Deputy Superintendent Resolution No. 003-2025-SMV/10

PERÚ 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” Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml Deputy Superintendent Resolution SMV No. 003-2025-SMV/10 Lima, January 17, 2025 Subject: Autoplan Empresa Administradora de Fondos Colectivos S.A. is sanctioned with six (6) UIT, for having committed two (2) serious infractions typified in Annex XIII, paragraph 2, item 2.16 of the Sanctions Regulation, for not complying with the provisions of the collective fund administration contract, since it failed to resolve the associate's contract upon verifying three (3) unpaid consecutive installments and as a consequence of the above, did not consider the associate in a quarterly draw for the return of contributions; and for not complying with the legal deadline established to provide a response to complaints. Administered by: Autoplan Empresa Administradora de Fondos Colectivos S.A. Subject: Administrative sanctioning procedure File No.: 2024018560 The Deputy Superintendent of Prudential Supervision SEEN:
Administrative file No. 2024018560, and Report No. 863-2024-SMV/10.3, issued by the General Superintendent of Prudential Compliance; as well as the allegations presented by Autoplan Empresa Administradora de Fondos Colectivos S.A.; and, CONSIDERING:

1. In accordance with Article 1° of Law No. 29782, Law on
   Strengthening the Supervision of the Securities Market, the name of the National Commission for the Supervision of Companies and Securities (CONASEV) is replaced by that of the Securities Market Superintendence (SMV), so that any reference to CONASEV in legal norms shall be understood as referring to the SMV;

PERÚ 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” Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml
I. FACTS
2. On December 11, 2020, MR.1
1 signed with Autoplan Empresa Administradora de Fondos Colectivos S.A. (hereinafter, AUTOPLAN EAFC) the “Collective Fund Administration Contract Purchase Certificate Modality “Autoplan-002” Program No. 027035, Group No. 35, for the allocation of a purchase certificate for US$ 15,000.00 (Fifteen thousand and 00/100 US dollars) (hereinafter, CONTRACT);
3. By the document received on October 21,
2022 2
, MR.1 filed a complaint with the Securities Market Superintendence (SMV) against AUTOPLAN EAFC, in which he states, among other things, that for personal reasons he could not continue paying the monthly installments corresponding to the CONTRACT, for which reason on June 17, 2022 he submitted a letter to AUTOPLAN EAFC requesting the resolution of the CONTRACT. However, the complainant states that he did not receive any response regarding this matter, for which reason on October 11, 2022 he filed a complaint with AUTOPLAN EAFC requesting the appropriate attention to the letter submitted on June 17, 2022;
4. MR.1 attaches as part of his complaint,
among others, the following documents:
a. Copy of the CONTRACT. b. Copy of the letter sent by MR.1 to AUTOPLAN EAFC, in which he requests the resolution of the CONTRACT, with receipt date of June 17, 2022.
c. Copy of the payment schedule of the Collective Fund Administration Contract No. 027035 of MR.1, as of May 30, 2022;
5. With Letter No. 5496-2022-SMV/10.3, notified on
October 27, 2022 (hereinafter, LETTER), the General Superintendent of Prudential Compliance transferred to AUTOPLAN EAFC the complaint filed by MR.1 in order to submit the corresponding comments and was requested, among other information, the following documentation and/or information:
“(…) a. Indicate the current status of the Collective Fund Administration Contract No.
027035 (hereinafter, CONTRACT), as well as the cause and date of its resolution (if applicable). b. If the current status of the CONTRACT is resolved, specify the timing for the return of contributions; indicate from what date MR.1 was considered in the quarterly draws for the return of contributions to associates with resolved contracts and if as of the date of his response he had been favored in any of said draws. (…)
c. The response and other communications sent to MR.1 regarding the request submitted
on June 17, 2022, through which MR.1 requests the resolution of the CONTRACT

1 In the Annex attached to this resolution, the complete data of the natural persons to whom the designations used in this resolution belong are detailed, and likewise, if applicable, the email addresses 2 File No. 2022042230

PERÚ 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” Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml d. The communications sent to MR.1 in response to the complaint filed on October 11, 2022, in which he reiterates his request submitted on June 17, 2022, according to the complaint. (…)”;
6. On November 8, 2022, AUTOPLAN EAFC
submitted a document, through which it requested an extension of the deadline granted to submit the information and documentation required by the LETTER;
7. With Letter No. 5717-2022-SMV/10.3, notified on November 9
2022, the extension of the deadline requested by AUTOPLAN EAFC was granted;
8. On November 16, 2022, AUTOPLAN EAFC gave
response to the LETTER, stating, among other things, that the CONTRACT was resolved with a date of January 31, 2022 due to the cause of non-payment. Likewise, regarding the letter submitted on June 17, 2022 and the complaint of October 11, 2022, submitted by MR.1, the administrator indicates that due to the state of emergency of the year 2020 it has presented a delay in the responses provided to its associates; however, it refers that it has already attended to the communications presented by the complainant;
9. In this sense, AUTOPLAN EAFC presented the
following documentation, among others, which is part of the file:
a. Copy of the email sent on November 16, 2022 at 04:03 hours by EMPLOYEE1 of AUTOPLAN EAFC, Claims Analyst of AUTOPLAN EAFC, to EMAIL1 (email address of MR.1 indicated in his complaint letter) with the subject “RESPONSE NOTARIAL LETTER AND CLAIM No. 3034 FROM THE VIRTUAL CLAIMS BOOK AUTOPLAN //MR. INFANTE”. b. Two copies of the letter dated November 16, 2022 sent by AUTOPLAN EAFC in response to the notarial letter sent on June 17, 2022 and the claim No. 3034 from the virtual claims book filed by MR.1;
10. Through Letter No. 1780-2024-SMV/10.3 notified
on April 30, 2024 (hereinafter, LETTER OF CHARGES), an administrative sanctioning procedure was initiated against AUTOPLAN EAFC, charging it with charges for some facts related to the complaint of MR.1;
11. AUTOPLAN EAFC has not presented its defenses
to the administrative sanctioning procedure initiated through the LETTER OF CHARGES, until the date of issuance of this Resolution;
12. The charges formulated against AUTOPLAN EAFC have been
subject to evaluation by the General Superintendent of Prudential Compliance in the Report No. 863-2024-SMV/10.3, which has been submitted to the knowledge of this Deputy Superintendence;
13. In observance of the Principle of Due
Process contemplated in both Article IV, item 1, paragraph 1.2 of the Preliminary Title, as well as in Article 248°, paragraph 2, of the Single Text of the General Administrative Procedure Law, Law No. 27444, approved by Supreme Decree No. 004-2019-JUS, published on January 25, 2019 (hereinafter, TUO OF THE LPAG), through Letter No. 2770-2024-SMV/10, it was made available to AUTOPLAN

