Resolution of the Deputy Superintendent of Prudential Supervision No. 026-2025-SMV/10 — SMV — PE

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Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship Resolution of the Deputy Superintendent of Prudential Supervision SMV No. 026-2025-SMV/10 Lima, May 08, 2025 Subject: Autoplan Empresa Administradora de Fondos Colectivos S.A. is sanctioned with a fine of 01 UIT for having committed three (3) infractions: two (2) serious infractions typified in Annex XIII, numeral 2, item 2.16 of the Sanctions Regulation for failing to comply with the provisions of the collective fund administration contracts entered into with the associated investor: i) failure to remit payment receipts, and ii) failure to remit general contract conditions; and, one (1) minor infraction typified in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, for failing to remit to the associated investor the account statements corresponding to the collective fund administration contract signed in accordance with applicable regulations. Administered Entity: Autoplan Empresa Administradora de Fondos Colectivos S.A. Subject: Administrative sanctioning procedure File No.: 2024035441 The Deputy Superintendent of Prudential Supervision SEEN:
The administrative file No. 2024035441, and Report No. 1552-2024-SMV/10.3, issued by the General Superintendent of Prudential Compliance; and, CONSIDERING:

In accordance with Article 1 of Law No. 29782, Law for the Strengthening of 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;
I. FACTS

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2. On September 06, 2021, COMPLAINANT 1 signed with AUTOPLAN EAFC the “Collective Fund Administration Contract – Purchase Certificate Modality of the Autoplan Program-0002”, No. 030835, with a purchase certificate value of US$ 16,000.00 (Sixteen thousand and 00/100 US dollars) (hereinafter, CONTRACT);
3. With Letter No. 1137-2022-SMV/10.3 2 notified on March 16, 2022 (hereinafter, LETTER), AUTOPLAN EAFC was informed of the complaint filed by the COMPLAINANT, in order to submit the corresponding comments as well as the documentation and/or information requested, and it was required, among others, the following documentation and/or information:
“a. Copy of Annex 1 titled “General Conditions of the Collective Fund Administration Contract” which is an integral part of the Contract signed between its represented party and the Complainant, and the copy of the receipt of its transmission to the Complainant. (…) f. Copy of the current account statement of the COMPLAINANT, from the month of their first contribution to the date, corresponding to the signed contract. g. Receipt of the transmission of all account statements sent to the COMPLAINANT, from their entry. h. Copy of the sales receipts issued by AUTOPLAN EAFC to the COMPLAINANT for the payments made by them, as well as the copy of the receipt of their transmission to the COMPLAINANT. (…)”;
4. With the document presented on March 31, 2022, AUTOPLAN EAFC requested an extension of the deadline established by the LETTER;
5. With Letter No. 1368-2022-SMV/10.3, notified on April 01, 2022, the extension requested by AUTOPLAN EAFC was granted;
6. In response to the LETTER, on April 13 and 25, 2022, AUTOPLAN EAFC submitted its comments regarding the complaint, as well as information requested by the SMV;
7. With Letter No. 1898-2022-SMV/10.3, notified on April 27, 2022, AUTOPLAN EAFC was requested information related to the complaint;
8. Through the documents presented on October 27 and November 16, 2022, AUTOPLAN EAFC requested extensions of the deadline established by 1898-2022-SMV/10.3;
9. With Letter No. 5603-2022-SMV/10.3 and Letter No. 6021-2022-SMV/10.3, notified on November 02 and 28, 2022, respectively, the extension requested by AUTOPLAN EAFC was granted;

1 In the annex attached to this resolution, the complete data of the natural persons to whom the designations used in this resolution belong is detailed, and likewise, if applicable, their email addresses. 2 File No. 2022010580.

