Resolution SBS No. 369-2018: Approves the Standard for the Prevention of Money Laundering and Terrorist Financing Applicable to Obligated Subjects Under the Limited System

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 Lima, January 31, 2018 Resolution S.B.S.
No. 369-2018

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

CONSIDERING:

That, Article 3 of Law No. 27693, Law creating the Financial Intelligence Unit of Peru and its amendments, provides that it is the function and authority of the Superintendent of Banks, Insurance, and Private Pension Fund Administrators to regulate, in coordination with the supervisory bodies of obligated subjects, the guidelines, requirements, sanctions, and other aspects related to the prevention systems of obligated subjects required to report and of suspicious operation reports and the format for recording operations, among others, in accordance with the scope of the provisions of said law and its regulations;

That, Article 3 of Law No. 29038, Law incorporating the Financial Intelligence Unit of Peru (UIF-Peru) into the Superintendent of Banks, Insurance, and Private Pension Fund Administrators, modified by Legislative Decree No. 1249, Legislative Decree establishing measures to strengthen the prevention, detection, and sanctioning of money laundering and terrorism, establishes the list of obligated subjects required to inform the UIF-Peru, providing that those indicated in numeral 3.2 of said article must implement a limited system for the prevention of money laundering and terrorist financing;

That, through Supreme Decree No. 020-2017-JUS, the new Regulation of Law No. 27693 is approved, according to which the limited system for the prevention of money laundering and terrorist financing implies, on the part of the obligated subject, only the obligation to designate a part-time compliance officer; and to prevent, detect, and communicate to the UIF-Peru, suspicious operations through a ROS; and also incorporates as an obligated subject the Public Purchases Central – Peru Compras, a public executive body attached to the Ministry of Economy and Finance;

That, through Resolution SBS No. 8930-2012 and its modifying norms, the Regulation of Infractions and Sanctions in the matter of Prevention of Money Laundering and Terrorist Financing, applicable to obligated subjects supervised by the UIF-Peru, was approved, which in its Annex 1 typifies and classifies minor, serious, and very serious infractions for non-compliance with provisions in the matter of prevention of money laundering and terrorist financing;

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 2/14

That, in this context, it is necessary to approve the standard for the prevention of money laundering and terrorist financing applicable to the obligated subjects to inform as referred to in numeral 3.2 of Article 3 of Law No. 29038;

Having the approval of the UIF-Peru and the Adjunct Superintendent of Legal Advice, in coordination with the Peruvian Agency of International Cooperation (APCI) and the Council of Supervision of Foundations, supervisory bodies contemplated in Article 9-A of Law No. 27693; and having complied with the dissemination period of draft legal norms of a general nature referred to in Article 14 of the Regulation establishing provisions relative to the publicity, publication of normative projects, and dissemination of legal norms of a general nature, approved by Supreme Decree No. 001-2009-JUS and its modifying norms;

In exercise of the powers conferred by Law No. 29038 and its modifying norm and 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 its modifying norms, in concordance with Law No. 27693 and its modifying and regulatory norms;

RESOLVES:

Article 1.- Approve the Standard for the Prevention of Money Laundering and Terrorist Financing, applicable to obligated subjects under the limited system for the prevention of money laundering and terrorist financing, with the following text:

STANDARD FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING APPLICABLE TO OBLIGATED SUBJECTS UNDER THE LIMITED SYSTEM FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

CHAPTER I
GENERAL PROVISIONS

Article 1.- Scope
This standard is applicable to the following obligated subjects:

1. Those dedicated to the trade of antiques.
2. Interest managers in public administration, according to Law No. 28024.
3. Public auctioneers.
4. Credit and/or debit card processors.
5. Travel and tourism agencies and lodging establishments.
6. Non-profit organizations (NPOs) that collect, transfer, and disburse funds, resources, or other assets for charitable, religious, cultural, educational, scientific, artistic, social, recreational, or solidarity purposes or for the realization of other types of altruistic or benevolent actions or works, provided they do not facilitate credits, microcredits, or any other type of economic financing.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 3/14

7. State-owned companies that, due to the activity they perform, are not within the scope of numeral 3.1 of Article 3 of Law No. 29038 and the norms that modify or replace it, as well as the National Jury of Elections, the National Office of Electoral Processes, the State Contracting Supervisory Body, regional governments, and provincial municipalities.
8. The Public Purchases Central – Peru Compras
9. Professional football clubs, of the first and second division, that are part of the Professional Football Sports Association (ADFP) and the Professional Football Sports Association of the Second Division (ADFP-SD), respectively, or those that act in their place.