PERÚ 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” Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml EAFC the administrative file to which the present resolution refers for its review;
14. On July 27, 2024, the administrator sent a
copy of the Extrajudicial Transaction (hereinafter, the TRANSACTION) signed between AUTOPLAN EAFC and MR.1, dated July 22, 2024
II. ISSUES TO DETERMINE
15. In the present administrative procedure, at
the discretion of this Deputy Superintendence, it corresponds to determine the following:
a. Whether AUTOPLAN EAFC incurred or did not incur the infraction provided for in Annex XIII, paragraph 2, item 2.16 of the Sanctions Regulation, approved by Resolution No. 035-2018- SMV/01 (hereinafter, SANCTIONS REGULATION), for not having complied with the contract of collective fund administration, since it failed to resolve the CONTRACT of MR.1 upon verifying three (3) unpaid consecutive installments; and, as a consequence of the above, did not consider the associate in a quarterly draw for the return of contributions. b. Whether AUTOPLAN EAFC incurred or did not incur the infraction provided for in Annex XIII, paragraph 2, item 2.16 of the SANCTIONS REGULATION, for not having complied with the contract of administration of collective funds regarding the legal deadline established for providing a response to the complaints filed by MR.1.
c. Whether it corresponds or not to impose sanctions on AUTOPLAN EAFC;
III. ANALYSIS
3.1 On the Applicable Normative
A. ON THE CONTRACT
16. Regarding the CONTRACT, Article 21°, first
paragraph, of the Regulation of the Collective Funds System and its Administrator Societies, approved by SMV Resolution No. 020-2014-SMV-01 and its modifications (hereinafter, REGULATION) provides:
“Article 21.- Contract
The Contract is of a private nature and has a collective character, it regulates the relations between the Associates and the Administrator, and in it the rights and obligations of both parties are established; its content is governed by what is established in Article 95 of the Regulation. (…)”. (Underline added); B. ON THE RESOLUTION OF THE CONTRACT AND THE RETURN OF CONTRIBUTIONS BY QUARTERLY DRAWS
17. Regarding the unilateral resolution of the
CONTRACT and the return procedure for associates not allocated with a resolved contract, Article 99 of the REGULATION, in force at the time the facts occurred, indicates the following:
“Article 99.- Resolution of Contract
The Administrator must unilaterally resolve the Contract when the Associate has failed to pay three (03) Total Consecutive Installments. (…)”

PERÚ 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” Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml (…) a) When it comes to an Unallocated Associate, (...) The Associate with a Resolved Contract will participate in quarterly draws and if he is benefited by the draw, the Capital Installments contributed will be returned to him, deducting the penalties established in the Contract. If he is not benefited by the draw, the Associate with a Resolved Contract will receive his contributions at the end of the Group, with the deductions that correspond according to what is established in the Contract. (…)” (Underline added);
18. In the fifth and sixth paragraphs of Article 122 of the
REGULATION, it establishes the procedure applicable for the return of contributions to unallocated associates with resolved contracts after the first assembly in which he is entitled to participate; “Article 122.- Return of contributions (…) In other cases, when it comes to Associates with some Unallocated Contract, the return of their contributions can be made through draws in Assembly according to what is established in paragraph a) of Article 99 of the Regulation, deducting the penalties established in the Contract. To Associates with resolved contracts who were not benefited by the draw their contributions will be returned at the end of the Group. (…).” (Underline added);
19. On the other hand, clause eleventh,
paragraphs 11.3 and 11.6 of the CONTRACT establish:
“ELEVENTH CLAUSE: ON NON-PAYMENT AND
CAUSES FOR RESOLUTION OF THE CONTRACT
(…)
11.3 The Unallocated Associate who incurs in the non-payment of three
(3) Total Monthly Installments consecutively, will incur in a contractual resolution cause, AUTOPLAN being able to resolve the Contract ex officio, sufficient for this the sending of a communication to the defaulting party indicating its decision to resolve the Contract. In this case AUTOPLAN can cover the vacancy through the sale of the same. (…)
11.6 Under no circumstances can the Contract be in a situation of delinquency for more than
three (3) consecutive months, a period after which, AUTOPLAN will resolve it ex officio.”(Underline added);
20. Finally, clause fifteenth, paragraph
15.2 of the CONTRACT establishes:
“15.2 UNALLOCATED ASSOCIATE: The Associate with Unallocated Contract resolved after the period established in paragraph 15.1 of Clause Fifteenth, will only have the right to the return of the Capital Installments contributed minus a penalty equivalent to two (2) of them. (…)

