Regulatory Alerts2026-01-21
Added · Updated
Circular No. 035-2026-SMV/11.1: Orientative Audit Guide on the Material Events Regime for Issuers: Relevance Criteria and Transparency Duties
The Peruvian Securities Market Superintendence (SMV) issues an orientative audit guide to clarify the legal obligations of issuers regarding the disclosure of material events under the Securities Market Law and the Material Events Regulation. The document mandates that issuers apply both quantitative and qualitative relevance tests to determine reportability, emphasizing that no fixed numerical thresholds exempt issuers from their duty to disclose information that could significantly influence investor decisions. It specifically requires immediate reporting of changes in financial results or equity, final sanctions, and judicial or arbitral proceedings, while clarifying that the regulatory list of material events is non-exhaustive and that confidentiality agreements do not override market transparency obligations.