Article 2.- Definitions and Abbreviations
For the application of this standard, the obligated subject must consider the following definitions and abbreviations:

1. Days: calendar days.
2. Terrorist Financing: crime typified in Article 4-A of Legislative Decree No. 25475, Legislative Decree establishing the penalty for crimes of terrorism and procedures for investigation, instruction, and trial, and its modifying norms; as well as in Article 297, last paragraph, of the Penal Code and its amendments.
3. ML/TF: money laundering and terrorist financing.
4. Money Laundering: crime typified in Legislative Decree No. 1106, Legislative Decree for Effective Fight Against Money Laundering and Other Crimes Related to Illegal Mining and Organized Crime, and its modifying norms.
5. Law: Law creating the Financial Intelligence Unit of Peru, UIF-Peru, Law No. 27693 and its modifying and complementary norms.
6. Standard: Standard for the prevention of money laundering and terrorist financing applicable to obligated subjects under the limited system for the prevention of money laundering and terrorist financing.
7. Unusual operations: operations carried out or attempted to be carried out, whose amount, characteristics, and periodicity do not relate to the client's economic activity, fall outside the parameters of normality currently in force in the market, or have no evident legal basis.
   Obligated subjects under this Standard, regardless of the nature and complexity of the operation, may consider as additional information or criteria, the economic activity of suppliers and counterparties, geographic zones or countries at risk of ML/TF, sources of financing, among others.
8. Suspicious operations: operations carried out or attempted to be carried out, whose amount or characteristics do not relate to the client's economic activity, or that do not have an economic basis; or that due to their number, amounts transacted, or particular characteristics of these, could reasonably lead to suspect that the obligated subject is being used to transfer, manage, take advantage of, or invest resources originating from criminal activities or destined for their financing.
   In the case of the entities in numeral 7 of Article 1 of the Standard, the aforementioned definition applies to the obligated subject considering its particular characteristics, insofar as applicable.
9. Supervisory body: a) the UIF-Peru with respect to the obligated subjects referred to in items 1 to 5, item 6 with respect to obligated subjects that are not registered with APCI or CONSUF or that, being registered, receive funds, resources, or other assets for the purposes of the obligated subject that are not supervised or audited by said entities, as well as with respect to the obligated subjects established in items 7, 8, and 9 of Article 1 of the Standard; b) APCI and CONSUF, with respect to the obligated subjects referred to in item 6 of Article 1 of the Standard, registered with their respective entities.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 4/14

10. Designated persons or entities: natural and legal persons designated by the Sanctions Committees against ISIS (Daesh) and Al-Qaida 1267/1989/2253 and 1988 of the UNSC, pursuant to Resolution 1267 (1999) and the resolutions that succeed it; as well as natural and legal persons designated by the country or another country pursuant to Resolution 1373 (2001), as well as those natural and legal persons designated by the Sanctions Committee 1718 of the UNSC and the UNSC itself, pursuant to Resolutions 1718 (2006), and 2231 (2015) and the resolutions that succeed, modify, or replace them.
11. Politically Exposed Persons (PEPs): natural persons, national or foreign, who hold or have held in the last five (5) years prominent public functions or prominent functions in an international organization, whether in national or foreign territory, and whose financial circumstances may be subject to public interest. Likewise, a direct collaborator of the highest authority of the institution is considered a PEP.
12. Regulation: Regulation of Law No. 27693, Law creating the UIF-Peru approved by Supreme Decree No. 020-2017-JUS.
13. ML/TF Risks: possibility that the obligated subject is used for ML/TF purposes.
14. ROSEL: Online Suspicious Operations Report System. Technological tool developed by the SBS that allows obligated subjects to send the suspicious operations report (ROS) to the UIF-Peru by electronic means, under standards that ensure that the information is transmitted with an adequate level of security.
15. Alert signals: Situations or operations that escape normality and constitute a tool for the obligated subject, through the compliance officer, to identify unusual or suspicious operations.
16. SBS: Superintendent of Banks, Insurance, and Private Pension Fund Administrators.
17. Limited ML/TF Prevention System (SPLAFT Acotado): Limited system for the prevention of money laundering and terrorist financing.
18. Obligated subject: natural or legal person, state-owned company, or public entity required to inform the UIF-Peru, according to what is stated in Article 3, numeral 3.2 of Law No. 29038 and the norms that modify or replace it.
19. Worker: natural person who maintains a labor or contractual link with the obligated subject; includes the general manager, managers, administrators, or those who hold similar positions.
20. UIF-Peru: Financial Intelligence Unit of Peru, a specialized unit of the SBS.

