Resolution SBS No. 1188-2014: Standard Regulating the Certificate of Deposits or Other Passive Products of Deceased Persons

Los Laureles Nº 214 - Lima 27 - Perú Telf.: (511)6309000 Fax: 6309239 Lima, February 24, 2014 S.B.S. Resolution No. 1188-2014

The Superintendent of Banks, Insurance and Private Pension Fund Administrators

CONSIDERING:

That, through Circular No. B-2216-2013, F-556–2013, CM-404-2013, CR-272-2013, this Superintendence regulated the issuance of the certificate of deposits or other passive products of deceased persons, with the objective that accredited heirs may access information regarding the deposits or other passive products of their deceased relatives, in the companies of the financial system;

That, for the processing of the aforementioned requests, through SBS Resolution No. 7425-2013, Procedure No. 158 of the Single Text of Administrative Procedures (TUPA) of the Superintendence of Banks, Insurance and Private Pension Fund Administrators (SBS), relative to the Issuance of a Certificate of Deposits in favor of legally accredited heirs, was approved;

That, subsequently, the attention of the information request that heirs formulate, through the SBS, regarding the existence of deposits or other passive products in the name of their deceased relatives in financial companies, was regulated by Law No. 30152, Law on Informed Heirs in Passive Financial Services;

That, Article 5 of Law No. 30152 establishes that the SBS will sanction the non-compliance with the obligations provided in said law; and, on the other hand, the Sole Final Complementary Provision of the same Law establishes that this entity will issue the necessary norms to adapt to what is provided in it, within a term of thirty (30) business days from its publication;

That, for this reason, it has been decided to elevate to resolution what was regulated by Circular No. B-2216-2013, F-556 –2013, CM-404-2013, CR-272-2013 previously referred to, complying with the formality established in Law No. 30152, as well as establishing the corresponding sanctioning framework;

Having the approval of the Adjunct Superintendencies of Banking and Microfinance, Market Conduct and Financial Inclusion and Legal Advice, and;

In exercise of the powers conferred by Article 367 of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendence of Banks and Insurance, Law No. 26702 and, in accordance with the exception conditions established in numeral 3.2 of Article 14 of Supreme Decree No. 001-2009-JUS;

RESOLVES:

Article First.- The Standard that regulates the Certificate of deposits or other passive products of deceased persons is approved, as indicated below:

STANDARD THAT REGULATES THE CERTIFICATE OF DEPOSITS OR OTHER PASSIVE PRODUCTS OF DECEASED PERSONS

Article 1.- Scope
This standard is applicable to deposits or passive products under any modality as provided by Article 221 of the aforementioned General Law, which the companies of the financial system indicated in literal A of Article 16 of the General Law, hereinafter companies, have.

Article 2.- Definitions
For the purposes of the provisions of this standard, the following definitions shall be considered applicable:
a) Application: computer application to attend to requests for deposit certificates, in the Supervised Portal of the Superintendence, through which the request for deposit information is managed from the companies owned by the deceased, by the heirs. b) Deceased: natural person who has died, who appears as the owner of the deposit in the company. c) Certificate of deposit or other passive products: document delivered in favor of the heir by the Superintendence, according to the information provided by the companies, which certifies the existence of deposits owned by the deceased. d) Deposit: any of the passive operations that are owned by the deceased, provided in Article 221 of the General Law, such as demand deposits, time deposits and savings, as well as in custody; in addition, the values, documents and objects in custody and the content in safety deposit boxes. e) Company: company of the financial system to which the information regarding deposits owned by the deceased is requested. f) Heir: natural or legal person accredited with the right to know about the deposits owned by the deceased in the companies. g) General Law: General Law of the Financial System and the Insurance System and Organic Law of the h) Superintendence of Banks and Insurance. i) Superintendence: Superintendence of Banks, Insurance and Private Pension Fund Administrators.

Article 3.- Operational Conditions
For the purposes of the issuance of certificates that certify the existence of deposits owned by the deceased in the companies, which are requested by their duly accredited heirs, this Superintendence has implemented the computer application in the Supervised Portal, called “Application for the Request for Deposit Certificate”. The Superintendence will make the user manual of the application available to the companies, through the same Portal.

Los Laureles Nº 214 - Lima 27 - Perú Telf.: (511)6309000 Fax: 6309239

Likewise, the Superintendence will communicate to the companies, those complementary operational aspects for the adequate use of the application, for the benefit of the service that must be provided to the heirs requesting the respective certificates.