PERÚ 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” Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml The return will be made through Quarterly Draws, the mechanism for identifying the Unallocated Associate with Resolved Contract benefited will be determined taking as reference the number of winning ball of the Draw. In case this winning ball does not correspond to a number of vacancy with Resolved Contract, the closest number will be taken, either immediately above or immediately below according to the ball extracted in the Draw of choice criterion performed at the beginning of the Assembly. In case the number benefited for the return of contributions corresponds to a vacancy with more than one Associate with Resolved Contract, a Draw will be carried out among them to determine which will be the Unallocated Associate with Resolved Contract benefited with the return of his contributions.” For the case of those Unallocated Associates with Resolved Contract who do not result benefited with the return of their contributions, the return will be made at the end of the Group in the liquidation stage, prior to the deduction of the penalty and of what is owed for Enrollment Installment.” (Underline added);
C. DEADLINE FOR ATTENDING COMPLAINTS
21. Regarding the resolution of complaints, Article
68 of the REGULATION provides the following:
“Article 68.- Resolution of complaints
The Administrator must have responsible personnel to attend to the complaints of the Associates, subject to what is established in the Norms applicable to complaints and claims against entities supervised by the Securities Market Superintendence - SMV, approved by SMV Resolution No. 006- 2012-SMV-01, or the norm that replaces it”;
22. In that sense, Article 3 of the “Norms
applicable to complaints and claims against entities supervised by the Securities Market Superintendence - SMV” approved by SMV Resolution No. 006-2012-SMV-01 (hereinafter, NORMS APPLICABLE TO COMPLAINTS AND CLAIMS) establishes the procedure for attending to complaints:
“Article 3.- Attention of complaints by legal persons authorized by the SMV Without prejudice to the compliance with the norms that determine the direct attention of complaints that could be filed by final consumers and the obligation to have a Claims Book, within the framework of what is provided by Articles 24 and 150 of the Consumer Protection and Defense Code, Law No. 29571, the legal persons to which the SMV has granted operating authorization are obligated to directly attend any complaint by their clients regarding the services they provide, within a maximum period of thirty (30) calendar days from the date of presentation of the respective complaint. This period can be extended by another equal one when the nature of the complaint justifies it, situation that is brought to the knowledge of the claimant before the end of the initial period. If the claimant requires it, the response must be made in writing. (…).” (Underline added);
23. Likewise, clause tenth, paragraph 10.1, literal
c) last paragraph of the CONTRACT establishes:
“CLAUSE TENTH: ON THE RIGHTS AND OBLIGATIONS
10.1 RIGHTS OF THE ASSOCIATES

PERÚ 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” Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml (…) c). (…) On the other hand, in case complaints are filed by the Associate, these complaints will be forwarded to the corresponding area of AUTOPLAN, which will have a period of thirty (30) calendar days to resolve the indicated complaint, counted from the receipt of the same. This period may be prorogued according to its nature. The filing of a complaint in accordance with this clause does not constitute a prior path nor implies any limitation for the Associate to use another mechanism for dispute resolution (…)(Underline added)”;
3.2. On the Charges Formulated
A. On the resolution of the CONTRACT and the non-consideration of the CONTRACT in the quarterly draw of resolved contracts for the return of contributions
24. MR.1 states in his complaint letter that
for personal reasons he stopped paying the monthly installments corresponding to the CONTRACT, for this reason on June 17, 2022 he submitted a letter to AUTOPLAN EAFC requesting the resolution of his collective fund administration contract, invoking among others, what is established in clause eleventh, paragraph 11.3, of the CONTRACT, and Articles 99 and 122 of the REGULATION;
25. On the other hand, in his response letter to MR.1
of November 16, 2022, AUTOPLAN EAFC states that the CONTRACT was resolved on January 31, 2022 being the cause of resolution the non-payment of the monthly installments;
26. Regarding this matter, from the review of the information
submitted by AUTOPLAN EAFC to the SMV in the “Associate Status Archive (SIT)”3 and registered in the SMV collective fund information systems consulted for the period from January 1, 2020 to January 12, 2024, it has been verified that MR.1 presents a status of “Resolved”, regarding the CONTRACT, with a withdrawal date of January 31, 2022. That is, the CONTRACT was resolved by AUTOPLAN EAFC on January 31, 2022;
27. In accordance with what is established in clause eleventh,
paragraphs 11.3 and 11.6 of the CONTRACT, the unallocated associate who incurs in the non-payment of three (3) total monthly installments consecutively will incur in a contractual resolution cause, AUTOPLAN EAFC being able to resolve the contract ex officio, sufficient for this the sending of a communication to the defaulting party indicating its decision to resolve the CONTRACT. Likewise, it is established that under no circumstances can the CONTRACT be in a situation of delinquency for more than three (3) consecutive months, a period after which AUTOPLAN EAFC will resolve it ex officio. In concordance with the above, it should be noted that according to Article 99, first paragraph of the REGULATION, administrator companies must unilaterally resolve the collective fund administration contract when the associate has failed to pay three (3) total consecutive installments;

According to what is stated in the “Technical Specifications Manual for the submission to the SMV of information from administrator companies of collective funds” approved by Superintendent Resolution No. 102- 2016-SMV/02.

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml
28. In this regard, in the Payment Schedule as of May 30, 2022 presented by MR. 1, as well as in the Payment Schedule as of November 14, 2022 included by AUTOPLAN EAFC in the letter of November 16, 2022, it is observed that MR. 1 paid up to installment No. 8 of his contract, which matured on July 20, 2021. That is, by installment eleven (11) corresponding to the month of October 2021 with maturity on October 20, 2021, the member would have already failed to pay three (3) total consecutive installments;
29. Consequently, AUTOPLAN EAFC was required to resolve the CONTRACT by operation of law upon verifying that MR. 1 incurred in the non-payment of three (3) total consecutive monthly installments, which occurred on October 20, 2021, after the monthly installments No. 9, 10, and 11 matured, for which the administering company was required to send a communication to the member informing him about the unilateral resolution of the CONTRACT. However, AUTOPLAN EAFC resolved the CONTRACT on January 31, 2022, and communicated it to MR. 1 on November 16, 2022, a date subsequent to the presentation of his complaint and the notice of transfer;
30. Likewise, Article 122 of the REGULATION establishes, among others, that the return of contributions to members with some resolved but unawarded contract, as is the case of MR. 1, may be carried out through quarterly draws in assembly, in accordance with what is established in letter a) of the aforementioned Article 99 of the REGULATION, deducting the penalties established in the CONTRACT, and to members who are not favored by the draw, their contributions will be returned at the end of the group. In this context, clause fifteenth, numeral 15.2 of the CONTRACT establishes, among others, that the return to members with a resolved unawarded contract will be carried out through quarterly draws and, in case they are not benefited, the return will be made at the end of the group in the liquidation stage;
31. In this regard, AUTOPLAN EAFC was required to consider MR. 1 in the quarterly draws carried out from the date of resolution of the CONTRACT;
32. From the review carried out as of April 22, 2024 of the results of the quarterly assemblies published on the website 4 of AUTOPLAN EAFC, it should be noted that on December 22, 2021, a quarterly draw for the return of contributions of the “Autoplan-002” Program was held, among which was group No. 35, to which MR. 1 belonged, as observed in the document titled “quarterly draw december-21”, which is published on the AUTOPLAN EAFC website 5;
33. Nevertheless, AUTOPLAN EAFC, upon resolving the CONTRACT on January 31, 2022, did not consider MR. 1 in the quarterly draw for the return of his contributions for the month of December 2021, as the administering company manifested in its response to the OFFICE of November 16, 2022: “(…) in view that the contract was RESOLVED on date 31/01/2022, the member is entitled to participate in the quarterly draws from the month of March of this year (and the following ones)”;

https://www.autoplan.pe/site/partner
Idem.

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml
34. In that sense, it is observed that AUTOPLAN EAFC caused MR. 1 to lose the opportunity to be benefited in the quarterly draw of the aforementioned month. Since, in the case he had been benefited in said draw, the capital installments contributed would have been returned to him, deducting the corresponding concepts according to the CONTRACT;
35. Consequently, it was attributed to AUTOPLAN EAFC that it would have failed to comply with what is provided for in clause eleventh, numeral 11.6, in concordance with numeral 11.3 of the CONTRACT and with Article 99, first paragraph, of the REGULATION, insofar as it would not have complied with resolving the CONTRACT, after verifying the non-payment of three (3) consecutive installments, nor complied with timely communicating to MR. 1 about its decision to unilaterally resolve the CONTRACT. Likewise, as a consequence of the above, it would not have complied with what is provided for in numeral 15.2 of clause fifteenth of the CONTRACT, insofar as it did not include MR. 1 with respect to the CONTRACT, in the quarterly draw of the month of December 2021, causing the complainant to lose the opportunity to be benefited, in said draw, in concordance with what is established in letter a) of Article 99 and Article 122 of the REGULATION;
36. In that sense, AUTOPLAN EAFC would have incurred in one (1) infraction qualified as serious, according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infraction: “Not comply with the provisions of the collective fund administration contract celebrated with the member”;
B. Regarding the deadline for attending complaints
37. Through his complaint, MR. 1 states that on June 17, 2022, he presented to AUTOPLAN EAFC a written request for the resolution of the CONTRACT and the return of his contributions. Nevertheless, the complainant states that he did not receive any response from the administering company, for which reason, on October 11, 2022, he presented a complaint before AUTOPLAN EAFC requesting attention to the written request presented on June 17, 2022. It should be noted that MR. 1 has presented a copy of the letter presented to AUTOPLAN EAFC on June 17, 2022;
38. In view of the above, through the OFFICE, AUTOPLAN EAFC was required to provide the communications sent to MR. 1 in response to the written request of June 17, 2022, and to the complaint presented on October 11, 2022;
39. On this particular matter, AUTOPLAN EAFC in its written submission of November 16, 2022 presented to the SMV, indicated that it had already given attention to the communications sent by MR. 1 and that the reason for the delay in attention was the state of emergency presented in the year 2020. It also highlighted that said situation was not caused intentionally, but by a fortuitous event and force majeure;
40. In this regard, it presented a copy of an electronic mail sent on November 16, 2022 at 04:03 hours, by FUNCTIONARY1, Claims Analyst of AUTOPLAN EAFC to EMAIL1 (email address provided by MR. 1 in his complaint writing) with the subject “RESPONSE NOTARIAL LETTER AND COMPLAINT N° 3034 OF THE VIRTUAL COMPLAINTS BOOK AUTOPLAN //Mr. INFANTE”, as well as a copy of the letter addressed to MR. 1 of

