SMV Resolution No. 004-2024-SMV/01

Lima, 20 March 2024

WHEREAS:

File No. 2024002829 and Joint Reports No. 110-2024-SMV/06/09/12 and 355-2024-SMV/06/09/12 dated 26 January and 18 March 2024, respectively, issued by the Legal Advisory Office, the Information Technology Office and the Deputy Superintendency of Research, Development and Innovation, as well as the draft Amendment to the Regulation of the MVNet System and SMV Virtual (hereinafter, the “PROJECT”);

CONSIDERING:

That, in accordance with Article 1 of the Single Concorded Text of the Organic Law of the Superintendency of the Securities Market – SMV, approved by Legislative Decree No. 26126 and its amendments (hereinafter, Organic Law of the SMV), the purpose of the SMV is to safeguard 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, in accordance with subsection b) of Article 5 of the Organic Law of the SMV, the Board of Directors of the SMV has the power to approve the regulations of the securities market, products market and collective funds system, as well as those to which natural or legal persons subject to its supervision must adhere;

That, by CONASEV Resolution No. 008-2003-EF/94.10, the first Regulation of the MVNet System was approved, which established the mandatory use of said system for the transmission and exchange of documents and information; as well as the use of digital signatures; and, by SMV Resolution No. 010-2013-SMV/01, the so-called Regulation of the MVNet System and SMV Virtual was approved, which regulates the use of the MVNet System and SMV Virtual for the provision of digital services and the exchange of information through digital platforms between natural and legal persons with the Superintendency of the Securities Market – SMV and adapts the MVNet System to the provisions of the Regulation of the Law on Signatures and Digital Certificates Law No. 27269, approved by Supreme Decree No. 052-2008-PCM;

That, on 16 September 2018, Legislative Decree No. 1452, Legislative Decree amending Law No. 27444, Law on General Administrative Procedure, was published in the Official Gazette El Peruano, which incorporated a thirteenth complementary transitory provision to the Single Ordered Text of Law No. 27444, Law on General Administrative Procedure, approved by Supreme Decree No. 004-2019-JUS. Said provision establishes that the electronic boxes existing at the time of publication of said Legislative Decree maintain their operation and, to the extent compatible with their functioning, are adapted to the provisions of the Supreme Decree of the Presidency of the Council of Ministers that approves the criteria, conditions, mechanisms and deadlines for the gradual implementation in public entities of the single electronic box;

That, by Superintendent Resolution No. 092-2020-SMV/02, the current Regulation of the MVNet System and SMV Virtual (hereinafter, the Regulation) was approved, which, considering the health situation that the country was going through, which had been declared in a National Health Emergency and in a National State of Emergency, introduced some facilities for the exchange of information with the SMV;

That, Law No. 31170 “Law that provides for the implementation of digital filing desks and electronic notifications” (hereinafter, Law No. 31170), establishes that public administration entities implement digital services of digital filing desk and electronic notification, which must respect the principles, rights and guarantees of due process, without affecting the right to defense and equality of the parties, as well as the provision of digital public services indicated in Article 18 of Legislative Decree No. 1412, Legislative Decree approving the Digital Government Law;

That, although the REGULATION already establishes that the digital platforms, MVNet System and SMV Virtual, constitute the filing desk of the Superintendency of the Securities Market - SMV, which allows the reception of writings, requests and electronic documents sent to the SMV by persons in general, whether natural or legal; the PROJECT, among others, specifies that said filing desk has the status of digital filing desk of the SMV, thus adapting to the provisions established in Article 3 of Law No. 31170;

That, likewise, in accordance with the provisions of Articles 5 and 6 of Law No. 31170, the Project expressly states that the validity of the identity and digital signature of the officials who issue administrative acts by the SMV, contained in electronic documents, is guaranteed by the corresponding digital certificates, as has been the case in the SMV for more than twenty (20) years;

That, on the other hand, the PROJECT incorporates as a functionality of the SMV Virtual, the Agile Digital Filing Desk, which aims to simplify its use for persons who wish to initiate their procedure without prior authentication, in addition to providing the possibility of notification by email or electronic box;

That, like the digital filing desk, electronic notification via electronic box is a digital service regulated by the REGULATION, and which is executed through the MVNet System and SMV Virtual, having as its conceptualization center the term digital domicile;

That, in that sense, through the PROJECT, the SMV adapts to the provisions of Law No. 31736, which regulates administrative notification by electronic mailbox (hereinafter, Law No. 31736), and to Law No. 31170, on electronic notification, defining certain terms specific to this type of notification, such as electronic mailbox, electronic notification, acknowledgment of receipt, proof of acknowledgment of receipt, proof of electronic notification, and email;

That, furthermore, the PROJECT adapts the procedures for the validity and effectiveness of notification via electronic mailbox to the requirements introduced by Law No. 31736, such as communication to the administered party's email and mobile phone of the notification validly made by the SMV, the automatic generation of the proof of electronic notification once the administrative notification is deposited in the electronic mailbox, and the proof of acknowledgment of receipt;

That, likewise, the PROJECT adapts to the schedules and deadlines established by Law No. 31736, regarding the times at which notification may be made, and the deadline the administered party has to access their electronic mailbox, once the administrative act or proceeding has been deposited, for the production of legal effects;

