cites an email sent to the COMPLAINANT on September 19, 2023, at 18:05 hours, in which the aforementioned information was indicated;

34. SURA SAF points out that the first two requests were attended to through an email dated November 3, 2023, in which a table showing the evolution of Net Equity and the number of participants of the FUND was attached, which is recorded in the CHARGES OFFICE and in the file;

35. Likewise, the administrator company specifies that it attended to the initial complaint of the inquiry (submitted on July 17, 2023 and registered as Complaint No. 44727942-1 in its systems) through a letter addressed to the COMPLAINANT on August 10, 2023, in which all their requirements and questions were attended to, according to SURA SAF;

36. On this matter, SURA SAF points out that the additional request sent by the COMPLAINANT on September 19, 2023, was given within the framework of a continuation chain of Complaint No. 44729242-1, as indicated in the email. Nevertheless, the administrator company reiterates that the rules of the Regulation of the Complaints Book of the Consumer Protection and Defense Code or the Regulation for the Management of Complaints and Requirements approved by SBS Resolution 04036-2022 do not apply to them, as it does not coincide with the definition of complaint;

37. Therefore, the administrator company alleges that it is important to differentiate that Complaint No. 44729242-1 was considered as such in attention to the definition of complaint of the Regulation of the Complaints Book of the Consumer Protection and Defense Code, while the closest classification that the email of September 19, 2023, could receive is that of an additional request to Complaint No. 44729242-1, as suggested by the communication itself “this is to request additional information to that received”;

38. Finally, SURA SAF requests that it be taken into consideration that the COMPLAINANT presented more than ten communications over the course of six months, which, according to the administrator company, evidences a manifest intention to disturb them, rather than presenting transparent complaints or requests, which they consider borders on the abusive exercise of their rights as an investor;

EVALUATION OF DEFENSES

39. Regarding this matter, it must be indicated that from the review of the defenses and documentation presented by SURA SAF, it is appropriate to cite facts prior to the facts imputed as charges that will allow clarifying the existence or non-existence of a possible infringement by SURA SAF;

40. Regarding this, it is observed that on July 17, 2023, the COMPLAINANT presented a complaint to SURA SAF (assigned with No. 44729242-1) regarding the functioning and results of the FUND, which was attended to by SURA SAF through a letter sent by email to the COMPLAINANT on August 10, 2023;

41. Subsequently, on August 18, 2023, the COMPLAINANT presented a second complaint to SURA SAF as a consequence of the response received on August 10, 2023 (Complaint No. 44729242-2). In said communication, the COMPLAINANT requested, among other things, a table showing the investments and monthly movements in the thirteen (13) debtors of the FUND;

42. The aforementioned complaint was responded to by SURA SAF through a letter sent by email to the COMPLAINANT on September 5, 2023, through which, among other things, the administrator company provided the COMPLAINANT with a table with the detailed investments regarding the issuers of the FUND;

43. Subsequently, it is observed that the COMPLAINANT, via email dated September 19, 2023, requested additional information from SURA SAF derived from the response received on September 5, 2023, which was classified by the COMPLAINANT themselves as a complaint;

44. It should be noted that in several of the writings subsequently presented7 before the SMV, the COMPLAINANT stated that said complaint had not been attended to in a timely manner, which motivated that through Office No. 5748-2024-SMV/10.3, Sura SAF was requested to send the response to the email of September 19, 2023, which was presented by letter dated December 20, 2024, and in which the response sent to the COMPLAINANT dated November 3, 2023, was attached, thereby evidencing a supposed delay in the response provided, which motivated the formulation of the charge under analysis;

45. Now, from the evaluation carried out in attention to the defenses presented, it is appreciated that the request contained in the email of September 19, 2023, originated from the response of September 5, 2023, that SURA SAF gave to Complaint No. 44729242-2;

46. Regarding this, it must be pointed out that, from the review of the email of October 17, 2023, on file, it is observed that the COMPLAINANT in that opportunity stated to the administrator company that, among other things, their complaint contained in the email of September 19, 2023, was pending attention;

47. In this sense, it is from the email of October 17, 2023, that its content qualifies as a complaint, since it is appreciated that the COMPLAINANT expressed their displeasure regarding the lack of response to their request for information according to the email of September 19, 2023;

48. With respect to the above, it should be noted that according to the cited Article 49 of the RDP, the administrator company has a deadline no greater than thirty (30) days from receiving the inquiry and/or complaint from the FUND participants to provide a response; without prejudice to the fact that, when the nature of the inquiry or complaint justifies it, said deadline may be extended by another equal one, in which case the participant must be informed about this situation before the end of the initial deadline;

49. In accordance with the cited article, Article 3 of the NORMS provides that, without prejudice to the compliance with the norms that determine the direct attention of complaints that final consumers may present and the obligation to have a Complaints Book, established in the Consumer Protection and Defense Code, whose supervision is the competence of the National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi), legal entities authorized by the SMV must attend to any complaint from their clients regarding the services they provide within a maximum deadline of thirty (30) calendar days from the receipt of the same, which may be extended by an equal deadline if applicable, prior communication to the complainant, before the expiration of the initial deadline;

50. According to the above, it is noted that the complaint presented by the COMPLAINANT on October 17, 2023, was attended to on November 3, 2023, that is, within the deadline established in Article 49 of the RDP, in accordance with Article 3 of the NORMS; therefore, it corresponds to archive the charge formulated in the present administrative sanctioning procedure regarding the lack of timely response to the email of September 19, 2023, sent by the COMPLAINANT to SURA SAF;

51. Being subject to what is provided by Article 32°, numeral 16, of the Regulation of Organization and Functions of the SMV, approved by Supreme Decree No. 216-2011-EF and its amendments;

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría

RESOLVES:

Article 1º.- Declare that Fondos Sura SAF S.A.C. has not incurred one (1) infringement classified as grave, typified in Annex VII, numeral 2, subsection 2.9 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, regarding the compliance with the legal deadline to attend to a complaint presented by a participant as provided in Article 49 of the Participation Regulation of the “Sura Latin American Loans Investment Fund”.

Article 2º.- This resolution does not exhaust the administrative route, unless it is consented, and may be challenged before the Superintendence Adjunct of Prudential Supervision by filing a reconsideration or appeal request before the same, within the deadline of fifteen (15) business days counted from the day following its notification.

Article 3º.- In the event that this resolution is not subject to challenge through a reconsideration or appeal request within the deadline of fifteen (15) business days of being notified and becomes final, it must be published on the SMV Institutional Website on the Unique Digital Platform of the Peruvian State, in observance of what is provided by numeral 1, Article 7º of the Policy on the diffusion of normative projects, laws of general character, early agenda and other administrative acts of the SMV, approved by SMV Resolution No. 014-2014-SMV/01 and its amendment, and by what is provided in Article 14° of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01.

Article 4º.- Transcribe this resolution to Fondos Sura SAF S.A.C.

Register, communicate and publish.

Omar Gutiérrez Ochoa
Superintendente Adjunto
Superintendencia Adjunta de Supervisión Prudencial

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“1) Requests table of the Evolution of Net Equity of the FISPL respecting the dates of the table provided by SURA in its attention to Complaint 44729242-1.
2) Requests number of participants of the FISPL considering the same dates of the aforementioned table.
3) Requests to visit SURA SAF offices on October 03, 2023.”

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría

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Writings presented by the COMPLAINANT on October 18 and 31, 2023; as well as on November 20, 2023.

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría