Regulatory Alerts2017-12-24
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Law No. 27649: Law Amending Legislative Decree No. 861, Securities Market Law
The document compiles amendments to the Peruvian Securities Market Law (Legislative Decree No. 861) and the General Companies Law (Law No. 26887) introduced by Laws No. 27649, 1061, 29660, 29782, 29720, 30050, and 30708. It grants the Superintendency of the Securities Market (SMV) authority to establish special regimes for small and medium enterprises, authorize third-party service providers, and apply positive administrative silence. The text imposes financial statement disclosure obligations on non-supervised entities exceeding 3,000 Tax Units, creates the 'bursatile certificate' as a debt security, and establishes civil liability for directors in related-party transactions. It also modifies shareholder voting procedures, minority shareholder protection mechanisms, and sanctions for market manipulation.
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