That, on the other hand, the PROJECT eliminates the mandatory use of SMV Virtual for persons who are going to initiate a procedure to obtain their authorization of organization and operation, as well as for legal entities that are going to initiate a procedure for the registration of their securities or of a program in the Public Registry of the Securities Market (hereinafter, RPMV), and they may optionally submit the corresponding application through SMV Virtual or the Agile Digital Document Submission Desk;

That, on 24 January 2024, the Multisectoral Commission for Regulatory Quality declared that the SMV is not required to carry out the Ex Ante RIA for the approval of the PROJECT, under the provisions of numeral 18 of subsection 28.1 of article 28 of the Regulation that develops the Institutional framework governing the Regulatory Quality Improvement Process and establishes the General Guidelines for the application of the Ex Ante Regulatory Impact Analysis, approved by Supreme Decree No. 063-2021-PCM;

That, the Project was disseminated in public consultation on the Institutional Page of the Superintendency of the Securities Market on the Single Digital Platform of the Peruvian State (www.gob.pe/smv), for thirty (30) calendar days, in accordance with the provisions of SMV Resolution No. 001-2024-SMV/01, published on 4 February 2024 in the Official Gazette El Peruano, during which period comments and suggestions were received that made it possible to enrich the published regulatory proposal; and,

In accordance with the provisions of literal a) of article 1 and literal b) of article 5 of the Organic Law of the SMV; and its amendments, as well as with what was agreed by the Board of Directors of the SMV in its session of 19 March 2024;

IT IS RESOLVED:

Article 1.- To approve the Regulation of the MVNet System and SMV Virtual, which consists of three (3) Titles, thirty-nine (39) articles, two (2) Final Complementary Provisions and one (1) Transitional Complementary Provision, the text of which is as follows:

REGULATION OF THE MVNET SYSTEM AND SMV VIRTUAL

TITLE I OF THE GENERAL PROVISIONS

Article 1.- Purpose

1.1 This regulation governs the use of the Peruvian Securities Market System - MVNet System and SMV Virtual for the provision of digital services and the exchange of information through digital platforms between natural and legal persons and the Superintendency of the Securities Market - SMV.

1.2 Legal entities are obliged to use the MVNet System from the moment the SMV grants them authorization to operate, and issuers, from the moment they register their securities or a program in the Public Registry of the Securities Market. Hereinafter, said legal entities and issuers are referred to as "Obligated Entities".

1.3 Citizens, public institutions, private sector companies, suppliers and any person not obliged to use the MVNet System may use SMV Virtual. Hereinafter, these persons are referred to as "SMV Virtual Users".

1.4 The digital platforms called MVNet System and SMV Virtual constitute the Digital Document Submission Desk and the Electronic Mailbox of the SMV.

1.5 The Agile Digital Document Submission Desk is an extension of the document reception functionality of SMV Virtual, through which both natural and legal persons may initiate procedures before the SMV with simplified access requirements, offering the option of a response via email or Electronic Mailbox.

Article 2.- Terms

2.1 For the purposes of this Regulation, the terms set out below have the following scope:

a) Acknowledgment of Receipt: Procedure that records the receipt and validation of the personal electronic notification received in the Electronic Mailbox, in such a way that it prevents rejection of the delivery and gives certainty to the SMV that the delivery and receipt have taken place on a determined date and time through the Electronic Time Stamp.

b) Log: File containing the chronological record of all events carried out in the MVNet System and in SMV Virtual, specifying the date, time, type of transaction, Obligated Entity or SMV Virtual User, person accessing the systems on their behalf, if applicable, and event carried out.

c) Exchanges: The stock exchanges.

d) Electronic Mailbox: It is the electronic mailbox assigned to Obligated Entities or SMV Virtual Users, created in the MVNet System or SMV Virtual, whose purpose is the secure and reliable processing of notifications within the framework of administrative acts and administrative proceedings carried out by the SMV. The Electronic Box is established as a mandatory digital domicile.

e) Acknowledgement of Receipt: It is the document that, as a response, is automatically generated by the MVNet and SMV Virtual Systems immediately when the Obligated Entities or the Users of the SMV Virtual access the message deposited in the electronic box, which constitutes confirmation of its receipt. The acknowledgement has an Electronic Time Stamp to prove the date and time of access to the message notified through the MVNet and SMV Virtual System.

f) Electronic Notification Acknowledgement: It is the document that, as an immediate response, is automatically generated by the MVNet and SMV Virtual System for the deposit of a message in the Electronic Box assigned to the Obligated Entities or the Users of the SMV Virtual. The acknowledgement has an Electronic Time Stamp to prove the date and time of deposit in the Electronic Box of the act or proceeding notified through the MVNet and SMV Virtual System.

g) Electronic Mail: It is the personal electronic mail indicated by the Obligated Entities and the Users of the SMV Virtual for the various purposes contemplated in the MVNet and SMV Virtual System.

h) Digital Document: It is the basic structured unit of recorded information, published or not, capable of being generated, classified, managed, transmitted, processed or preserved by a person or an organization in accordance with its functional requirements, using digital technologies.

i) Information Exchange: Sending, transmission, and/or reciprocal receipt of information, documents and/or files between the SMV and the Obligated Entities or the Users of the SMV Virtual.

j) Structured Information: Information contained in a file that has a structure and characteristics defined by the SMV in the Technical Specifications for the submission of information.

k) Unstructured Information: Information not prepared under the standards indicated in the preceding paragraph, contained in a file generated by word processors, spreadsheets and others.

l) Law: Securities Market Law, Legislative Decree No. 861 and its amendments or the rule that replaces it.

