Resolution SBS No. 2317-2020: Establish Non-Pecuniary Sanctions and Corrective Measures in UIF-Peru Administrative Sanctioning Procedures and Amend the Regulations on Infractions and Sanctions in AML/CFT

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)2218990 Fax: (511) 4417760 Lima, September 23, 2020 Resolution S.B.S.
No. 2317-2020

The Superintendent of Banks, Insurance and Private Pension Fund Administrators:

CONSIDERING:

That, through Supreme Decree No. 044-2020-PCM, a National State of Emergency was declared due to the grave circumstances affecting the life of the Nation as a result of the COVID-19 outbreak, which has been extended until August 31, 2020, through Supreme Decree No. 135-2020-PCM;

That, although last May, and by Supreme Decree No. 080-2020-PCM, the Government approved the progressive resumption of economic activities, with the aim of containing the negative impact generated in the economy by the measures adopted to control the spread of that disease, many companies and entities have not been able to avoid being economically affected by this situation;

That, in view of this, it is necessary to prioritize the imposition of non-pecuniary sanctions, as well as to establish the corresponding corrective measures, within the framework of the administrative sanctioning procedures that the Financial Intelligence Unit of Peru (UIF-Peru) is in charge of in matters of prevention of money laundering and terrorist financing;

In exercise of the powers conferred by literals 2 and 11 of Article 367 of Law No. 26702, General Law of the Financial System and the Insurance System and Organic Law of the Superintendence of Banking and Insurance;

RESOLVES:

Article First.- Provide that the pecuniary sanctions established in the Regulations on Infractions and Sanctions in Matters of Prevention of Money Laundering and Terrorist Financing, approved by Article First of Resolution SBS No. 8930-2012, and the Regulations on Infractions and Sanctions of the Superintendence of Banking, Insurance and Private Pension Fund Administrators, approved by Article First of Resolution SBS No. 2755-2018, are not applicable to administrative sanctioning procedures to be initiated or that are pending as a consequence of supervision actions in matters of prevention of money laundering and terrorist financing carried out by UIF-Peru until March 15, 2020.

In said procedures, a reprimand sanction will be imposed and, if applicable, the implementation of corrective measures will be ordered.

The provisions of this article will not apply in the case of very serious infractions, in which case the sanctions established in the aforementioned Regulations will continue to apply.

Article Second.- Incorporate article 14-A into the Regulations on Infractions and Sanctions in Matters of Prevention of Money Laundering and Terrorist Financing approved by Resolution SBS No. 8930-2012:

“Article 14-A.- Corrective Measures

Corrective measures dictated within the framework of a sanctioning procedure aim to order the restoration or repair of the situation altered by the infraction to its previous state. These measures are imposed without prejudice to the administrative sanction that may apply and respond to a nature and objectives distinct from those of a sanction. Corrective measures are imposed through a duly motivated resolution of the competent body.

Among the corrective measures that the Superintendence can order, in exercise of the conferred powers, are the following:

a. Orders to do or not do to restore or repair the situation altered by the infraction. b. Order the publication of informational notices in the manner determined by the Superintendence taking into account the means that are appropriate to reverse the effects of non-compliance.
c. Other measures that are directly related to compliance with the violated norms.

Non-compliance with these measures constitutes an infraction as indicated in Annex 1.”

Article Third.- Incorporate the following serious infraction into Annex 1 of the Regulations on Infractions and Sanctions in Matters of Prevention of Money Laundering and Terrorist Financing, approved by Article Second of Resolution SBS No. 8930-2012 and its modifying norms:

“42. Fail to implement the corrective measures ordered by the Superintendence.”

Article Fourth.- This Resolution will enter into force the day following its publication in the Official Gazette El Peruano.

Register, communicate and publish.

SOCORRO HEYSEN ZEGARRA
Superintendent of Banking, Insurance and Private Pension Fund Administrators