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10. In response to the information requests of the SMV, on December 07, 2022, AUTOPLAN EAFC submitted information related to the complaint;
11. Through Letter No. 3591-2024-SMV/10.3 notified on August 16, 2024 (hereinafter, LETTER OF CHARGES), an administrative sanctioning procedure was initiated against AUTOPLAN EAFC, charging them with some facts related to the COMPLAINANT's complaint;
12. AUTOPLAN EAFC has not presented its defenses to the administrative sanctioning procedure initiated through the LETTER OF CHARGES, up to the date of issuance of this resolution;
13. The charges formulated have been evaluated by the General Superintendent of Prudential Compliance in Report No. 1552-2024-SMV/10.3, which has been submitted to the knowledge of this Deputy Superintendence;
14. In observance of the Principle of Due Process contemplated in Article IV, item 1, numeral 1.2 of the Preliminary Title, as well as in Article 248°, numeral 2, of the Single Text of the General Administrative Procedure Law No. 27444, approved by Supreme Decree No. 004-2019-JUS (hereinafter, TUO LPAG), through Letter No. 5320-2024-SMV/10, the administrative file to which this resolution refers was made available to AUTOPLAN EAFC for review;
II. MATTERS TO BE DETERMINED
15. In the present administrative procedure, in the opinion of this Deputy Superintendence, it corresponds to determine the following:
a. Whether AUTOPLAN EAFC committed or did not commit an infraction provided for in Annex XIII, numeral 3, item 3.7 of the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01 (hereinafter, SANCTIONS REGULATION), for not having sent the account statements corresponding to its contract to the associated investor; b. Whether AUTOPLAN EAFC committed or did not commit an infraction provided for in Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, for failing to remit to the associated investor all the payment receipts corresponding to its contracts;
c. Whether AUTOPLAN EAFC committed or did not commit an infraction provided for in Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, for failing to comply with sending the general conditions of its contracts with the established requirements;
d. Whether it corresponds or not to impose a sanction on AUTOPLAN EAFC;
III. ANALYSIS
3.1. Of the applicable regulations
A. ON THE TRANSMISSION OF ACCOUNT STATEMENTS AND ASSEMBLY CALENDAR
16. Clause 10, numeral 10.4, letter l) of the CONTRACT establishes that the following are the functions and obligations of AUTOPLAN EAFC:
“10.4 FUNCTIONS AND OBLIGATIONS OF AUTOPLAN:
The following are the functions and obligations of the Administrator:

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Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship (…) l) Others provided for in the Regulation. (…)”;
17. Regarding this, Article 70 of the Regulation of the Collective Funds System and its Administrator Companies, approved by SMV Resolution No. 020-2014-SMV-01 (hereinafter, REGULATION) provides as follows:
“Article 70.- Obligation to provide periodic information to Associates The Administrator has the obligation to provide information to its Associates regarding their account statements and the Assembly calendar. When applicable, it will send information on the price variation of goods under Specific Goods Programs and other services they contract. Account statements must be sent at least with the same periodicity in which Assemblies are held. The Assembly calendar must be sent with a minimum periodicity of three (03) months. The price variation of goods under Specific Goods Programs may be included in the account statement that the Administrator sends to the Associate. The Associate's account statement must contain as a minimum the information contained in Annex 8. The modality to be used to provide the aforementioned information must be agreed upon in the Contracts. Additionally, the Administrator may use different electronic communication means that allow the Associate to be able to take adequate and timely knowledge of the respective information. In the event that email is used, this medium must guarantee non-repudiation and allow traceability of the communication”. (Underline added); B. ON THE DELIVERY OF PAYMENT RECEIPTS TO THE ASSOCIATE
18. Regarding the obligation of AUTOPLAN EAFC to remit the respective payment receipts to the associate, clause 7, numeral 7.6, of the CONTRACT establishes as follows:
“SEVENTH CLAUSE: OF PAYMENTS
(…)
7.6 Autoplan will issue the respective payment receipts in the name of the Associate, which will be sent to the address indicated by the Associate in the General Conditions of this Contract. Prior to what is stated, Autoplan must validate the payment made in the Collector Accounts and identify that it has been made for the obtaining of the Purchase Certificate.
(…)” (Underline added);
C. ON THE TRANSMISSION OF THE GENERAL CONDITIONS OF THE CONTRACT
19. Regarding the obligation of AUTOPLAN EAFC to remit the general conditions of the contract to the associate, clause third, numeral 3.2 and clause fifth, numeral 5.2, subsection 5.2.1, and clause eighteenth of the CONTRACT states as follows;
“THIRD CLAUSE: OBJECT
(…)