CHAPTER II
ON THE LIMITED SYSTEM FOR THE PREVENTION OF ML/TF

Article 3.- Limited system for the prevention of ML/TF (SPLAFT Acotado)
3.1. The SPLAFT Acotado aims to prevent and avoid that the obligated subject is used for illicit purposes linked to ML/TF; and implies, on the part of the obligated subject, only the obligation to designate a part-time compliance officer; and to prevent, detect, and communicate to the UIF-Peru, suspicious operations through a ROS.
3.2. The SPLAFT Acotado must be applied by the entire administrative and operational organization of the obligated subject, including the obligated subject itself when it is a natural person, as well as by its compliance officer, its workers, managers, and directors, if it has such a governing body, according to the functions assigned to them. The system must focus on the detection of unusual operations and the prevention, detection, and reporting of suspicious operations that are presumably linked to ML/TF, in order to communicate them to the UIF-Peru, within the legal deadline established, guaranteeing the duty of indefinite confidentiality of the information related to said system.

Article 4.- Supervision of the obligated subject
4.1. It corresponds to the supervisory body to exercise the function of supervision of the SPLAFT Acotado of the obligated subjects under its respective supervision, using its own supervision mechanisms and counting on the support of the compliance officer; a function that is limited to the monitoring of the obligations to have a part-time Compliance Officer and send ROS to the UIF-Peru.
4.2. The supervisory body carries out supervision visits of the SPLAFT, according to the planning it determines based on the ML/TF risk analysis of the activities linked to the obligated subject, in accordance with what is provided in the Regulation.
4.3. The supervisory body exercises regarding its supervised entities the sanctioning faculty for non-compliance with the obligations derived from the Law, the Regulation, and this Standard, according to the corresponding Regulation of Infractions and Sanctions, applicable to the obligated subjects referred to in Article 1, items 1 to 9.

Article 5.- Responsibilities of the obligated subject
The obligated subject is responsible, among other obligations contemplated in the Law, to implement and monitor the SPLAFT Acotado, in accordance with what is provided in Article 13, item 13.1 of the Regulation, for which it must:

1. Establish and periodically review the functioning of the SPLAFT Acotado.
2. Designate a part-time compliance officer, with the characteristics, responsibilities, and attributions that current regulations establish.
3. Provide the resources and infrastructure that allow the adequate fulfillment of the compliance officer's functions.
4. Establish measures to maintain the confidentiality of the compliance officer, so that their identity is not known by persons outside the obligated subject.

Article 6.- Compliance Officer
6.1. The compliance officer is the natural person designated by the obligated subject, on a part-time basis, responsible for monitoring the adequate implementation and functioning of the SPLAFT Acotado. They are the contact person of the obligated subject with the supervisory body and the UIF-Peru, and an agent on which the supervisory body relies in the exercise of the supervision labor.
6.2. The person designated as compliance officer can only be so for one obligated subject at a time, unless it is a corporate compliance officer.
6.3. The obligated subject that is a natural person can be their own compliance officer.
6.4. The obligated subject that is a legal person can designate as compliance officer a worker with managerial rank, including the general manager or equivalent position, and must depend labor or contractually on the obligated subject.
6.5. The obligated subject may designate an alternate compliance officer, to serve only in case of temporary absence or vacancy of the titular compliance officer.