Article 4.- Procedure

1. Heirs must request the certificate of deposits in the financial system from the Superintendence, attaching the following documentation: 1
   a) First and last names; and, type and number of identity document. b) Home address and email, if applicable. c) Contact phone number. d) Data of the deceased person: i) first and last names and ii) type and number of identity document; and iii) date of death. e) Simple copy of the death certificate or birth record, or of the judicial resolution consented or final due to presumed death. f) Number of Electronic Record or Sheet of the Registration of Intestate Succession in SUNARP, specifying the Registry Office, or simple copy of the registration of the Will in SUNARP; where the quality of heir of the citizen applicant is accredited. 2 g) Accreditation of representation: i) simple power of attorney, and ii) data of the representative: first and last names; and, type and number of identity document. 3 h) Signature or fingerprint, or other mechanism established by the SBS, in case of not knowing how to sign or being impeded. 4
2. Through the use of the application, the Superintendence sends the information request to the companies so that they report the existence of deposits owned by the deceased. The companies, within a maximum term of five (5) business days, computed from the date and time when said request entered the company's application inbox, must attend -through the application- the Superintendence's request. The companies must send information –only- regarding whether or not there are deposits of sole or joint ownership of the deceased. In case the deposits have joint quality, they must limit themselves to the information requested in the name of the deceased. 4
3. The Superintendence, within a maximum term of twelve (12) business days counted from the presentation of the request with complete information, by the heir, must deliver the deposit certificate; or otherwise, communicate the non-existence of deposits owned by the deceased, according to what was reported by the companies.
4. The certificate will contain the following:
   a) Information regarding the sole or joint ownership of the deceased over the identified deposits. b) The name of the company where deposits in the name of the deceased were identified.
   In the event that the existence of deposits owned by the deceased is not reported, the Superintendence will issue a communication to the heir, informing about said result.

1 Numeral modified by SBS Resolution No. 4464-2016, published on 20.08.2016.
2 Numeral modified by SBS Resolution No. 1771-2020, published on 08.07.2020 and effective on 09.07.2020 3 Numeral modified by SBS Resolution No. 1771-2020, published on 08.07.2020 and effective on 09.07.2020 4 Numeral modified by SBS Resolution No. 4464-2016, published on 20.08.2016.

Los Laureles Nº 214 - Lima 27 - Perú Telf.: (511)6309000 Fax: 6309239

5. The request submitted by the user is subject to what is established in the Standard that regulates the services provided by the SBS to citizens and the attention of complaints against supervised companies.
   5

Article 5.- Responsibility of companies and designation of officials
Companies must designate two (2) responsible persons, one primary and one alternate, who will be in charge of providing attention and response to information requests, which are channeled through this Superintendence, through the aforementioned application. The information provided by the company, in response to the request entered under the aforementioned application, will have the character of a sworn declaration, thereby assuming responsibility for what was reported in said medium. Any change in the designation of the primary and alternate responsible person must be communicated to the Superintendence, with an advance of no less than five (5) business days before the appointment takes effect.

FINAL AND TRANSITORY PROVISION
Sole.- Companies that have complied with designating the primary and alternate responsible persons, for the attention of information requests within the framework of this standard, will not need to resend the information to the Superintendence, unless it is a modification of the designation, according to what is provided in the third paragraph of Article 5. Those companies that have not complied with the designation established in numeral 5 of Circular No. B-2216-2013, F-556 –2013, CM-404-2013, CR-272-2013 will have a maximum term of five (5) business days counted from the effectiveness of this resolution, to comply with sending said information to the Superintendence.

Article Second.- Procedure No. 158 of the Single Text of Administrative Procedures (TUPA) of the Superintendence of Banks, Insurance and Private Pension Fund Administrators, relative to the Issuance of a Certificate of Deposits in favor of legally accredited heirs, is modified, in accordance with Law No. 30152 and this resolution.

Article Third.- The following text is modified and included in Annex 2 regarding specific infractions of the financial system and of companies of complementary and related services of the Sanctions Regulation, approved by SBS Resolution No. 816-2005 and its modifications:

I. MINOR INFRACTIONS
22A) Failure to comply with the term to communicate or omit to communicate the designation of the primary and alternate responsible persons in charge of providing attention and response to information requests, which are channeled through this Superintendence, through the Application for the Request for Deposit Certificate. 22B) Failure to comply with the term to send, omit to send or send with errors the information requested by the Superintendence through the Application for the Request for Deposit Certificate.

Article Fourth.- This resolution will enter into effect from the day following its publication in the Official Newspaper “El Peruano” and renders Circular No. B -2216-2013, F-556 –2013, CM-404-2013, CR-272-2013 null and void.

Register, communicate and publish.

DANIEL SCHYDLOWSKY ROSENBERG
Superintendent of Banks, Insurance and Private Pension Fund Administrators