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3.2 The General Conditions of the Contract will contain, among others, the data of the Associate and the Group, as well as the duration of the latter and of the Contract. Likewise, the value of the Purchase Certificate, the detail of the awards, the amount of the installments to be paid, their due date, and other information required by the SMV will be recorded.
(…)
FIFTH CLAUSE: ENTRY OF THE ASSOCIATE, DURATION AND TERMINATION OF THE GROUP (…)
5.2 ACCEPTANCE OF THE ASSOCIATE
5.2.1 Once the applicant's registration is approved, they will enter the Group as an Associate, for which AUTOPLAN will send them the duly signed General Conditions of the Contract, which will contain the Associate code with the identification of the Program to which they belong, the Group, the position in the Group and its sequence within the position”.
(…)
EIGHTEENTH CLAUSE: CORRELATION OF DOCUMENTS
The General Conditions of the Contract form an integral part of the latter, so in both documents the same identification number will be recorded in the upper right margin. In this sense, the signing of the General Conditions of the Contract will imply the Associate's agreement with respect to the terms and conditions contained in the Contract, which the Associate declares to have received, read and understood, in accordance with what is established in Clause Third and Seventeenth of this document”;
3.2. Of the charges formulated
A. ON THE DELIVERY OF ACCOUNT STATEMENTS TO THE ASSOCIATE
20. According to what is established in the regulations exposed, the administrator company has the obligation to provide information to the associate, regarding their account statements, the account statements must be sent at least with the same periodicity in which the assemblies are held and, through the modality established in the CONTRACT;
21. In that sense, AUTOPLAN EAFC had to send to the COMPLAINANT their monthly account statements during the validity of their CONTRACT, that is, for the present case, they had to be sent monthly;
22. Regarding this, the COMPLAINANT has stated that AUTOPLAN EAFC did not comply with delivering their account statements monthly during the validity of the CONTRACT, for which, through the LETTER, the administrator company was requested the receipts of transmission of all account statements sent to the COMPLAINANT since their entry into the collective funds system;
23. It should be noted that, on December 7, 2022, AUTOPLAN EAFC presented copies of seven (7) Account Statements corresponding to the CONTRACT signed by the COMPLAINANT, corresponding to information updated to the following dates: 10/08/2021, 11/08/2021, 12/17/2021, 01/08/2022, 02/08/2022,

3 The Administrator has the obligation to provide information to its Associates regarding their account statements and the Assembly calendar. When applicable, it will send information on the price variation of goods under Specific Goods Programs and other services they contract. Account statements must be sent at least with the same periodicity in which Assemblies are held. The Assembly calendar must be sent with a minimum periodicity of three (03) months. 4 From the review of the information sent by AUTOPLAN EAFC to the SMV in the “Situation of Associates File (SIT)”, according to what is stated in the “Technical Specifications Manual for the transmission to the SMV of information from Collective Fund Administrator Companies” approved by Superintendent Resolution No. 102-2016-SMV/02 and, registered in the collective funds information systems of the SMV, the COMPLAINANT presents the status of “Resolved” with a date of April 25, 2022.

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Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship 03/08/2022 and 04/08/2022; however, they did not present their respective transmission receipts;
24. That is, AUTOPLAN EAFC did not comply with presenting the receipts of receipt of the account statements by the COMPLAINANT from the month of September 2021 (month of contract signing) until April 2022 34 .
Therefore, AUTOPLAN EAFC has not presented evidentiary means that accredit the transmission to the COMPLAINANT of the account statements corresponding to the CONTRACT;
25. In that sense, it is observed that AUTOPLAN EAFC would have failed to comply with clause 10, numeral 10.4, letter l) of the CONTRACT and Article 70 of the REGULATION, as it has not been accredited that it sent to the COMPLAINANT the information corresponding to their account statements in the periods indicated;
26. Therefore, it was charged to AUTOPLAN EAFC that it would have committed one (1) minor infraction typified in Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION, according to which it constitutes an infraction: “Not to timely send to the associates information on account statements or assembly calendars”;
B. ON THE TRANSMISSION OF PAYMENT RECEIPTS
27. The COMPLAINANT complained that, despite having deposited to the bank accounts of AUTOPLAN EAFC the sum of S/ 6,460.00 (Six thousand four hundred and sixty and 00/100 soles), the company only sent them two (2) electronic Sales Receipts that, together, amount to the sum of $ 1,072.19 (One thousand seventy-two and 19/100 US dollars), alleging the existence of an unbilled amount of money;
28. On this matter, AUTOPLAN EAFC has presented five (5) copies of the electronic receipts numbers No. B001-00233770, No. B001-00233839, No. B001-00233911 No. B001-00233981, and No. B001-00255641, issued on account of the payments made by the COMPLAINANT;
29. Likewise, AUTOPLAN EAFC presented copies of the emails through which four (4) of the five (5) aforementioned electronic receipts (receipts issued in September 2021) were sent to the email CORREO1, and the screenshot of the application called “Digiflow” through which it would be accredited the delivery to the COMPLAINANT of four (4) of the five (5) electronic receipts issued on account of the payments made by virtue of the CONTRACT;
30. The information presented indicates that, by virtue of the CONTRACT, AUTOPLAN EAFC issued five (5) payment receipts for a total amount of US$ 1,700.00 (One thousand seven hundred and 00/100 US Dollars). In accordance with the information provided by AUTOPLAN EAFC to the SMV regarding the payments made by the COMPLAINANT in the document Payment Schedule;
31. However, the documentation presented by AUTOPLAN EAFC does not accredit that all payment receipts were sent to the COMPLAINANT;