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml date November 16, 2022, sent as a response in the aforementioned electronic mail;
41. At this point, it must be noted that, according to the applicable regulation, the deadline for the resolution of members' complaints by AUTOPLAN EAFC is thirty (30) calendar days from their receipt, which may be extended by an equal period if warranted, prior communication to the member;
42. In that sense, the two (2) complaints formulated by MR. 1 should have been resolved within thirty (30) days from their receipt; however, it is noted that MR. 1 received a response from AUTOPLAN EAFC regarding his complaints after a period that exceeded the established deadline, on November 16, 2022;
43. Considering the above, AUTOPLAN EAFC would not have complied with observing what is provided for in Article 68 of the REGULATION, Article 3 of the NORMS APPLICABLE TO COMPLAINTS AND GRIEVANCES, and clause tenth, numeral 10.1, letter c), last paragraph of the CONTRACT; insofar as AUTOPLAN EAFC would not have complied with the deadline established to provide a response to the two (2) complaints filed by MR. 1;
44. Therefore, it was attributed to AUTOPLAN EAFC that it would have incurred in one (1) infraction qualified as serious, according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infraction: “Not comply with the provisions of the collective fund administration contract celebrated with the member”;
3.3. Of the defenses
45. In this regard, it must be noted that AUTOPLAN EAFC up to the date of issuance of this resolution, has not presented defenses to the observations formulated through the NOTICE OF CHARGES;
3.4 Of the analysis of the charges
46. Without prejudice to the above, it is necessary to note that AUTOPLAN EAFC is a company supervised by the SMV, with operating authorization granted by Superintendent Resolution No. 024-2015-SMV/02 of February 17, 2015, and has knowledge of the regulation under which the collective fund system operates, as well as the rights and obligations established in the contracts it administers, for which it has the obligation to act diligently as a collective fund administering company, however, this did not occur, since the administering company incurred in the commission of two (2) infractions subject to charges;
A. Regarding the resolution of the CONTRACT and the non-consideration of the CONTRACT in the quarterly draw of resolved contracts for the return of contributions
47. In effect, in the present case it is observed that AUTOPLAN EAFC did not comply with resolving the CONTRACT of MR. 1, after it was proven that the unawarded member incurred in the non-payment of three (3) total consecutive monthly installments (which occurred on October 20, 2021), for which the administering company was required to send a communication to the member informing him about the unilateral resolution of the CONTRACT. On the contrary, AUTOPLAN EAFC resolved the CONTRACT on January 31, 2022, and communicated it to MR. 1 on November 16, 2022, failing to comply with what is provided for in clause eleventh, numeral 11.6, in concordance with numeral 11.3 of the CONTRACT and with Article 99°, first paragraph, of the REGULATION;
48. Likewise, as a consequence of the above, it did not consider MR. 1 in the quarterly draw for the return of his contributions for the month of December 2021, failing to comply with what is provided for in numeral 15.2 of clause fifteenth of the CONTRACT, in concordance with what is established in letter a) of Article 99 and Article 122 of the REGULATION;
49. Consequently, it is noted that AUTOPLAN EAFC incurred in one (1) infraction qualified as serious, according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infraction: “Not comply with the provisions of the collective fund administration contract celebrated with the member”;
B. Regarding the deadline for attending complaints
50. With respect to this charge, it is observed that the two (2) complaints of June 17 and October 11, 2022 filed by MR. 1, were resolved by AUTOPLAN EAFC on November 16, 2022, that is, after the thirty (30) days from their receipt, failing to comply with what is established by Article 68° of the REGULATION, Article 3 of the NORMS APPLICABLE TO COMPLAINTS AND GRIEVANCES, and clause tenth, numeral 10.1, letter c), last paragraph of the CONTRACT;
51. Consequently, it is noted that AUTOPLAN EAFC incurred in one (1) infraction qualified as serious, according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infraction: “Not comply with the provisions of the collective fund administration contract celebrated with the member”;
IV. EVALUATION OF THE SANCTION
52. According to Article 7 of Decree Law No. 21907 on Collective Fund Companies and Article 25 of the SANCTIONS REGULATION; in concordance with Article 248, numeral 3 6 of the TUO OF THE LPAG, and Article 257 7 of the aforementioned normative body; the administrative sanctions that shall be imposed must take into account the criteria provided for by Decree Law No. 21907, the SANCTIONS REGULATION, and the TUO OF THE LPAG;

“Article 248.- Principles of the administrative sanctioning power The sanctioning power of all entities is additionally governed by the following special principles:
(…)
3. Reasonableness.- The authorities must foresee that the commission of the sanctionable conduct does not result in more advantage for the offender than complying with the infringed norms or assuming the sanction. However, the sanctions to be applied must be proportional to the infraction qualified as such, observing the following criteria that are indicated for the purposes of their graduation:
a) The illicit benefit resulting from the commission of the infraction; b) The probability of detection of the infraction; c) The gravity of the damage to the public interest and/or protected legal good; d) The economic prejudice caused; e) Recidivism, for the commission of the same infraction within the term of one (1) year from when the resolution sanctioning the first infraction became final. f) The circumstances of the commission of the infraction; and g) The existence or non-existence of intent in the conduct of the offender”. “Article 257°.- Exemptions and mitigating conditions of responsibility for infractions 1.- The following constitute conditions exempting responsibility for infractions:
a) Fortuitous event or force majeure duly proven. b) Acting in compliance with a legal duty or the legitimate exercise of the right of defense.

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml imposing them must take into account the criteria provided for by Decree Law No. 21907, the SANCTIONS REGULATION, and the TUO OF THE LPAG;
53. Within that framework, the evaluation of the sanction must consider: a) Antecedents of the offender; b) Recidivism; c) Circumstances of the commission of the infraction; d) Economic prejudice caused and its repercussion in the market; e) Illicit benefit resulting from the commission of the infraction; f) Probability of detection of the infraction; g) Gravity of the damage to the public interest and/or protected legal good; h) Existence or non-existence of intent in the conduct of the offender;
54. In that sense, for the purpose of harmonizing the criteria of the TUO OF THE LPAG, with those indicated in Decree Law No. 21907 and in the SANCTIONS REGULATION, and for these criteria to be considered adequately so that their valuation observes the principle of reasonableness and that the sanction to be imposed adapts to these, it proceeds to analyze the following criteria;
55. With respect to sanction antecedents, in accordance with what is provided for in Article 25, letter a) of the SANCTIONS REGULATION, antecedents constitute the final sanctions imposed by the SMV within the term of four (4) years prior to the commission of the infraction to be sanctioned. The aforementioned article specifies that the commission of the same infraction in the year prior to the infraction to be sanctioned is not considered as antecedent;
56. In such sense, from the review carried out in said period, it has been verified that AUTOPLAN EAFC registers the following final sanctions:
No. Resolution Resolved Finality Antecedent
(*) i
Deputy Superintendent Resolution
SMV No.
112-2017-SMV/10 8
AUTOPLAN EAFC is sanctioned with a fine of two (02) UIT, for having incurred in one (01) infraction of a serious nature typified in
Annex XIX, numeral 2, item 2.12 of the Sanctions Regulation approved by Resolution CONASEV No. 055-2001-EF/94.10 and
its modifying norms (hereinafter OLD SANCTIONS REGULATION), for not having complied with presenting the First Semester Report of the Compliance Officer of the exercise 2015, within the deadline established in the Norms for the Prevention of Money Laundering and Financing of Terrorism. 12/12/2017 A