Article 7.- Requirements of the compliance officer
7.1. The compliance officer must meet the following requirements, which can be accredited by sworn statement:

1. Not having been convicted for the commission of an intentional crime.
2. Not having been dismissed from public office or having been removed from it for serious fault.
3. Not having overdue debts for more than one hundred twenty (120) days in the financial system or in judicial collection, nor protests of documents in the last five (5) years not clarified to the satisfaction of the UIF-Peru.
4. Not having been declared bankrupt.
5. Having a direct labor or contractual link with the obligated subject and enjoying autonomy and independence in the exercise of their responsibilities and functions.
   7.2. The compliance officer who ceases to meet any of the aforementioned requirements cannot continue to act as such, and must communicate this in writing to the obligated subject, within a maximum period of five (5) business days from the occurrence of the fact. When the obligated subject becomes aware of the non-compliance with requirements, even if the compliance officer has not communicated it, they must remove them from the position and inform this action, justifying the reasons that justify the measure to the UIF-Peru and the supervisory body when applicable, within a maximum period of five (5) business days from when they become aware of the non-compliance. In this case, the obligated subject must designate a new compliance officer who meets the requirements established in numeral 7.1 and in accordance with what is established in Article 8.
   7.3. Taking into account, among other aspects, the ML/TF risks faced by the obligated subject, the size of the organization, complexity, and volume of its operations, the UIF-Peru may exempt obligated subjects from complying with some of the requirements indicated in this article, in coordination with the supervisory body, as applicable. This exemption may be left without effect by the UIF-Peru, through communication to the obligated subject, when any of these conditions change or do not contribute to the prevention of ML/TF.

Article 8.- Designation and vacancy of the compliance officer
8.1. The designation of the compliance officer must be carried out by:

1. The obligated subject, when this is a natural person.
2. The board of directors or equivalent body when this is a legal person; or the general manager, manager, managing partner, or administrator, provided that the legal person, according to its statutes, is not obliged to have a board of directors.
3. The board of directors in the case of state-owned companies that, due to the activity they perform, are not within the scope of numeral 3.1 of Article 3 of Law No. 29038 and the norms that modify or replace it, referred to in Article 1, item 7 of the Standard.
4. By the head of the entity in the case of the National Jury of Elections, the National Office of Electoral Processes, and the State Contracting Supervisory Body, referred to in Article 1, item 7 of the Standard.
5. By the head of the entity in the case of Peru Compras.
6. By the Regional Presidency in the case of Regional Governments; and by the Mayor in the case of provincial municipalities, referred to in Article 1, item 7 of the Standard.
   8.2. The obligated subject communicates, in a confidential and reserved manner, to the supervisory body and to the UIF-Peru the designation of the compliance officer within a period not greater than fifteen (15) business days from the occurrence of the designation, through an online designation request of the compliance officer, which must be presented through the SISDEL platform (plaft.sbs.gob.pe/sisdel) or other electronic means determined by the SBS, attaching the information and documentation that substantiates said request, including the authorizations of the respective supervisory bodies, when applicable. After the respective verification and deeming it appropriate, the UIF-Peru assigns the secret codes that will serve for the identification of the compliance officer.
   8.3. The online designation request of the compliance officer has the character of a sworn statement and contains as a minimum the following information: First and last names of the person designated as compliance officer; type and number of identity document; nationality; domicile; address of the office where they work; contact data: telephone numbers and email; date of entry; position held; sworn statement on the compliance with the requirements of the compliance officer for said designation; sworn statement indicating the person or body that carried out the designation of the compliance officer, in accordance with what is provided in item 8.1 of Article 8 of the Standard, attaching a copy of the board of directors session act or equivalent body or the general meeting of shareholders, when applicable, or the document that accredits the designation according to the nature of the designator.
   8.4. Changes in the information referred to compliance officers must be communicated by the obligated subject to the supervisory body and to the UIF-Peru, within a period not greater than five (5) business days from the occurrence of the change.
   8.5. The vacancy of the compliance officer position cannot last more than thirty (30) days, from the date it occurs and must be communicated to the supervisory body and to the UIF-Peru within the period of five (5) business days from its occurrence. In case of vacancy, the obligated subject must designate a compliance officer in accordance with what is provided in Articles 6, 7, and 8 of the Standard.
   8.6. The requirements, conditions, obligations, functions, and responsibilities of the compliance officer established in this Standard are applicable to the alternate and corporate compliance officer, unless otherwise provided.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 8/14

Article 9.- Removal of the Compliance Officer

9.1. The removal of the compliance officer by the obligated subject must be supported by the reasons justifying such measure and must be approved by the person or body that appointed the compliance officer. The removal and its justification must be communicated to the supervisory body and to UIF-Peru, within a period of five (5) business days from the adoption of the decision.