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32. The information contained in the documents presented by AUTOPLAN EAFC, mentioned in this section, is summarized in the following table:

Issuance Date	Electronic Receipt No.	Total Amount (In USD)	Sent by email to COMPLAINANT (YES/NO)	Sent by Digiflow to COMPLAINANT (YES/NO)
09/14/2021	B001-00233770	755.2	YES	YES
09/14/2021	B001-00233839	31.87	YES	YES
09/14/2021	B001-00233911	316.99	YES	YES
09/14/2021	B001-00233981	316.99	YES	YES
11/18/2021	B001-00255641	278.95	NO	NO
TOTAL		1700

Considering the above, AUTOPLAN EAFC would not have complied with observing what is provided by clause 7, numeral 7.6 of the CONTRACT, since it would not have complied with sending all the payment receipts to the COMPLAINANT within the framework of the CONTRACT;
Therefore, it was charged to AUTOPLAN EAFC that it would have committed one (1) infraction classified as serious, according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes an infraction: “Not to comply with the provisions of the collective fund administration contract entered into with the associate”; since it would not have complied with sending all payment receipts to an associate;
G. ON THE TRANSMISSION OF THE GENERAL CONDITIONS OF THE CONTRACT
According to the regulations exposed, AUTOPLAN EAFC has the obligation to send the duly signed General Conditions of the contract, which form an integral part of the CONTRACT. Regarding this, the COMPLAINANT complained that they were never sent the printed general conditions and with the specification of the group to which they belonged and their vacancy number among other data;
Therefore, through the LETTER the SMV requested AUTOPLAN EAFC, among others, a copy of Annex 1 titled “General Conditions of the Collective Fund Administration Contract” which is an integral part of the CONTRACT signed between AUTOPLAN EAFC and the COMPLAINANT, and the copy of the receipt of its transmission to the COMPLAINANT;
Regarding this, it should be noted that although AUTOPLAN EAFC sent a copy of the CONTRACT signed by the COMPLAINANT, it is observed that they presented a copy of the format of the General Conditions of the CONTRACT with the fields empty (except for the registration fee percentage and administration fee). Likewise, they did not present any evidentiary means that accredit that they sent to the complainant said General Conditions where the group and vacancy number, among other data of the complainant's contract, are recorded;

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Considering the above, it is noted that
AUTOPLAN EAFC would not have complied with observing what is provided for in the third clause, numeral 3.2 and the fifth clause, numeral 5.2 subsection 5.2.1 of the CONTRACT, since AUTOPLAN EAFC would not have complied with sending the General Conditions of the CONTRACT to the associate;
Therefore, it was attributed to AUTOPLAN EAFC that
it would have incurred in one (1) infringement classified as serious according to Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes infringement: "Not comply with the provisions of the collective fund administration contract celebrated with the associate";

3.3. On the defenses
40. 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 charges formulated through the OFFICE OF CHARGES;

3.4. Evaluation of the charges
41. Without prejudice to what is stated in the preceding
considerations, it is necessary to point out that AUTOPLAN EAFC is a company supervised by the SMV, with operating authorization granted through Superintendent Resolution No. 024-2015-SMV/02 of February 17, 2015 and has knowledge of the regulations 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 administrator; however, this did not occur, since the administrator company incurred in the commission of the infringements subject to charges;
42. What is stated in the previous consideration impacts
the fulfillment of its functions and obligations as a collective fund administrator company;
43. Additionally, AUTOPLAN EAFC has the
obligation to comply with the contract signed with its associates, which establishes the rights and obligations of the associates and the administrator company and whose model is authorized by the SMV, at the request of AUTOPLAN EAFC;

A. ON THE REMITTANCE OF STATEMENTS
44. Indeed, in the present case, according to the
documents in the file, it is observed that AUTOPLAN EAFC did not comply with sending the statements to the COMPLAINANT during the validity of the CONTRACT, that is, from the month of September 2021 (month of contract subscription) until April 2022, since the administrator company has not presented the remittance charges of the referenced account statements to the associate. Therefore, AUTOPLAN EAFC has failed to comply with what is provided in clause 10, numeral 10.4, letter l) of the CONTRACT and the
article 70° of the REGULATION;

B. ON THE REMITTANCE OF PAYMENT RECEIPTS
45. Likewise, it is appreciated that AUTOPLAN EAFC has not
complied with sending to the COMPLAINANT the entirety of the payment receipts, taking into account that, although it presented the remittance charge of four of the five payment receipts issued regarding the payments made by the associate, it has not