c) Mental incapacity duly proven by the competent authority, always that this affects the aptitude to understand the infraction. d) Mandatory order of competent authority, issued in the exercise of its functions. e) Error induced by the Administration or by confusing or illegal administrative provision. f) Voluntary subsanation by the possible sanctioned of the act or omission imputed as constitutive of administrative infraction, prior to the notification of the charge imputation referred to in item 3) of Article 255. g) The voluntary subsanation by the possible sanctioned of the act or omission imputed as constitutive of administrative infraction, prior to the notification of the charge imputation referred to in item 3) of Article 255. 2.- The following constitute mitigating conditions of responsibility for infractions:
a) If an administrative sanctioning procedure is initiated and the offender recognizes his responsibility expressly and in writing.
In cases where the applicable sanction is a fine, it is reduced to an amount not less than half of its value. b) Others that are established by special norm”.
8 Notified on November 17, 2017.

PERÚ Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
“Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” "Año de la recuperación y consolidación de la economía peruana" Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml No. Resolution Resolved Finality Antecedent (*) ii Deputy Superintendent Resolution SMV No. 017-2018-SMV/10 9 AUTOPLAN EAFC is sanctioned with six (6) reprimands and a fine of 15.48 UIT for having incurred in eleven (11) infractions of a light nature typified in Annex XIV, numeral 3, item 3.1 of the OLD SANCTIONS REGULATION, for not having complied with presenting periodic information within the deadline established in the applicable regulation. Likewise, it is declared that Autoplan Empresa Administradora de Fondos Colectivos S.A. has not incurred in four (4) infractions of a light nature typified in Annex XIV, numeral 3, item 3.1 of the Sanctions Regulation; in consequence, the administrative sanctioning procedure is concluded in these respects. 30/12/2021 B iii Deputy Superintendent Resolution SMV No. 023-2019-SMV/10 10 It is declared that AUTOPLAN EAFC has incurred, up to the date of the events, in three (03) infractions of a serious nature typified in
Annex XIX, numeral 2, item 2.12 of the OLD SANCTIONS REGULATION,
for not having complied with presenting a Semester Report of the Compliance Officer and Independent Annual Compliance Reports within the deadlines established in the Norms for the Prevention of Money Laundering and Financing of Terrorism, to which the exemption of responsibility for voluntary subsanation contained in Article 257, item 1, letter f) of the Single Ordered Text of the General Administrative Procedure Law applies and therefore the archiving of the administrative sanctioning procedure. 05/06/2019 A and B iv) Deputy Superintendent Resolution SMV No. 011-2019-SMV/10 11 AUTOPLAN EAFC is sanctioned with two (02) reprimands for having incurred in two (02) infractions of a serious nature typified in Annex XIV, numeral 2, item 2.21 and Annex XIV, numeral 2, item 2.41 of the OLD SANCTIONS REGULATION, for not having adequately determined the order of preference of the substitute awardees. 11/04/2019 A and B v) Deputy Superintendent Resolution SMV No. 004-2020-SMV/10 12 AUTOPLAN EAFC is sanctioned with a fine of three (03) UIT for having incurred in two infractions; one (01) of a serious nature typified in Annex XIV, numeral 2, item 2.22 of the OLD SANCTIONS REGULATION, for not complying with the conditions established in the regulation for the call or for the celebration of assemblies; and, one (01) of a light nature typified in Annex XIV, numeral 3, item 3.13 of the Sanctions Regulation, for not timely sending to the member the information on the assembly calendar. Likewise, it is disposed as a corrective measure that within the term of three (03) business days, Autoplan Empresa Administradora de Fondos Colectivos S.A. returns to Mrs. Yris Emperatriz Arbaiza Ybaceta the sum of US$ 800.00 (Eight hundred and 00/100 United States dollars of America) delivered to the aforementioned administering company in the framework of the Collective Fund Administration Contract celebrated with the member, as well as execute the guarantee constituted by AUTOPLAN EAFC in accordance with what is provided by 01/12/2020 A and B

9 Notified on May 11, 2018.
10 Notified on May 14, 2019.
11 Notified on March 21, 2019.
12 Notified on February 03, 2020.

PERÚ Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the recovery and consolidation of the Peruvian economy" Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

Nº	Resolution	Firmness	Antecedent (*)
	article 40° of the REGULATIONS in case of non-compliance with the ordered payment.
vi)	Resolution of the Adjunct Superintendent SMV No. 013-2021-SMV/10	13	Sanctions are imposed on AUTOPLAN EAFC with three (03) reprimands and a fine of 28.0045 UIT for having committed twenty (20) minor infractions typified in Annex XIV, numeral 3, item 3.1 of the SANCTIONS REGULATIONS and in two (02) minor infractions typified in Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATIONS, for failing to present periodic information within the deadline established by the applicable regulation regarding intermediate financial information and management report.	21/04/2021	A and B
vii)	Resolution of the Adjunct Superintendent SMV No. 060-2021-SMV/10	14	Sanctions are imposed on AUTOPLAN EAFC with a fine of 18.3345 UIT for having committed twelve (12) minor infractions typified in Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATIONS, for failing to present periodic information within the deadline established by the applicable regulation.	24/01/2022	B
viii)	Resolution of the Adjunct Superintendent SMV No. 003-2022-SMV/10	15	Sanctions are imposed on AUTOPLAN EAFC with four (04) UIT for having committed one (01) serious infraction typified in Annex XIV, numeral 2, item 2.6 of the SANCTIONS REGULATIONS, for granting loans to third parties exceeding the limit established by the regulation.	18/03/2022	B
ix)	Resolution of the Adjunct Superintendent SMV No. 021-2022-SMV/10	16	Sanctions are imposed on AUTOPLAN EAFC with a fine of 3.0855 UIT for having committed two (2) minor infractions typified in Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATIONS, for failing to present periodic information within the deadline established by the applicable regulation.	02/11/2022	B

(*) Literals of the consideration 15.

