Miraflores, 08 January 2024

CIRCULAR No. 023-2024-SMV/11.1

Dear Sirs
Audit Firms
Present.-

Ref.: File No. 2024000643

I am writing to you in order to inform you of the minimum amounts in force 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.

Accordingly, the minimum amounts in force for the year 2024 are as follows:

Updated Minimum Amounts 2024

Minimum Amounts LMV and SASCM Competence Regulations Base	Legal	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
3 Share Capital of the Structuring Entity (Article 7, numeral 7.7, of the Regulation of Structuring Entities of the Securities Market, approved by Superintendent Resolution SMV No. 142-2014-SMV/02)	750,000	1,829,994

[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 for the month of January 1996 is considered as the base of said 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 within the framework of 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. di gitalsignature.gob.pe/web/validador.xhtml

4	Investment Portfolio in securities - Non-State Legal Entities (Annex 1, numeral 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, numeral 5, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	400,000 975,997
6	Equity of natural persons (Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	2,000,000 4,879,985
7	Investment portfolio in securities of natural persons (Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	1,000,000 2,439,993

[Fuente:] Source: Amounts indicated in the provisions of the cited regulations and IPM (approved by Chief Resolution No. 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 referred minimum amounts established in the regulations.

Without any other particular, I remain at your service.

Sincerely,
Alix Godos
General Intendant
General Intendancy of Conduct Supervision

Electronic document di digitally signed within the framework of Law No. 27269, Law of Di gital Signatures and Digital Certificates, its Regulations and amendments. The integrity of the document and the authorship of the( s) sig nature( s) can be verified at https://apps. fi rmaperu.gob.pe/web/validador.xhtml