m) Electronic Notification: It is the form of communication through which the SMV informs the Obligated Entities or the Users of the SMV Virtual of the different administrative acts or proceedings of the corresponding procedure, making use of the Electronic Box of the Obligated Entities and Users of the SMV Virtual. It has the same legal validity and effectiveness as notifications made by physical means.

n) OTI: Information Technology Office of the SMV or the one that replaces it.

o) Securities Market Portal: Institutional Page of the Superintendency of the Securities Market on the Single Digital Platform of the Peruvian State.

p) Registry: The Public Registry of the Securities Market and/or Special Registry of other entities under the competence of the SMV.

q) Electronic Time Stamp: Value-added service by which a certain date and time is granted to an electronic transaction, a characteristic that

is used to set moments of receipt of information in the Electronic Box.

r) Digital Service: It is that service provided totally or partially through the Internet or other equivalent networks, which is characterized by being partially or totally automated and intensively using digital technologies and data.

s) Digital Support: CD, DVD, USB memory and other similar ones, which contain information.

t) Physical Support: Document represented on paper, which contains information.

u) SMV: Superintendency of the Securities Market.

v) TUPA: Single Ordered Text of Administrative Procedures of the SMV.

2.2 Unless otherwise mentioned, the reference to specific articles must be understood as made to the corresponding ones of this Regulation.

2.3 Hereinafter, the aforementioned terms are used in singular or plural form, without implying a change in their meaning.

Article 3.- Validity of the documentation sent by the MVNet or SMV Virtual System

The documentation sent by the MVNet System or by the SMV Virtual, is understood as validly sent to the SMV, provided that said documentation is signed by the persons established by the specific rule and, in accordance with the provisions of articles 2 and 3 of the Law of Signatures and Digital Certificates, Law No. 27269 and its Regulation, approved by Supreme Decree No. 052-2008-PCM and its amendments, or the rule that replaces them.

Article 4.- Validation of the civil servants of the SMV

The civil servants of the SMV have digital certificates that meet the requirements established in the Law of Signatures and Digital Certificates and its Regulation, which allows guaranteeing their identity and signature in the digital documents of the SMV.

Article 5.- Principles governing the exchange of information

The exchange of information via the MVNet and SMV Virtual System is governed by the general principles of secure access to digital public services, established in the Regulation of the Law of Signatures and Digital Certificates, as well as by the principles of veracity, technological neutrality, information quality, publicity and transparency in operations.

Article 6.- Responsibility for the content of the transmitted information

The Obligated Entities and the Users of the SMV Virtual are responsible for the veracity of the content of the information sent through the MVNet System and the SMV Virtual, respectively. Likewise, the SMV is responsible for the veracity of the information it notifies through both systems.

Article 7.- Schedules

7.1 The sending of information or documentation, by the Obligated Entities and the Users of the SMV Virtual and by the SMV, through the MVNet or SMV Virtual System, may be carried out from Monday to Sunday, during the twenty-four (24) hours of the day.

7.2 Electronic Notifications are made from Monday to Friday during the SMV's public service hours. If the Electronic Notification is made outside of said hours, it is considered notified for its purposes on the next business day at the first hour of public service.

Article 8.- On the preservation of Digital Documents

The SMV, in order to guarantee the preservation of the information and Digital Documents existing in the MVNet System or SMV Virtual, converts the aforementioned documents to microforms and preserves them in digital microarchives, observing for this purpose the provisions of Legislative Decree No. 681 and complementary and regulatory norms.

Article 9.- On the availability of information and documentation

The Obligated Entities and Users of the SMV Virtual can access online the information and documentation sent or received by them, as well as the digital charges and Electronic Notifications existing in the MVNet System and SMV Virtual, up to four (4) years after the date of their submission or receipt. At the end of said period, they can access them through the services indicated in the TUPA.

Article 10.- On the minimum technological requirements

The Obligated Entities and Users of the SMV Virtual must have the minimum technological requirements that allow the use of the MVNet System and the SMV Virtual, which are communicated by the OTI through a circular to the Obligated Entities and published on the main page of the MVNet System and SMV Virtual.

TITLE II OF THE MVNET SYSTEM

CHAPTER I GENERAL ASPECTS

Article 11.- Definition of the MVNet System

11.1 The MVNet System is a web system for the exchange of information and provision of digital services, which allows the storage of information, uses digital signature, authentication and channels for the exchange of secure and efficient information, between the Obligated Entities and the SMV.

11.2 The MVNet System allows the electronic transaction to be secure, and guarantees the following:

a) Authentication: allows determining the identity of the person who digitally signs, based on the message signed by them and to which it is linked.

b) Confidentiality: the content of the message encrypted and digitally signed cannot be read by an unauthorized person.

c) Integrity: the data message, the Digital Document or the information sent, cannot be altered accidentally or intentionally, from the beginning of the transmission by the sender, until its reception by the recipient.

d) Non-Repudiation: the sender of the data message, the Digital Document or the digitally signed information, cannot deny having transmitted it nor the recipient having received it.

Article 12.- Legal-informatic applications incorporated in the MVNet System

The following legal-informatic and functional applications are integrated in the MVNet System:

a) Access control;

b) Digital signature of the documents to be sent by the Obligated Entities and the SMV;

c) Secure telematic transmission of information and documents;

d) Web forms;

e) Generation and delivery of digital charges with the Electronic Time Stamp;

f) The Electronic Mailbox of the Obligated Entities and the SMV; and,

g) Auditability and availability of the log in the MVNet System.