57. With respect to recidivism for the commission of the same infraction; the firm sanction imposed by the SMV within a period of one (1) year prior to the commission of the infraction to be sanctioned is taken into account. Within this framework, it must be stated that AUTOPLAN EAFC does not present sanctions within the aforementioned period for the commission of the same infractions under analysis in the present administrative sanctioning procedure, so recidivism is not configured;

58. With respect to the circumstances of the commission of the infractions, it must be mentioned that AUTOPLAN EAFC, in its capacity as a company supervised by the SMV, is aware of the regulations governing the collective fund system and, in that sense, of the regulations relative to the rights of the members, as well as the regulations that oblige it to resolve the CONTRACT, and subsequent consideration of the member in the quarterly draws. Likewise, it is aware of the regulations that oblige it to attend to complaints filed by the members within the deadline established in the applicable regulation;

59. It is worth reiterating that AUTOPLAN EAFC has the obligation to comply with the contract signed with its members, which establishes the

13 Notified on March 26, 2021.
14 Notified on December 29, 2021
15 Notified on February 24, 2022.
16 Notified on October 6, 2022.

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the recovery and consolidation of the Peruvian economy" Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml rights and obligations of the members and the managing company, and whose model is authorized by the SMV, at the request of the managing company;

60. Notwithstanding the above, in the present case it is observed that AUTOPLAN EAFC committed two infractions since it did not resolve the CONTRACT upon verifying the non-compliance of three (3) total consecutive monthly installments (which occurred on October 20, 2021). Regarding this, it was verified that the CONTRACT was resolved by AUTOPLAN on January 31, 2022. Consequently, AUTOPLAN EAFC did not consider MR.1 in the quarterly draw of the month of December 2021, in which non-awarded members with resolved contracts participate, thus preventing him from being benefited by said draw;

61. Likewise, it has been proven that AUTOPLAN EAFC did not attend to the complaints of June 17 and October 11, 2022 filed by MR.1, within thirty (30) days from their receipt, as indicated by the applicable regulation. In this sense, it must be indicated that the first of the complaints was attended to 122 days later with respect to the deadline and in the second case, the delay was 06 days;

62. It must be taken into account that these facts were evidenced from the complaint against AUTOPLAN EAFC filed by MR.1 with the SMV on October 21, 2022;

63. It is worth adding that in the present case, the company, subsequently to the imputation of charges, celebrated the TRANSACTION on July 22, 2024 with MR.1, through which AUTOPLAN EAFC committed to granting MR.1 the sum of USD 4,168.59 (Four thousand one hundred sixty-eight with 59/100 US dollars). This sum is greater than the total amount of contributions corresponding to the COMPLAINANT for the CONTRACT;

64. Through the TRANSACTION, MR.1 records his agreement with the return made in his favor of the sum of US$4,168.59 (Four thousand one hundred sixty-eight with 59/100 US dollars), with the complainant recognizing that this sum of money satisfies in its entirety any economic claim, regarding the facts arising from his complaint. Likewise, as part of the TRANSACTION (which was sent on July 25, 2024), the parties accept that the payment be made in up to 20 business days from its signing;

65. With respect to the damage caused and its repercussion on the market. In the present case, it has not been evidenced that the infraction committed by AUTOPLAN EAFC has produced a concrete quantifiable damage in the market; however, these facts affect the confidence of the members or potential members in the collective fund system;

66. Likewise, from the facts it is evidenced that damage has been caused to MR.1, since, by resolving the CONTRACT only on January 31, 2022, AUTOPLAN EAFC did not include MR.1 in one of the assemblies corresponding to the quarterly draws of resolved contracts in which he was supposed to participate, causing the member to lose the opportunity to be benefited with the return of his contributions corresponding to the CONTRACT;

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the recovery and consolidation of the Peruvian economy" Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

67. It is worth adding that if he had been benefited in said draw, the member could have disposed of his money based on his needs and obtain some benefit from it;

68. Regarding the illicit benefit resulting from the commission of the infractions; it must be noted that it has not been proven that AUTOPLAN EAFC obtained a benefit that is directly related to the infractions under analysis in the present administrative procedure;

69. With respect to the probability of detection of the infraction; it must be indicated that the facts constituting the infractions committed by AUTOPLAN EAFC were evidenced when verifying compliance with the applicable regulation for the development of its functions, based on the facts exposed by MR.1 in the complaint filed against the managing company, so the probability of detection of the infraction was low;

70. Regarding the gravity of the damage to the public interest and/or protected legal good, in the present case it has not been possible to prove that the conduct of AUTOPLAN EAFC in the commission of the infractions under analysis in the present sanctioning procedure has caused damage to the determinable public interest;

71. Notwithstanding, it must be noted that according to the applicable regulation and the CONTRACT, AUTOPLAN EAFC has the obligation to resolve the contract if the member has failed to pay three (3) total consecutive monthly installments, and subsequent obligation to consider the member in the quarterly draws for resolved contracts. Likewise, the managing company must have personnel responsible for attending to the complaints of the members, whose maximum attendance deadline is thirty (30) calendar days from the date of presentation of the respective complaint. In general, it has the obligation to comply with the contract signed with the members, in which the rights and obligations of the members, and the managing company are established, and whose model is authorized by the SMV, at the request of the managing company;

72. In this way, taking into account that collective fund managing companies have the obligation to act in strict compliance with the regulation applicable to them such as the provisions established in the CONTRACT, the REGULATIONS and the REGULATIONS APPLICABLE TO COMPLAINTS AND CLAIMS, in safeguarding the collective fund system, the transgression of said regulation affects the legal good referred to the integrity of the market, that is, of the collective fund system and especially affects the confidence of the members or potential members in the collective fund system;

73. Regarding the existence or not of intent in the conduct of the offender, it must be specified that intent has not been verified in the conduct of AUTOPLAN EAFC regarding the infractions under analysis;