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Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship presented the remittance charge to the associate corresponding to the invoice No. B001- 00255641 for the amount of US$ 278.95. Consequently, it is observed that AUTOPLAN EAFC has failed to comply with what is provided in clause 7, numeral 7.6 of the CONTRACT;

D. ON THE REMITTANCE OF THE GENERAL CONDITIONS
46. On this point, it is observed that AUTOPLAN EAFC
did not comply with sending to the COMPLAINANT the General Conditions of the CONTRACT, since it has presented a copy of the referenced document with the fields blank (except for the percentage of enrollment fee and administration fee). Likewise, it did not present any means of proof that it sent to the complainant said General Conditions where the group and number of vacancy, among other data of the complainant's contract, are recorded. Consequently, it is observed that AUTOPLAN EAFC has failed to comply with what is provided for in the third clause, numeral 3.2 and the fifth clause, numeral 5.2 subsection 5.2.1 of the CONTRACT;
47. In accordance with what is exposed, it is noted that AUTOPLAN
EAFC has incurred in one (1) infringement classified as minor, according to Annex XIII, numeral 3, item 3.7 of the SANCTIONS REGULATION, according to which it constitutes infringement: "Not timely remit to the associates information on the account statements or calendar of assemblies", since it has not complied with sending to the associate the account statements corresponding to its collective fund administration contract signed;
48. Likewise, AUTOPLAN EAFC has incurred in two (2)
serious infringements typified in Annex XIII, numeral 2, item 2.16 of the SANCTIONS REGULATION, according to which it constitutes infringement: "Not comply with the provisions of the contract of administration of collective funds celebrated with the associate", since it did not remit the entirety of the payment receipts and did not deliver the general conditions of the collective fund administration contract signed;

IV. EVALUATION OF THE SANCTION
49. 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 5 of the TUO LPAG and article 257 6 of the aforementioned normative body; the administrative sanctions that are imposed

5
"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 infringer than complying with the infringed rules or assuming the sanction. However, the sanctions to be applied
must be proportional to the non-compliance classified as an infringement, observing the following criteria that are indicated for the purposes of their graduation:
a) The illicit benefit resulting from the commission of the infringement; b) The probability of detection of the infringement; c) The severity of the damage to the public interest and/or protected legal good; d) The economic harm caused; e) Recidivism, for the commission of the same infringement within a period of one (1) year from when the resolution sanctioning the first infringement became final. f) The circumstances of the commission of the infringement; and g) The existence or non-existence of intent in the infringer's conduct". 6 "Article 257°.- Exemptions and mitigating conditions of responsibility for infringements 1.- The following constitute conditions exempting responsibility for infringements:
a) Force majeure or fortuitous event duly proven. b) Acting in compliance with a legal duty or the legitimate exercise of the right of defense. c) Mental incapacity duly proven by the competent authority, provided that this affects the aptitude to understand the infringement.

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Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship shall take into account the criteria provided by Decree Law No. 21907, the SANCTIONS REGULATION and the TUO LPAG;
50. Within that framework, the evaluation of the sanction
must consider: a) Antecedents of the infringer; b) Recidivism; c) Circumstances of the commission of the infringement; d) Economic harm caused and its repercussion in the market; e) Illicit benefit resulting from the commission of the infringement; f) Probability of detection of the infringement; g) Severity of the damage to the public interest and/or protected legal good; h) Existence or non-existence of intent in the infringer's conduct;
51. In that sense, for the purpose of harmonizing the criteria
of the TUO 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;
52. Regarding the antecedents, in accordance with
what is provided by article 25°, letter a) of the SANCTIONS REGULATION, antecedents constitute the final sanctions imposed by the SMV within a period of four (4) years prior to the commission of the infringement to be sanctioned. The referenced article specifies that the commission of the same infringement in the year prior to the infringement to be sanctioned is not considered an antecedent;
53. 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
(*)
Recidivism i
Adjunct Superintendent Resolution
SMV No. 112-
2017-SMV/10 7
AUTOPLAN EAFC is sanctioned with a fine of two (02) UIT, for having incurred in one (01) infringement of serious nature typified in Annex XIX, numeral 2, item 2.12 of the Sanctions Regulation approved by CONASEV Resolution No. 055- 2001-EF/94.10 and its modifying norms (hereinafter PREVIOUS 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, B and C No ii Adjunct Superintendent Resolution SMV No. 017- 2018-SMV/10 8 AUTOPLAN EAFC is sanctioned with six (06) warnings and a fine of 15.48 UIT for having incurred in eleven (11) infringements of a minor nature typified in Annex XIV, numeral 3, item 3.1 30/12/2021 A No