Electronic payment will be integrated as an optional functionality for the Obligated Entities.

Article 13.- On the options enabled in the MVNet System

The MVNet System offers the following options to the Obligated Entities:

a) For mandatory submission information.- contains all the options referring to the sending of information that, according to the regulatory framework, the Obligated Entities must submit to the SMV.

b) For the use of procedures and services - TUPA.- contains the options for the processing, through the MVNet System, of a service or a procedure that culminates in an administrative act.

c) For consultations of Electronic Notifications.- contains the electronic inbox for sending notifications and the response of the Obligated Entity to them, which must be made with information of the file number and mention of the type of document notified. This menu can be exported in a readable file on a daily, weekly or monthly basis.

d) For knowledge of administrative sanctioning procedures.- the Electronic Mailbox contains the respective Electronic Notifications associated with the administrative sanctioning procedure. The Obligated Entity receives the Electronic Notification and presents its defenses in the same electronic file number.

e) For the processing of specific and general requests.- contains an option to send requests that are not contemplated in the previous options.

f) For regularization or additional documentation.- contains the inbox for sending regularized documents, or complementary to an existing electronic file.

Article 14.- Technical manager of the MVNet System

14.1 The technical manager of the Obligated Entity is responsible for coordinating with the authorized personnel of their entity the use of the MVNet System, in order to resolve technological aspects associated with the use of the MVNet System, such as: installation, configuration, digital certificate, software of the secure storage device, digital signature software, characteristics of the documents, among others, that contribute to the proper use of the system.

14.2 The technical manager, titular and alternate, must be designated by the General Manager of the Obligated Entity or whoever acts in their place, within three (3) days following the obtaining of the operating authorization or the registration, for the first time, of their securities or of an issuance program. Any designation or change must be communicated to the OTI, at the latest on the business day following its occurrence, requesting training in the use of the referred system. The technical officer, principal or alternate, is trained by the OTI, or by whomever the SMV determines.

Article 15.- Training registry of the MVNet System

15.1 Persons authorized by the Obligated Entity to access the MVNet System on its behalf must be duly trained in the use of the functionalities of the MVNet System.

15.2 Within three (3) days following the obtaining of the operating authorization or the registration, for the first time, of its securities or of an issuance program, and in all cases in which the persons authorized by the Obligated Entity make use of the MVNet for the first time, they must register the training request in the MVNet System. The corresponding training is provided by the OTI, or by whomever the SMV determines, without this implying that it is exempted from making use of the MVNet System. On the main page of the MVNet System it can be verified whether the person has been trained.

15.3 In the event that any change or adjustment to the MVNet System occurs, the Obligated Entity that deems it necessary may request the corresponding training from the OTI.

CHAPTER II OF THE OBLIGATED ENTITIES

Article 16.- Enforceability of the obligation to use the MVNet System

16.1 The entity that initiates an operating authorization procedure or registration in the Registry of its securities or a program, for the first time, must present, in addition to the requirements established by the pertinent regulations, a copy of the digital certification services contract entered into with a duly accredited Registration or Verification Entity or Certification Entity, in accordance with the provisions of the Law on Digital Signatures and Certificates and its Regulation, or if this is not possible, a copy of the payment receipt for the acquisition of the digital certification service.

16.2 To make use of the MVNet System, the Obligated Entities must register in said system and accept the Terms of Use of the MVNet System.

Article 17.- On the mandatory use of digital certificates

17.1 The sending of information and documentation through the MVNet System mandatorily requires the digital signature of at least one representative of the Obligated Entity, unless the type of information requires more than one digital signature under the regulations. The digital certificate is personal and non-transferable. The Obligated Entity is responsible for the information and documentation it sends through the MVNet System.

17.2 The representatives who have the necessary powers to sign information and documentation that the Obligated Entities send to the SMV must be duly registered in the record that the entity maintains in the Registry.

17.3 On the main page of the MVNet System, the minimum service characteristics that the digital certificate provider company must provide to the Obligated Entity are published.

Article 18.- Material events and reserved information

18.1 The information qualified and communicated by the Obligated Entity as a material event is published under the responsibility of the Obligated Entity and of the Stock Exchange Representative, principal or alternate, or of the general manager. With the submission of the communication, the information is instantly and automatically disseminated on the Securities Market Portal and on the websites of the respective Stock Exchanges or of the corresponding Centralized Negotiation Mechanism Administrator.

18.2 In the case of information that the Obligated Entity qualifies as reserved information, it must be sent to the Superintendent of the Securities Market, through the option established for reserved information, in accordance with the procedure established in the Regulation of Material Events and Reserved Information, approved by SMV Resolution No. 005-2014-SMV-01 and its amendments, or the norm that replaces it.

CHAPTER III OF THE INFORMATION THAT THE OBLIGATED ENTITIES SEND TO THE SMV

Article 19.- Use of the MVNet System as the sole means

All information and documentation that the Obligated Entities present to the SMV, after they have accepted the Terms of Use of the MVNet System, must be digitized or converted to Digital Support for its submission through the MVNet System, except for the exceptions provided in article 26.

Article 20.- Digital Receipts MVNet System

20.1 The acknowledgment of receipt that the MVNet System provides as an immediate response to each submission of information by the Obligated Entities is called a digital receipt of the MVNet System. Such receipts are digitally signed by the SMV.

