Resolution SMV No. 006-2026-SMV/01

PERU Ministry of Economy and Finance

SMV
Superintendency of the Securities Market

"Decade of Equality of Opportunities for Women and Men" "Year of Hope and Strengthening of Democracy"

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Resolution SMV
No. 006-2026-SMV/01

Lima, April 6, 2026

SEEN:

File No. 2025038427 and the Joint Report No. 463-2026-SMV/06/11/12 of March 27, 2026, issued by the Legal Advisory Office, the Adjunct Superintendency of Market Conduct Supervision and the Adjunct Superintendency of Investigation, Development and Innovation, as well as the draft modification of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel, approved by Resolution SMV No. 031-2012-SMV/01 and its amending norms (hereinafter, Project);

CONSIDERING:

That, pursuant to Article 1 of the Unified Concordant Text of the Organic Law of the Superintendency of the Securities Market, approved by Legislative Decree No. 26126 and its amendments (hereinafter, Organic Law), the Superintendency of the Securities Market – SMV aims to ensure the protection of investors, the efficiency and transparency of the markets under its supervision, the correct formation of prices and the dissemination of all information necessary for such purposes, through regulation, supervision and promotion;

That, likewise, according to letter a) of Article 1 of the Organic Law, the SMV has among its functions to issue the legal norms that regulate matters of the securities market, product market and collective investment fund system;

That, letter b) of Article 5 of the Organic Law establishes that the Board of Directors of the SMV has the attribute to approve the regulations of the securities market, product market and collective investment fund system, as well as those to which natural and legal persons subject to the supervision of the SMV must adhere;

That, by Resolution SMV No. 031-2012-SMV/01, published on July 26, 2012 in the Official Gazette El Peruano, the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel (hereinafter, Registration Regulation) and its annexes were approved, among which is Annex No. 15 "Foreign Reference Securities";

That, the aforementioned annex consists of two sections: (i) Section I, which refers to the registration of foreign securities, at the request of the issuer, under the procedure set forth in Article 29 of the Registration Regulation, provided that such securities are admitted to trading on foreign stock exchanges or organized markets that are listed in the list of said section; and (ii) Section II, which refers to the registration of foreign securities, at the request of a stock exchange or promoter agent, under the automatic registration procedure set forth in Article 36-A of the Registration Regulation,

PERU Ministry of Economy and Finance

SMV
Superintendency of the Securities Market

"Decade of Equality of Opportunities for Women and Men" "Year of Hope and Strengthening of Democracy"

2
Electronic document digitally signed under 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

provided that such securities meet conditions I and II found in the list of said section;

That, Article 24, numeral 24.4, of the Registration Regulation establishes that the stock exchange may propose to the SMV, directly or at the request of a brokerage society, the inclusion or exclusion of a stock exchange or organized foreign market, foreign securities, a price index or other scenario different from those indicated in Section II of Annex No. 15 of the Registration Regulation, for which it must present a request accompanied by a technical report in which, in the case of inclusions, it shows that the respective foreign market has standards similar to or greater than those of the Peruvian securities market in terms of information, transparency of operations and investor protection;

That, likewise, the Registration Regulation establishes that, for securities to be registered, they must be admitted to trading on a stock exchange or organized foreign market that is under the supervision of a supervisory entity that has signed the Annex A of the Multilateral Memorandum of Understanding (MMoU) of the International Organization of Securities Commissions (IOSCO, by its acronym in English);

That, in this framework, the Lima Stock Exchange S.A. (hereinafter, BVL), presented before the SMV a proposal to modify the Registration Regulation —approved in BVL Board of Directors Session No. 05.25—, with the objective of including the Colombian Stock Exchange (BVC) and the Santiago Stock Exchange, Stock Exchange (BCS), as well as their MSCI COLCAP and S&P IPSA indices, respectively, in Section II of Annex No. 15 of the aforementioned regulation. To this end, it attached the documentation established in Article 24, numeral 24.4, of the Registration Regulation;

That, in response to the request of the BVL and in accordance with the regulations, it is necessary to modify Conditions I and II of Section II of Annex No. 15 of the Registration Regulation, in order to include the BVC and its MSCI COLCAP index, from the Colombian securities market, and the BCS and its S&P IPSA index, from the Chilean securities market;

That, it should be noted that this inclusion is aligned with a series of initiatives materialized in regulation in recent years within the framework of the market integration process of the Pacific Alliance and which have led to the recognition of markets such as Chile and Colombia under different schemes (intermediary routing, recognition of primary public offerings and mutual investment funds in securities, and the corporate integration process of stock exchanges), under the premise that these have regulation and supervision standards not lower than the Peruvian securities market and the existence of cooperation ties between the regulators of said markets. It should even be noted that markets such as Chile and Colombia are already recognized in Section I of Annex No. 15 of the Registration Regulation, leaving only their recognition in Section II of Annex No. 15 pending, understanding that this segment comprises securities with greater liquidity in these stock exchanges;