74. Notwithstanding, in the present case it has been proven that AUTOPLAN EAFC did not resolve the CONTRACT within the deadline established in the regulation, and consequently did not consider MR.1 in the quarterly draw of contribution return of the month of December 2021; as well as that the managing company did not attend to the complaints within the deadline established in the regulation;

75. In this sense, a lack of due diligence on the part of AUTOPLAN EAFC towards its members is demonstrated; given that, it

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the recovery and consolidation of the Peruvian economy" Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml is not admissible that a Collective Fund Managing Company such as AUTOPLAN EAFC with several years operating in the market can overlook the compliance with essential regulations under which the Collective Fund system operates and the own provisions of the contracts it manages;

76. In addition to the above, it corresponds to analyze the exemptions and mitigating circumstances of responsibility established in article 257 of the TUO DE LA LPAG, as well as the mitigating and exempting conditions of responsibility established in articles 26 and 27 of the SANCTIONS REGULATIONS;

77. In accordance with what has been analyzed, it is not observed that in the present case any of the circumstances that constitute mitigating conditions of responsibility have been configured. With respect to the voluntary declaration of the commission of the infractions (article 257, numeral 2 of the TUO DE LA LPAG) and the contribution of the offender to its clarification, established in article 26, literals a) and b) of the SANCTIONS REGULATIONS, it must be indicated that AUTOPLAN EAFC did not present defenses. Consequently, it has not expressly recognized the commission of the infractions under evaluation, nor has it contributed to their clarification;

78. Likewise, in accordance with what was determined in article 257, numeral 1 of the TUO DE LA LPAG and article 27 of the SANCTIONS REGULATIONS, it is not observed that in the present case any of the circumstances that constitute exempting conditions of responsibility have been configured;

79. From what has been stated, it is concluded that AUTOPLAN EAFC has committed two (2) infractions classified as serious in Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATIONS, regarding which it corresponds to impose on AUTOPLAN EAFC a sanction corresponding to the infractions classified as serious in accordance with article 38° of the SANCTIONS REGULATIONS; therefore, it would correspond to apply a fine greater than 25 UIT and up to 50 UIT or the prohibition of forming new groups;

80. However, taking into account the sanctioning criteria analyzed, and in application of the Principle of Reasonableness contemplated in article 248, numeral 3 of the TUO DE LA LPAG which states that the sanctions to be applied must be proportional to the non-compliance classified as an infraction, it must be considered that regarding the infractions under charges, it has not been evidenced that these have had repercussion on the market. Likewise, it has not been verified that the managing company had intent in its actions regarding this. Likewise, it has been verified that AUTOPLAN EAFC is not a recidivist regarding the infractions;

81. Additionally, regarding the infraction recorded in literal b of consideration 15, it has not been evidenced that this has caused a quantifiable economic damage to MR.1. It has also not been verified that the managing company has obtained any illicit benefit with the commission of the infractions subject of the present administrative sanctioning procedure;

82. Consequently, In this sense, in accordance with what is provided in the last paragraph of article 25 of the SANCTIONS REGULATIONS, this Adjunct Superintendence considers that it corresponds to impose on AUTOPLAN EAFC a sanction of fine applicable to minor infractions, in accordance with what is established in the

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the recovery and consolidation of the Peruvian economy" Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml
article 39 of the SANCTIONS REGULATIONS, for the infractions under evaluation in the present administrative sanctioning procedure;

83. Being in accordance with what is provided by articles 32°, numeral 16, of the Organization and Functions Regulation of the SMV, approved by Supreme Decree Nº 216-2011-EF and its modifications;

RESOLVES:

Article 1º.- Declare that Autoplan Collective Fund Managing Company S.A. has committed one (01) serious infraction typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, approved by SMV Resolution N°035-2018-SMV/01, for failing to comply with the collective fund management contract, since it failed to resolve the CONTRACT of MR.1 upon verifying three (3) consecutive unpaid installments and as a consequence of the above, did not consider the member in a quarterly draw of contribution return.

Article 2º.- Declare that Autoplan Collective Fund Managing Company S.A. has committed one (01) serious infraction typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation, approved by SMV Resolution N°035-2018-SMV/01, for failing to comply with the collective fund management contract regarding the legal deadline established to respond to complaints.

Article 3º.- Sanction Autoplan Collective Fund Managing Company S.A. with a fine of six (6) Tax Units (UIT), valid at the time of effective payment of the fine for the commission of the infractions referred to in articles 1° and 2° of this resolution.

Article 4º.- This resolution does not exhaust the administrative route, unless it is consented, and may be challenged before the Adjunct Superintendent of Prudential Supervision by filing a reconsideration or appeal appeal, presented before the same, within the deadline of fifteen (15) business days counted from the day following its notification.

Article 5º.- In the event that this resolution is not subject to challenge through reconsideration or appeal appeal within the deadline of fifteen (15) business days of being notified and remains consented, it must be published on the Institutional Page of the SMV in the Unique Digital Platform of the Peruvian State, in observance of what is provided by numeral 1, article 7° of the Policy on dissemination of normative projects, general character legal norms, early agenda and other administrative acts of the SMV, approved by SMV Resolution Nº 014-2014-SMV/01 and by what is provided in article 14° of the Sanctions Regulation, approved by SMV Resolution N° 035-2018-SMV/01.

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the recovery and consolidation of the Peruvian economy" Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

Article 6º.- Transcribe this resolution to Autoplan Collective Fund Managing Company S.A. and to MR.1.

Register, communicate and publish.

Omar Gutiérrez Ochoa
Adjunct Superintendent
Adjunct Superintendence of Prudential Supervision

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the recovery and consolidation of the Peruvian economy" Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

ANNEX – DENOMINATIONS

Person	Denomination
Carlos Eliseo Infante Saavedra	MR.1
infanteajuancarlos@gmail.com	EMAIL1
Yadira Castillo Pizarro	OFFICIAL1