20.2 In the case of Obligated Entities that send their information or documentation through digital platforms integrated into the MVNet System under automatic processes regulated by the SMV, proof of the digital receipt of the respective submission can only be obtained upon consultation in the system. A digital receipt of reception is generated for all Unstructured Information received through the MVNet System.

20.3 For Structured Information, a digital receipt of reception and validation of compliance with the technical specifications is generated when it is received through the MVNet System.

20.4 In cases of presentation of information in Physical Support, a digital receipt of reception is also issued.

Article 21.- Digital receipts as evidentiary means

21.1 In the event of a conflict regarding the timeliness of compliance with the obligations to inform the SMV, the Obligated Entities may use the digital receipts of reception, or of reception and validation, as the case may be, issued by the MVNet System, as evidentiary means of compliance with their obligation.

21.2 Additionally, to prove the timeliness with which the Obligated Entities complied with their information obligations, the SMV provides the log of the MVNet System, in which all events that the Obligated Entities and the SMV carry out through the MVNet System are recorded.

Article 22.- On the single digital window

22.1 The MVNet System constitutes a single window for the sending of joint information to the SMV and to the Stock Exchanges or Administrator of the corresponding Centralized Negotiation Mechanism by the Obligated Entities. The information is understood to be sent to both institutions at the same time, through the sending of the aforementioned information via the MVNet System.

22.2 Through this channel, financial information, material events, structured formats, information within the framework of public offerings of securities, information required by the regulation of the securities market, and any other information that an Obligated Entity must submit to both institutions must be sent.

22.3 In cases where the Obligated Entity submits the information in Physical Support, the SMV also acts as a single window. As soon as the SMV's Document Processing registers the information in the MVNet System, it is automatically sent to the Stock Exchanges or Administrator of the corresponding Centralized Negotiation Mechanism.

CHAPTER IV ON THE INFORMATION THAT THE SMV SENDS TO THE OBLIGATED ENTITIES

Article 23.- Electronic Mailbox of the MVNet System

23.1 The Electronic Mailbox of the SMV and of the Obligated Entities are hosted on the secure server of the MVNet System, which is accessed from the Securities Market Portal.

23.2 The SMV assigns an Electronic Mailbox to each of the Obligated Entities.

Article 24.- Electronic Notifications via the MVNet System

24.1 All information that the SMV sends to the Obligated Entities must be sent through the MVNet System to their respective Electronic Mailbox.

24.2 The MVNet System sends the Obligated Entities an alert message to their Electronic Mail and to their cell phone, registered for such purpose, which constitutes a requirement for the validity of the Electronic Notification. It is the responsibility of the Obligated Entities to keep the registered Electronic Mail and cell phone operational, therefore, in case of a change of any of these, they must immediately notify the SMV. As long as the communication with the new Electronic Mail or cell phone is not received, the alert messages sent to those are fully valid.

24.3 When circumstances warrant it or when there is an impossibility of carrying out the Electronic Notification through the MVNet System, the other notification modalities provided for and in the order of precedence established by article 20 of the Single Ordered Text of Law No. 27444, General Administrative Procedure Law, approved by Supreme Decree 004-2019-JUS, or norm that modifies or replaces it, may be used.

24.4 If the operation of the MVNet is interrupted, the OTI must publish a communiqué on the Securities Market Portal, specifying the date, time and duration of the system failure that makes it impossible for the SMV to carry out Electronic Notifications using the MVNet System. In that case, other notification modalities may be used in accordance with the provisions of the preceding paragraph.

Article 25.- Moment and effectiveness of Electronic Notifications

25.1 The Electronic Notification procedure is initiated by the SMV with the deposit of the administrative act or administrative action in the Electronic Mailbox of the Obligated Entities. The MVNet System automatically generates the Electronic Notification Certificate. Likewise, the SMV communicates to the electronic mail and cell phone of the Obligated Entities registered for such purpose, the data of the validly effected notification.

25.2 The Obligated Entities must access the message deposited in said Electronic Mailbox during the first five (05) business days following said deposit, with which it is understood that they confirm its receipt, generating the MVNET System automatically the Acknowledgement of Receipt Certificate. The Electronic Notification has legal effects at the time it is recorded as having been received by the Obligated Entity, in accordance with the date and time recorded in the Acknowledgement of Receipt Certificate self-generated by the MVNet System.

25.3 However, if the Obligated Entity does not access the message deposited in its Electronic Mailbox within a period of five (5) business days from the Electronic Notification being made, it has legal effects from the business day following the expiration of this period.

25.4 Exceptionally, as determined by the organs or organic units of the SMV, administrative acts or actions may be notified in cases where greater speed is required in the processing of the notification, through personal notification, in addition to notification via electronic mailbox. In these cases, the notification that first becomes effective, in accordance with law, shall prevail.

CHAPTER V ON CONTINGENCIES TO THE USE OF THE MVNET SYSTEM

Article 26.- Assumptions of exception to the use of the MVNet System

The use of the MVNet System is mandatory by the Obligated Entities; however, the Obligated Entities are excepted from using it, for the sending of information, in the following situations:

a) When the digital certificate of the person authorized to digitally sign the documents, on behalf of the Obligated Entity, has expired.

b) When the personal or laptop computer of the person authorized to digitally sign the documents, on behalf of the Obligated Entity, is disabled for technological reasons of installation, configuration or application of information security policies of the Obligated Entity.

c) When the National State of Emergency or another analogous one has been declared that prevents the Obligated Entities from having availability of the digital certificate.

d) When the information to be sent to the SMV exceeds the maximum limit of the Digital Document to be transmitted through the MVNet System. This limit will be published on the main page of the MVNet System and communicated by the OTI through a circular.

e) When the Obligated Entity is unable, due to technical problems, to use all the functionalities of the MVNet System for the submission of information and documentation, and it is considered that such situation will persist for a period greater than three (3) business days.

f) When unforeseen technical problems or issues arise, attributable to the SMV, that affect the availability of the MVNet System service.