d) The mandatory order of the competent authority, issued in the exercise of its functions. e) The error induced by the Administration or by confusing or illegal administrative provision. f) The voluntary subsanation by the possible sanctioned party of the act or omission imputed as constitutive of administrative infringement, prior to the notification of the charges referred to in item 3) of article 255. 2.- The following constitute mitigating conditions of responsibility for infringements:
a) If an administrative sanctioning procedure has been initiated, the infringer expressly recognizes their responsibility in writing.
In cases where the applicable sanction is a fine, it is reduced to an amount not less than half of its amount. b) Others that are established by special norm". 7 Notified on November 17, 2017. 8 Notified on May 11, 2018.

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Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship No. Resolution Resolved Finality Antecedent (*) Recidivism of the PREVIOUS SANCTIONS REGULATION, for not having complied with presenting periodic information within the deadline established in the applicable regulation. Through Adjunct Superintendent Resolution SMV No. 070-2021-SMV/10, the reconsideration appeal filed by Autoplan EAFC was declared founded in part and consequently the amount of the fine imposed through article 17 of the Adjunct Superintendent Resolution SMV No. 017-2018-SMV/10 was graduated to 9.675 UIT. iii Adjunct Superintendent Resolution SMV No. 011- 2019-SMV/10 9 AUTOPLAN EAFC is sanctioned with two (02) warnings for having incurred in two (02) infringements of a serious nature typified in the
Annex XIV, numeral 2, item 2.21 and Annex XIV,
numeral 2, item 2.41 of the PREVIOUS SANCTIONS REGULATION, for not having determined adequately the order of preference of the substitute awardees. 11/04/2019 A, B and C No iv Adjunct Superintendent Resolution SMV No. 004- 2020-SMV/10 10 AUTOPLAN EAFC is sanctioned with a fine of three (03) UIT for having incurred in two infringements: one (01) of a serious nature typified in Annex XIV, numeral 2, item 2.22 of the PREVIOUS 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 minor nature typified in Annex XIV, numeral 3, item 3.13 of the PREVIOUS SANCTIONS REGULATION, for not timely remitting to the associate the information on the calendar of assemblies. Through RSUP No. 119-2020-SMV/02, the appeal filed by AUTOPLAN EAFC was declared founded in part and consequently the sanction imposed as a fine in article 3° of the Adjunct Superintendent Resolution SMV No. 004-2020-SMV/10 was modified, reducing it from three (3) UIT to two (2) UIT, valid at the time of effective payment of the fine; and, the corrective measure disposed in article 4° of the mentioned Adjunct Superintendent Resolution was revoked. 01/12/2020 A, B and C No v Adjunct Superintendent Resolution SMV No. 013- 2021-SMV/10 11 AUTOPLAN EAFC is sanctioned with three (03) warnings and a fine of 28.0045 UIT for having incurred in twenty (20) infringements of a minor nature typified in Annex XIV, numeral 3, item 3.1 of the PREVIOUS SANCTIONS REGULATION and in two (02) infringements of a minor nature typified in the
Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATION, for not having complied with presenting
21/04/2021 A, B and C No

9 Notified on March 21, 2019.
10 The resolution was subject to appeal by AUTOPLAN EAFC. Subsequently, through Superintendent Resolution No. 119-2020-SMV/02, the appeal was declared founded in part. 11 Notified on March 26, 2021.

