PERÚ Ministerio de Economía y Finanzas
SMV
Superintendency of the Market de Valores

“Decade of Equal Opportunities for Women and Men” "Year of the Bicentennial, of the consolidation of our Independence, and of the commemoration of the heroic battles of Junín and Ayacucho"

Miraflores, 08 January 2024

CIRCULAR No. 014-2024-SMV/11.1

Gentlemen
Issuers of the General Regime
Issuers of the Alternative Market of Securities Present.-

Ref.: File No. 2024000555

I address you in your capacity as participants in the securities market, for the purpose of informing you of the current minimum amounts referred to in the Single Ordered Text of the Securities Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023- EF (hereinafter, TUO de la LMV) and in the various regulations approved by the Superintendency of the Securities Market – SMV, with respect to the Entities authorized and/or supervised by the Deputy Superintendency of Market Conduct Supervision – SASCM.

In this regard, it should be noted that although the minimum amounts indicated in the regulations are constant, they must be updated annually based on the Wholesale Price Index at the National Level (hereinafter, IPM), as provided by the First Final Provision of the LMV1; the IPM corresponding to the month of December 20232 must be taken into consideration for the year 2024.

In that sense, the minimum amounts in force for the year 2024 are as follows:

Updated Minimum Amounts 2024

Minimum Amounts LMV and SASCM Competence Regulations	Legal Basis	Updated Amounts 2024 (*)
1 Nominal value or lowest unit placement value - Private Offering (Article 5 of the LMV)	250,000	609,998
2 Share Capital and Net Equity of the Risk Rating Company (Article 272 of the LMV and article 20 of the Regulation of Risk Rating Companies, approved by SMV Resolution No. 032-2015-SMV/01)	400,000	975,997

[1] «First.- The sums referred to in this law are of constant value and are updated annually, at the close of each fiscal year, based on the Wholesale Price Index for Metropolitan Lima periodically published by the National Institute of Statistics and Informatics. The number reported for the month of January 1996 is considered as the base of the referred index». (Emphasis and underlining added)

[2] Published in the Official Gazette El Peruano on 31 December 2023. Web link: https://busquedas.elperuano.pe/dispositivo/NL/2249550-1

Electronic document di gitally signed under Law No. 27269, Law of Di gital Signatures and Certificates, its Regulation and amendments.
The integrity of the document and the authorship of the( s) si gnature( s) can be verified at https://apps. fi rmaperu.gob.pe/web/validador.xhtml

Electronic document di gitally signed under Law No. 27269, Law of Di gital Signatures and Certificates, its Regulation and amendments.
The integrity of the document and the authorship of the( s) si gnature( s) can be verified at https://apps. fi rmaperu.gob.pe/web/validador.xhtml

3	Capital Stock of the Structuring Entity (Article 7, item 7.7, of the Regulation of Structuring Entities of the Securities Market, approved by Superintendente SMV Resolution No. 142-2014-SMV/02)	750,000	1,829,994
4	Investment Portfolio in securities - Non-State Legal Entities (Annex 1, item 4, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	1,000,000	2,439,993
5	Fund or Individual Net Equity managed by Institutional Investors (Annex 1, item 5, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	400,000	975,997
6	Net worth of natural persons (Annex 1, item 6, of the Regulation of the Institutional Investor Market, approved by SMV Resolution No. 021-2013-SMV/01)	2,000,000	4,879,985
7	Securities investment portfolio of natural persons (Annex 1, item 6, of the Regulation of the Institutional Investor Market, approved by SMV Resolution No. 021-2013-SMV/01)	1,000,000	2,439,993

Source: Amounts indicated in the provisions of the cited regulations and IPM (approved by Resolución Jefatural N° 351-2023-INEI of 31 December 2023).

(*) The amounts for the year 2024 have been calculated by updating.

Finally, it should be noted that this Circular does not require a response from your represented entity, since its nature is merely informative; the information detailed above must be taken into consideration in the cases and/or administrative procedures in which your represented entity observes the aforementioned minimum amounts established in the regulations.

Without any other particular, I remain at your service.

Sincerely,

Alix Godos
Intendente General
General Superintendence of Conduct Supervision