Article 27.- Use of the contingency MVNet System

27.1 In the case referred to in subsection a) of article 26, the legal representative or stock market representative of the Obligated Entity, as the case may be of the person whose digital certificate has expired, through the option provided by the MVNet System, may request that the Contingency MVNet System be enabled for them. In response, the system automatically verifies that the digital certificate has expired and enables them, exceptionally, to submit for a period of twenty-four (24) hours information or documentation with the electronic signature (user and password), without the digital signature (digital certificate).

27.2 If the case provided for in subsection b) of article 26 occurs, the Obligated Entity must request the OTI, immediately, through the option provided by the MVNet System, that the Contingency MVNet System be enabled for it, attaching the corresponding support, which may be the screenshot of the screens that evidence the technical problems or issues that arose. The OTI, after verification, determines the contingency period in which the Obligated Entity may send information by electronic signature (user and password).

27.3 In the case referred to in subsection c) of article 26, the OTI communicates through the MVNet System and by circular to the Obligated Entities, the conditions of use of the contingency MVNet System, and other conditions related to the application of this case.

27.4 In the preceding cases, by exception, the obligation to submit is deemed fulfilled on the date of submission of the information with the corresponding electronic signature(s). Without prejudice to this, the Obligated Entities in the cases a) and b) of article 26 have a maximum period of five (5) business days to regularize the submission of information. The system gives them the option to sign the same information submitted digitally.

Article 28.- Delivery of information in the SMV Document Processing Office

28.1 In the case referred to in subsection e) of article 26, the Obligated Entity must communicate to the OTI, by email atencionsmv@smv.gob.pe, or

the email address that OTI informs for this purpose by communication in the MVNet System and by circular to the Obligated Entities, with the corresponding support, the technical problems that prevent it from using all the functionalities of the MVNet System, which determines the contingency period of the MVNet System.

28.2 In the case provided for in subsection f) of article 26, the SMV communicates to the Obligated Entities through the Stock Market Portal and/or email, that the MVNet System is not available.

28.3 The Obligated Entities that are prevented from sending their information or documentation, because they are in the cases referred to in subsections d), e) and f) of article 26, must submit it in the SMV Document Processing Office in Physical or Digital Support.

28.4 In the case of subsections e) and f) of article 26, according to the technical feasibility of the Obligated Entity or SMV; respectively, the SMV may establish an alternative digital means.

28.5 The presentation in Physical Support by the SMV Document Processing Office by the Obligated Entities implies the acceptance and conformity of the integrity and identity of the digitized document with respect to the document presented.

28.6 The Obligated Entities must attach the “Authorization Form for the presentation of Information in Physical Support”, with which the SMV Document Processing Office proceeds to provide the corresponding digitization service.

28.7 The presentation through the SMV Document Processing Office in Digital Support by the Obligated Entities must be accompanied by a letter, as a sworn statement, indicating: the file name, size, modification date and file type, such as: document, audio, video or any other.

28.8 For both types of presentation, in Physical or Digital Support, the documents must be legible and the Obligated Entities assume responsibility for the veracity of the content of the information and for the consequences of its disclosure, as well as the acceptance and conformity.

28.9 In cases where material events occur, they must additionally attach the “Material Events Typification Form”.

28.10 In the cases contemplated in subsections e) and f) of article 26, if it involves the presentation of Structured Information, which constitutes a material event, the information may only be presented in a legible manner through the SMV Document Processing Office, and the submission must be regularized, through the presentation of the Structured Information, when the contingency period established by the OTI ends, in accordance with the provisions of the first paragraph of this article or the MVNet System service has been restored in the case of subsection f) of article 26.

28.11 Only for the presentation of material events by this means, the term of distance set by the Judicial Branch is taken into account.

28.12 Likewise, exceptionally, said term may be considered in the case of the cases set forth in subsections c), e) and f) of article 26, if the contingency occurs on the deadline for presentation of information to the SMV.

28.13 Submission through the SMV's Document Processing service is made only during the SMV's public service hours, and must be subject to the normal compliance with the deadlines and dates established in the applicable provisions for the submission of documents and information that they are obligated to provide, except as indicated in the two preceding paragraphs.

TITLE III OF THE VIRTUAL SMV

Article 29.- Definition of the VIRTUAL SMV

29.1 The Virtual SMV is the web-based information exchange system that allows the storage of information, guarantees the confidentiality, integrity and non-repudiation of transactions through the use of electronic signature components, authentication and secure channels.

29.2 Users of the Virtual SMV must submit through this means to the SMV all information and documentation electronically signed. The SMV uses this same means to send to such users any information or documentation digitally signed.

Article 30.- Legal-informatic applications incorporated in the Virtual SMV

The following legal-informatic and functional applications are integrated in the Virtual SMV:

a) Access control;

b) Electronic signature of documents to be sent by Users of the Virtual SMV and SMV;

c) Secure telematic transmission of information and documents;

d) Web forms;

e) Generation and delivery of digital acknowledgments of receipt with Electronic Time Stamp;

f) The Electronic Mailbox of the users of the Virtual SMV System and of the SMV; and,

g) Auditability and availability of the log in the Virtual SMV.