That, pursuant to numeral 19.1 of Article 19 of the Regulation that establishes provisions on publication and dissemination of general legal norms, resolutions and draft regulations, approved by Supreme Decree No. 009-2024-JUS, draft legal norms of a general nature must be published in the digital headquarters of the entities of the Public Administration responsible for their preparation or in another medium, ensuring their proper dissemination and easy access. Likewise, clause c) of numeral 20.1 of Article 20 of the aforementioned Regulation provides that the deadline for receiving comments, contributions or opinions must not be less than fifteen (15) calendar days counted from the day following its publication, unless a higher-ranking regulatory provision establishes otherwise;

That, in this framework, by Resolution SMV No. 004-2026-SMV/01, published on March 02, 2026 in the Official Gazette El Peruano, the diffusion of the Project for public consultation for fifteen (15) calendar days was authorized, through the Institutional Page of the Superintendency of the Securities Market on the Unique Digital Platform of the Peruvian State (www.gob.pe/smv), so that interested parties could formulate comments and suggestions on the aforementioned regulatory project. However, during said period, no comments were received;

That, without prejudice to the foregoing, it should be indicated that the inclusion of the BVC and its MSCI COLCAP index, corresponding to the Colombian securities market, and of the BCS and its S&P IPSA index, corresponding to the Chilean securities market, in Section II of Annex 15 of the Registration Regulation, is also beneficial from the perspective of administrative simplification, as it will allow that, pursuant to clauses 24.2.1, 24.2.2 and 24.2.3 of Article 24 of the aforementioned regulation, securities traded on said foreign organized markets be registered in the Public Registry of the Securities Market - RPMV, at the request of the Exchange or the Promoter Agent, under an automatic approval procedure and with special requirements in terms of presentation of documentation and information, without being subject to local market regulation —including norms on public acquisition offers and public buyout offers by exclusion—. In this way, this modification does not imply the creation of new procedures or requirements, nor does it introduce substantive changes that increase the administrative burden; on the contrary, it seeks to facilitate the registration of securities through a more simplified procedure, compared to registration by issuer request, which requires prior evaluation and compliance with the requirements established in Article 29 of the Registration Regulation;

That, in this sense, under the authority of numeral 50.2 of Article 50 of the Regulation of Legislative Decree No. 1565, Legislative Decree that approves the General Law for the Improvement of Regulatory Quality, approved by Supreme Decree No. 023-2025-PCM, the modification made by this norm falls outside the scope of the Ex Ante Regulatory Quality Analysis, insofar as the modifications it incorporates do not imply the creation of new procedures and/or requirements nor substantive changes that increase the administrative burden. In the same line, pursuant to letter l) of clause 41.1 of Article 41 of the aforementioned regulation, this norm is also outside the scope of the obligation to submit the Ex Ante AIR file to the Multisectorial Commission for Regulatory Quality, as it deals with regulatory provisions that fall within the scenarios indicated in numeral 50.2 of Article 50 of said Regulation; and,

Being in accordance with letter a) of Article 1 and letter b) of Article 5 of the Organic Law; numeral 2 of Article 9 of the Regulation on Organization and Functions of the Superintendency of the Securities Market, approved by Supreme Decree No. 216-2011-EF; as well as what was agreed by the Board of Directors of the SMV in its session of March 31, 2026;

IT IS RESOLVED:

Article 1°.- Modify Conditions I and II of Section II of Annex No. 15 of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel, approved by Resolution SMV No. 031-2012-SMV/01, according to the following text:

«(...)

II. Foreign securities that meet condition I and II of this section shall be subject to registration under the automatic registration procedure indicated in Article 36-A of this Regulation, at the request of the Exchanges or Promoter Agents; except for the case of participation units of a foreign Exchange Traded Fund (ETF), in which case they must comply only with condition I of this section.

(Condition I)
Stock Exchanges or Organized Markets
(Condition II)
Price Indices

New York Stock Exchange
Nasdaq Stock Market
Cboe BZX Exchange, Inc.
Cboe BYX Exchange, Inc.
Cboe EDGA Exchange, Inc.
Cboe EDGX Exchange, Inc.
Dow Jones Industrial Average (DJI), Standard & Poor's 500 Index (S&P 500), NYSE 100, NASDAQ 100 Euronext Paris CAC 40 Index Euronext Amsterdam AEX Index London Stock Exchange FTSE 100 Toronto Stock Exchange TSX 60 Colombian Stock Exchange MSCI COLCAP Santiago Stock Exchange, Stock Exchange S&P IPSA

Article 2°.- Publish this resolution in the Official Gazette El Peruano and on the Institutional Page of the Superintendency of the Securities Market – SMV on the Unique Digital Platform of the Peruvian State (www.gob.pe/smv).

Article 3°.- Notify this resolution to the Lima Stock Exchange S.A.

Register, communicate and publish.

Zósimo Juan Pichihua Serna
Superintendent of the Securities Market