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SMV
Securities Market Superintendence
Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship No. Resolution Resolved Finality Antecedent () Recidivism periodic information within the deadline established by the applicable regulation regarding this information intermediate financial information and management report. vi Adjunct Superintendent Resolution SMV No. 060- 2021-SMV/10 12 AUTOPLAN EAFC is sanctioned with a fine of
18.3345 UIT for having incurred in twelve (12)
infringements of a minor nature typified in the
Annex I, numeral 3, item 3.1, of the SANCTIONS REGULATION, for not having complied with presenting
periodic information within the deadline established by the applicable regulation.
24/01/2022 A No vii
Adjunct Superintendent Resolution SMV No. 003- 2022-SMV/10 13 AUTOPLAN EAFC is sanctioned with four (04) UIT for having incurred in one (01) infringement of a serious nature typified in Annex XIV, numeral 2, item
2.6 of the PREVIOUS SANCTIONS REGULATION, for granting
loans in favor of third parties exceeding the limit established by the regulation.
17/03/2022 A No
() Literals of section 3.3 of this resolution.
54. With respect to recidivism for the commission of the
same infringement, that final sanction imposed by the SMV within a period of one (1) year prior to the commission of the infringement to be sanctioned is taken into account. Within this framework, it must be stated that AUTOPLAN EAFC does not present sanctions within the period indicated above, for the commission of the same infringements subject of analysis, in the present administrative sanctioning procedure, so that recidivism is not configured;
55. With respect to the circumstances of the commission of the
infringements, it must be mentioned that AUTOPLAN EAFC, in its capacity as a company supervised by the SMV, knows the regulations that regulate the system of collective funds and in that sense, its obligations referred to sending the general conditions of the contracts it administers, providing information to associates on their account statements and payment receipts as established in the REGULATION and in the contracts it administers;
56. Notwithstanding the above, in the present case it has been
proven that AUTOPLAN EAFC did not comply with delivering the account statements to the COMPLAINANT during the validity of the CONTRACT, nor did it deliver the entirety of the payment receipts corresponding to the CONTRACT, nor did it comply with sending to the associate the General Conditions of the CONTRACT;
57. On this particular, it should be noted that AUTOPLAN
EAFC in the development of its activities is obliged to comply with the regulations that regulate the exercise of its activities and its own internal procedures established in the corresponding manuals. Regarding this, the administrator company, must implement the procedures and controls necessary for their due observance. Likewise, it must be reiterated that AUTOPLAN EAFC has the obligation to comply with the contract signed with its associates, which establishes the rights and

12 Notified on December 29, 2021.
13 Notified on February 24, 2022.

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and authorship obligations of the associates and the administrator company and whose model is authorized by the SMV, at the request of the administrator company;
58. With respect to the harm caused and to the repercussion
in the market, in the present case, it has not been evidenced that the infringements in which AUTOPLAN EAFC has incurred have produced a concrete quantifiable harm in the market; however, these facts affect the confidence of the associates or potential associates in the collective fund system;
59. Regarding the illicit benefit resulting from the
commission of the infringements, it must be noted that it has not been proven that AUTOPLAN EAFC has obtained a benefit that is directly related to the infringements subject of analysis in the present administrative procedure;
60. With respect to the probability of detection of the
infringements, it must be indicated that the facts constitutive of the infringements committed by AUTOPLAN EAFC were evidenced when verifying the compliance with the applicable regulation for the development of its functions, based on the facts exposed by the COMPLAINANT in the complaint filed against the administrator company, so that the probability of detection of the infringement was low;
61. As for the severity 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 action of AUTOPLAN EAFC in the commission of the infringements subject of analysis in the present sanctioning procedure have caused damage to the public interest determinable;
62. However, a protected legal good has been affected,
consisting in the protection of the associate, since AUTOPLAN EAFC has failed the obligation to provide periodic information to the associate. The obligation unfulfilled aims to prevent the affectation of the interests of the associates, particularly their confidence in the collective fund system, since the remittance of account statements allows the former to verify the detail of their contributions based on the fees paid, the administration expenses charged by the society and to perform the control of their payments made on a monthly basis, as well as the other information established in Annex 8 of the REGULATION;
63. Likewise, according to what is provided in clause 7, numeral 7.6, of the CONTRACT, the administrator company was
obliged to remit the payment receipts corresponding to the payments made by the associates. In such sense, and in order to avoid a possible affectation to its clients, AUTOPLAN EAFC had to establish procedures in order to comply with the obligations established in the contract and the regulations of the collective fund system;
64. Additionally, in accordance with what is provided in clause
third, numeral 3.2 and the fifth clause numeral 5.2 of the contracts, AUTOPLAN EAFC must remit, once the applicant's registration is approved, the general conditions of the contract with all the corresponding data in accordance with the regulation indicated;
65. In this way, taking into account that the
collective fund administrator companies have the obligation to act in strict compliance with the regulation applicable to them, such as the provisions established in the contracts and the REGULATION, in safeguarding the collective fund system, the transgression of said regulation affects the legal good referred to the