Electronic payment will be integrated as an optional functionality for Users of the Virtual SMV.

Article 31.- Acceptance of use of the Virtual SMV

31.1 To make use of the Virtual SMV, users must register in said system and accept the Conditions of Use of the Virtual SMV. In the case of its functionality called Agile Digital Document Desk, only if you choose for the response to be sent to you through Electronic Mailbox, you must accept the respective Conditions of Use.

31.2 Users of the Virtual SMV that are legal entities will be assigned a user and password for authentication and submission of information. In the event that the SMV has signed an Agreement with other entities that possess secure authentication means, legal entities may be authorized to use them for access to the system.

31.3 In the case of Users of the Virtual SMV that are natural persons, the automatic verification mechanism uses the data appearing on the DNI presented by the person with the information obtained from the National Registry of Identity and Civil Status - RENIEC through the State Interoperability Platform - PIDE. After that, a user and password are assigned for authentication and submission of information through the Virtual SMV. Additionally, the user's image may be incorporated into the automatic verification mechanism. In the event that the natural person possesses an electronic DNI issued by RENIEC and has the reading device, they may use said document for authentication in the Virtual SMV.

31.4 The use of the Virtual SMV implies that the user authorizes the SMV to send any information through said means.

Article 32.- Information that Users of the Virtual SMV submit to the SMV

Users of the Virtual SMV may send information or documents to the SMV within the framework of:

a) The procedures established in the TUPA, prior to the granting of the authorization of operation and the registration of their securities or program in the Registry.

b) The procedures contained in the Single Ordered Text of Law No. 30225, State Contracting Law, approved by Supreme Decree 082-2019-EF and its Regulation approved by Supreme Decree No. 344-2018-EF and its amendments or substitute norms.

c) The procedures contained in the norms issued by the SMV or other norms under the competence of the SMV, other than those set forth in literal a).

Article 33.- Digital acknowledgment of receipt Virtual SMV

33.1 The digital acknowledgment of receipt Virtual SMV is the acknowledgment of receipt that, as an immediate response, the Virtual SMV issues regarding the submission of information by Users of the Virtual SMV. Said acknowledgments are digitally signed by the SMV.

33.2 A digital acknowledgment of receipt is generated for all Unstructured Information received through the Virtual SMV.

33.3 For Structured Information, a digital acknowledgment of receipt and validation is generated when it is received through the Virtual SMV, and once it has been processed and complies with all technical requirements.

33.4 In cases of submission of information in Physical Support, a digital acknowledgment of receipt and, where applicable, of validation is also issued.

Article 34.- Of the digital single window

34.1 The Virtual SMV constitutes a single window for Users of the Virtual SMV to send any information to the SMV and, if applicable, simultaneously to the respective Exchange or Administrator of the corresponding Centralized Negotiation Mechanism. The information is understood to be submitted to both institutions at the same time through its submission via the Virtual SMV.

34.2 In cases of submission of information in Physical Support, the SMV also acts as a single window, registers and sends the information to the Exchanges or Administrator of the corresponding Centralized Negotiation Mechanism, via Virtual SMV.

Article 35.- Electronic Mailbox Virtual SMV

The Electronic Mailbox of the SMV and that of the Users of the Virtual SMV are hosted on the secure server of the Virtual SMV, which is accessed from the Securities Market Portal.

Article 36.- Electronic Notifications via Virtual SMV

36.1 Every notification that the SMV sends to the Users of the SMV Virtual must be sent to the Electronic Mailbox that the SMV has provided to them, once the Users of the SMV Virtual have accepted its use, through their registration in the SMV Virtual.

36.2 The SMV Virtual sends to the Users of the SMV Virtual an alert message to their registered Electronic Mail and cell phone for such purpose, which constitutes a validity requirement of the Electronic Notification. It is the responsibility of the Users of the SMV Virtual to keep the registered Electronic Mail and cell phone operational, therefore, in the event of a change of any of these, they must immediately communicate it to the SMV. As long as the communication with the new Electronic Mail or cell phone is not received, the alert messages sent to those are fully valid.

36.3 When circumstances warrant it or when there is an impossibility of carrying out the Electronic Notification through the SMV Virtual, other modalities may be used and in the order of precedence established by article 20 of the Single Ordered Text of Law No. 27444, General Administrative Procedure Law, approved by Supreme Decree 004-2019-JUS, or norm that modifies or replaces it.

36.4 If the operation of the SMV Virtual is interrupted, the OTI must publish a communiqué on the institutional web portal specifying the date, time and duration of the system failure that makes it impossible for the SMV to carry out electronic notifications using the SMV Virtual. In that case, other notification modalities may be used, in accordance with the provisions of the preceding paragraph.

Article 37.- Moment and effectiveness of Notifications

37.1 The Electronic Notification procedure is initiated by the SMV with the deposit of the administrative act or administrative action in the Electronic Mailbox of the Users of the SMV Virtual. The SMV Virtual automatically generates the Electronic Notification Record. Likewise, the SMV communicates to the email and cell phone of the Users of the SMV Virtual, the data of the validly effected notification.

