PERU Ministry of Economy and Finance
SMV
Superintendency of the Market in Securities

"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, 14 March 2024

CIRCULAR No. 090-2024-SMV/11.1

Gentlemen
Risk Rating Companies
Present.-

Ref.: File No. 2024010769

I address you in relation to the obligation that risk rating companies – ECR registered in the Public Registry of the Securities Market – RPMV have to submit their audited individual annual financial information, in accordance with the provisions of article 35, numeral 35.21, of the Regulation of Risk Rating Companies, approved by SMV Resolution No. 032-2015-SMV/01 and its amendments (hereinafter, ECR Regulation).

In this regard, within the framework of the preventive administrative activities carried out by the General Superintendency of Conduct Supervision – IGSC, you are reminded that article 34 of the ECR Regulation establishes that ECRs are obliged to submit to the SMV their financial information in accordance with the provisions of the Financial Information Regulation, approved by CONASEV Resolution No. 103-1999-EF/94.10 and amendments (hereinafter, Financial Information Regulation), and with the other applicable complementary rules.

In this sense, it must be indicated that article 37 of the Financial Information Regulation provides that the preparation and submission of financial statements is the responsibility of the Board of Directors and/or the management of the ECR, while the audit firm is responsible for the content of the audit report it issues, which is based on the audit work.

Likewise, it must be indicated that article 6 of the Rules on Preparation, Presentation and Dissemination of Financial Statements, Annual Report and Management Report applicable to entities supervised by the Superintendency of the Securities Market, approved by SMV Resolution No. 013-2023-SMV/01, establishes that the obligated subjects —among which ECRs are found— are responsible for the truthfulness and sufficiency of the information contained in the financial statements and for the timeliness of their presentation and dissemination, among others.

[1] «Article 35.- Submission of financial information The following applies to the financial information that the Rating Companies must submit to the SMV: (…) 35.2 Submit audited individual annual financial information (…)».

Av. Santa Cruz 315
Miraflores
Central : 610-6300 www.smv.gob.pe
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Finally, it must be noted that this circular does not require a response, since its nature is solely informative, preventive and referential, and therefore it does not exempt your represented entity from the responsibility it has to know, analyze and observe the securities market regulations and, consequently, to fully comply with the information submission obligations that are applicable to it, avoiding the responsibilities and administrative measures that may arise from its non-observance.

Without any other particular, I remain at your service.

Sincerely,

Signed by: GODOS GARCIA Alix Fernando Reason:

Alix Godos
General Superintendent
General Superintendency of Conduct Supervision