Region

Jurisdiction

Regulator

2025-12-29

Added 2026-06-24 · Updated 2026-08-16

Circular No. 589-2025: Submission of Curricula Vitae for Appointed Directors by General Regime Issuers and Alternative Securities Market Issuers

The Superintendencia del Mercado de Valores requires issuers under the General Regime and Alternative Securities Market to apply and document due diligence measures to verify compliance with the obligation to submit directors' curricula vitae within ten business days of appointment and update them within three business days of any changes. Issuers that determine they have failed to meet these obligations must respond to the circular within ten business days, providing reasons and evidence of remedial measures, with the deadline expiring on January 13, 2026. Failure to address these requirements constitutes a sanctionable conduct under the Sanctions Regulation.

Peru

Superintendencia del Mercado de Valores (Peru)

PERU Ministry of Economy and Finance

"Article 5.- Issuers with programs and/or securities registered in the Public Registry of the Securities Market must submit the curriculum vitae of each of the appointed directors, a document that must contain information updated as of the date of appointment of the said director, at least regarding the following: (i) Their main activity or occupation, which is that which generates the largest part of their annual income; and, (ii) Their participation as a member in other boards of directors, including the name of the company for which they hold such position. Likewise, voluntarily, issuers may include information regarding the director's academic background and professional experience, as well as any other additional information they consider relevant for the market. The curriculum vitae of each of the appointed directors must be submitted within ten (10) business days following their appointment, observing the "Technical Specifications of the Registration and Supervision Information System - SIRYS", approved by the Superintendent of the Securities Market. Likewise, in the event that changes occur in the information contained in the directors' curricula vitae, the issuer must update such information within three (3) business days following knowledge of such changes, observing the aforementioned technical specifications."

1 The highlights and underlines are added. The highlights and underlines of the provisions and texts that are transcribed are also added.

PERU Ministry of Economy and Finance

SMV Securities Market Superintendence "Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" Av. Paseo de la Republica 3617 San Isidro Central: 610 - 6300 www.smv.gob.pe Page 2 of 3 Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml As you are aware, the curricula vitae of the aforementioned Directors, which have been submitted by a certain Issuer in compliance with the aforementioned obligation, are published and disseminated to the market, on the Institutional Page of the SMV in the Single Digital Platform of the Peruvian State for Citizen Orientation (https://www.gob.pe/smv). In this way, any person with internet access can see whether a certain Issuer has complied or not with the submission of the curricula vitae of all its Directors. Likewise, any person could see whether the curriculum vitae of the Director of an Issuer complies with the minimum content established in the cited regulatory provision or if it is updated or not. In that context, it is necessary to point out that considering the functions and competencies of the General Intendancy of Conduct Supervision, established in articles 45 and 46 numeral 172 of the Regulation of Organization and Functions of the Securities Market Superintendence - ROF, approved by Supreme Decree No. 216-2011-EF and its modifying norms; and, in line with what is provided in article 245 of the Single Text of the General Administrative Procedure Law No. 27444, approved by Supreme Decree No. 004-2019-JUS; it is necessary to require your represented entity to apply and document due diligence measures, which allow it to verify or obtain reasonable assurance that it has complied with all the obligations established in Article 5 of Resolution SMV No. 019-2021-SMV/01. It should be clarified that for the fulfillment of the obligation to submit the curriculum vitae of the Directors, the Issuer must use the form called "Director's Curriculum Vitae", contained in the "General Communications" option of the MVNet System. Only in the case that your represented entity determines that it has not complied with any of the obligations regarding the curricula vitae of its Directors, it must respond to the present circular, specifying the reasons for such situation, and evidencing the result and diligence of the remedial measures applied. Such response must be sent to the SMV, within a maximum period of ten (10) business days, counted from the business day following the notification of the present circular, which will expire inevitably on January 13, 2026. In that direction, it is necessary to highlight that in letter f) of article 27 of the Sanctions Regulation, approved by Resolution SMV No. 035-2018-SMV/01, it is established that:

"Article 27.- Exemptions from liability for infractions.- The following constitute conditions exempting liability for infractions: (...) f) Voluntary remediation by the possible sanctioned party of the act or omission imputed as constitutive of an administrative infraction, prior to the notification of the charge imputation referred to in paragraph 3) of article 253 of the LPAG and provided that no communication demanding compliance with the obligation has been issued."

2 "Article 46.- Specific functions of the General Intendancy of Conduct Supervision: (...) 17. Conduct and carry out the supervision and monitoring of entities under its competence with a risk-based approach; (...)"

PERU Ministry of Economy and Finance