37.2 The Users of the SMV Virtual must carry out the confirmation of receipt through the Acknowledgement of Receipt Record during the first five (05) business days following the validly effected notification. The Electronic Notification takes legal effect at the time it is recorded as having been received by the User of the SMV Virtual, in accordance with the date and time recorded in the Acknowledgement of Receipt Record self-generated by the SMV Virtual.

37.3 However, if the User of the SMV Virtual does not access the message deposited in their Electronic Mailbox within a period of five (05) business days from the Electronic Notification being made, it takes legal effect from the business day following the expiration of this period.

37.4 Exceptionally, as determined by the organs or organic units of the SMV, administrative acts or actions may be notified in cases where greater speed is required in the processing of the notification, through personal notification, in addition to the notification via electronic mailbox. In these cases, the notification that first becomes effective, in accordance with law, shall prevail.

Article 38.- Exception cases to the use of SMV Virtual

The use of the SMV Virtual system is optional for all users. However, if a person chooses to initiate a procedure or process using said system, its use shall be mandatory until said procedure or process is completed.

The following situations are considered exception cases to the obligation of use of the SMV Virtual, for the sending of information, in any of the following situations:

a) When the information to be sent to the SMV exceeds the maximum transmission limit through the SMV Virtual. This limit is published on the main page of the SMV Virtual, and communicated by the OTI through a circular.

b) When unforeseen technical problems or inconveniences arise, which affect the availability of the SMV Virtual service, attributable to the SMV.

c) When the User of the SMV Virtual is unable to send the information through the SMV Virtual, for duly accredited technological reasons.

Article 39.- Delivery of information in the Document Processing of the SMV

39.1 The Users of the SMV Virtual who are impeded from sending their information or documentation, because they are in the situations indicated in article 38, must present it in the Document Processing of the SMV in Physical or Digital Support.

39.2 In the case of items b) and c) of article 38, according to the technical feasibility of the SMV or of the User of the SMV Virtual; respectively, the SMV may establish an alternative digital means.

39.3 The presentation in Physical Support through the Document Processing of the SMV by the Users of the SMV Virtual implies the acceptance and conformity to the integrity and identity of the document scanned by the Document Processing of the SMV with respect to the document presented.

39.4 The presentation through the Document Processing of the SMV in Digital Support by the Users of the SMV Virtual must be accompanied by a letter, as a sworn statement, indicating: the file name, size, modification date and file type, such as: document, audio, video or any other.

39.5 For both types of physical or digital presentation, the documents must be legible and the Users of the SMV Virtual assume responsibility for the veracity of the content of the information and for the consequences of its disclosure, as well as the acceptance and conformity.

39.6 The presentation through the Document Processing of the SMV is carried out only during the SMV's public service hours, and must be subject to the normal compliance with the established deadlines.

39.7 During said period, the term of distance set by the Judicial Branch for the computation of the deadline for the submission of the respective information is taken into account.

FINAL COMPLEMENTARY PROVISIONS

FIRST.- The MVNet System may be used as a platform for the exchange of information between the Stock Exchanges and the entities that participate in the markets under the competence of the SMV, or between the Administrator of the corresponding Centralized Negotiation Mechanism and the aforementioned entities, or between the Securities Clearing and Settlement Institution and such entities, or between the Guarantee Fund Administrator and the brokerage agents, only in those cases in which there is an agreement signed between the respective Stock Exchange and the SMV, or the Securities Clearing and Settlement Institution and the SMV, or the Guarantee Fund Administrator and the SMV. For this purpose, a substantiated request addressed to the OTI must be submitted, accepting the terms of use of the MVNet System and attaching the documentation required by the SMV.

SECOND.- The SMV uses the MVNet System for the sending of documents or administrative acts it issues related to the contributions it receives, as well as those related to the collection of fines it imposes on persons under its competence. Additionally, if applicable, it uses the SMV Virtual. In both cases, the notification is considered made in accordance with the provisions of literal b) of article 104 of the Tax Code or the norm that replaces it. It is the responsibility of the Obligated Entities and Users of the SMV Virtual to periodically check their Electronic Mailbox, in order to become aware of the notified administrative acts.

TRANSITORY COMPLEMENTARY PROVISION

SOLE.- The Obligated Entities and Users of the SMV Virtual must comply with the current regulations no later than 30 April of this year, which implies: i) giving conformity to the new Terms of Use of the MVNet System and Terms of Use of the SMV Virtual; as applicable and, ii) providing the cell phone number and email address required by the Data Format for Electronic Notifications, which will be made available to them.

Article 2.- Approve the formats of Terms of Use of the MVNet System, Terms of Use of the SMV Virtual (Legal Person), Terms of Use of the SMV Virtual (Natural Person) and the Data Formats for Electronic Notifications.

Article 3.- Publish this resolution in the Official Gazette El Peruano and on the Institutional Page of the Superintendence of the Securities Market on the Single Digital Platform of the Peruvian State (www.gob.pe/smv).

Article 4.- This resolution enters into force the day after its publication in the Official Gazette El Peruano, except for those articles referring to electronic notifications, which enter into force on 30 April of this year. The articles on electronic notifications contained in the Regulation of the MVNet and SMV Virtual System, approved by SMV Resolution No. 092-2020-SMV/01, remain in force until 29 April of this year.

Signed by: PICHIHUA SERNA Zósimo Juan
Reason: 21/03/2024 19:22:21

Zósimo Juan Pichihua Serna
Superintendent of the Securities Market

22 Electronic document digitally signed under the framework of Law No. 27269, Law of Signatures and Digital Certificates, its Regulation 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