PERU Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
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 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;
66. Regarding the existence or not of intent
in the conduct of the offender, it must be specified that no intent has been verified in the conduct of AUTOPLAN EAFC regarding the infractions subject to analysis;
67. In addition to the above, it corresponds to analyze the
assumptions of exonerating and mitigating circumstances of liability established in article 257 of the TUO LPAG as well as the mitigating and exonerating conditions of liability established in articles 26 and 27 of the SANCTIONS REGULATION;
68. In accordance with what has been analyzed, in accordance with
what has been determined in article 257, paragraph 1 of the TUO LPAG and article 27 of the SANCTIONS REGULATION, it is not observed that in the present case any of the assumptions that constitute conditions exonerating liability have been configured;
69. With regard to the voluntary declaration of the
commission of the infractions (article 257, paragraph 2 of the TUO LPAG) and the contribution of the offender to their clarification, established in article 26, letters a) and b) of the SANCTIONS REGULATION, it must be indicated that AUTOPLAN EAFC did not present defenses. Consequently, it has not expressly recognized the commission of the infractions subject to evaluation, nor has it contributed to the clarification of the facts imputed as charges;
70. From the foregoing, it is concluded that AUTOPLAN EAFC
has incurred the commission of one (01) infraction classified as minor in Annex XIII, paragraph 3, item 3.7 of the SANCTIONS REGULATION and two (2) infractions classified as serious in Annex XIII, paragraph 2, item 2.16 of the SANCTIONS REGULATION, 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 REGULATION;
71. In this regard, it should be noted that since the
determined infractions are of different nature, it corresponds to impose the sanction for the most serious infraction, as stated in the second paragraph of article 29 14 of the SANCTIONS REGULATION;
72. However, taking into account the sanctioning criteria
analyzed, and in application of the Principle of Reasonableness contemplated in
article 248, paragraph 3 of the TUO LPAG which states that the sanctions to be applied
shall be proportional to the non-compliance classified as an infraction, it must be considered that regarding the infractions subject to charges, it has not been evidenced that these have caused economic harm or that they have had repercussions in the market. Likewise, it has not been verified that the administrator company has obtained any illicit benefit with the commission of the infractions subject to charges, nor that it has had intent in its actions regarding this. Likewise, it has been verified that AUTOPLAN EAFC is not a repeat offender with respect to the infractions;

14
“Article 29.- CONCURSUS OF INFRACTIONS
(…)
Likewise, when several conduct qualify as more than one infraction, the sanction corresponding to the most serious infraction is imposed.”

PERU Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
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
73. In that sense, considering the analysis performed,
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 article 39 of the SANCTIONS REGULATION, for the infractions under evaluation in the present administrative sanctioning procedure;
74. Being in accordance with what is provided by article 32°, paragraph
16, of the Regulation of Organization and Functions of the SMV, approved by Supreme Decree Nº 216-2011-EF and its modifications; RESOLVES:
Article 1º.- Declare that Autoplan Empresa
Administradora de Fondos Colectivos S.A has incurred one (1) infraction classified as minor as established in Annex XIII, paragraph 3, item 3.7 of the Regulation of Sanctions, approved by SMV Resolution N° 035-2018-SMV/01, since it did not comply with sending the monthly account statements to the associate, corresponding to its contract, during its validity.
Article 2º.- Declare that Autoplan Empresa
Administradora de Fondos Colectivos S.A has incurred one (1) infraction classified as serious as established in Annex XIII, paragraph 2, item 2.16 of the Regulation of Sanctions, approved by SMV Resolution N° 035-2018-SMV/01, for not having complied with sending all the payment receipts to the associate corresponding to its contract.
Article 3º.- Declare that Autoplan Empresa
Administradora de Fondos Colectivos S.A has incurred one (1) infraction classified as serious as established in Annex XIII, paragraph 2, item 2.16 of the Regulation of Sanctions, approved by SMV Resolution N° 035-2018-SMV/01, for not having complied with sending the general conditions of its contract with the requirements established.
Article 4º.- Sanction Autoplan Empresa
Administradora de Fondos Colectivos S.A with a fine of 01 UIT in force at the moment of effective payment of the fine for the commission of the infractions referred to in articles 1°, 2° and 3° of this resolution.
Article 5º.- This resolution does not exhaust the
administrative route, unless it is consented, being able to be challenged before the Adjunct Superintendence of Prudential Supervision by filing the reconsideration or appeal resource presented before the same, within the term of fifteen (15) business days counted from the day following its notification.
Article 6º.- In the event that this resolution is not
subject to challenge through reconsideration or appeal resource within the term of fifteen (15) business days of being notified and becomes final, 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 paragraph 1, article 7º of the Policy on diffusion 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 its modification, and by what is provided in article 14° of the Regulation of Sanctions, approved by SMV Resolution N° 035-2018-SMV/01.

PERU Ministry of Economy and Finance

SMV
Superintendencia del Mercado de Valores
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
Article 7º.- Transcribe this resolution to
Autoplan Empresa Administradora de Fondos Colectivos S.A. and to the COMPLAINANT.
Register, communicate and publish.
Omar Gutiérrez Ochoa
Adjunct Superintendent
Adjunct Superintendence of Prudential Supervision

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