9.2. In the case of the removal of the corporate compliance officer, the communication that must be sent to the supervisory bodies and to UIF-Peru must be signed by the legal representatives of each of the obligated subjects that make up the economic group.

Article 10.- Alternate Compliance Officer

In cases where it is required that an alternate compliance officer perform the functions established in this Standard, without prejudice to complying with the provisions contemplated in articles 6, 7, and 8, the following must be considered:

1. In the event of temporary absence or vacancy of the compliance officer, the alternate compliance officer performs their functions until the return or appointment of the new compliance officer, as applicable.

2. In cases where it is required that the alternate compliance officer perform the functions established in this Standard, the obligated subject must communicate this to the supervisory body and to UIF-Peru, in writing or other means determined, respectively, within a period of no less than five (5) business days prior to the temporary absence of the compliance officer or vacancy of the position, except in cases of force majeure duly justified. In the communication, the period of temporary absence, where applicable, must be indicated and a request must be made to UIF-Peru for the activation of the secret codes of the alternate compliance officer.

3. The period of temporary absence of the compliance officer cannot last more than four (4) months.

Article 11.- Corporate Compliance Officer

11.1 Obligated subjects that are part of the same economic group may designate, with prior authorization from the respective supervisory bodies and UIF-Peru and in accordance with the following subsections, a single corporate compliance officer, who must be dedicated exclusively, and meet the requirements established in this Standard.

11.2 For the authorization of the position of corporate compliance officer, the following must be met:

1. The obligated subjects must present a single authorization request to the heads of the respective supervisory bodies and to UIF-Peru, which must be signed by the legal representative of each of the obligated subjects that make up the economic group, attaching the support report referred to in article 12.

2. The supervisory bodies, if applicable, approve the request, regarding the obligated subjects that are under their supervision. The authorizations issued by the supervisory bodies must be supported by a technical report that must contain at least the analysis of complexity and volume of operations, quality of the computer tools used by the obligated subjects that make up the economic group, the level of ML/TF risk they face, if applicable, among others they consider pertinent. Each of the pronouncements of the supervisory bodies must be sent to UIF-Peru.

3. UIF-Peru issues the authorization, if applicable, regarding the entire economic group, once the corresponding supervisory bodies have issued their pronouncements.

4. The pronouncement of UIF-Peru is communicated to the obligated subjects that formulate the request for the economic group and to the respective supervisory bodies.

11.3 Additionally, in the case of authorization to have a corporate compliance officer, the obligated subjects must consider the following:

1. In the case of the appointment of a new corporate compliance officer and, provided that the economic group has not changed substantially with respect to that maintained at the time of the initial authorization, the obligated subjects that make up the economic group must present a document informing such appointment to each of the supervisory bodies and to UIF-Peru, considering what is stated in articles 7, 8, and 9.

2. The obligated subjects that make up the same economic group authorized to have a corporate compliance officer, who require incorporating a new obligated subject into the economic group, whether or not supervised by the supervisory body, must present a single authorization request to the heads of the respective supervisory bodies and to UIF-Peru, which must be signed by the legal representatives of each of the obligated subjects that make up the economic group.

11.4 The authorization to have a corporate compliance officer may be revoked by UIF-Peru, when due to the particular characteristics of the obligated subjects that make up the economic group, the authorization to have a corporate compliance officer is not justified.

Article 12.- Authorization to have a Corporate Compliance Officer

For the authorization, the obligated subject must present a report supporting the viability of having a corporate compliance officer, which must contain the following information and/or documentation:

1. The list of obligated subjects that make up the economic group, including those not supervised by the supervisory body, indicating regarding each of them: RUC number, name of the legal representative, main activity, and name of the supervisory body, if applicable.

2. Technical report signed by the legal representative of each of the obligated subjects that make up the economic group, including those not supervised by the supervisory body, supporting the viability of having a corporate compliance officer, based on the ML/TF risks they face. In this report, it must be supported that it will not harm or endanger the compliance with current regulations, the correct development and application of the prevention system of each obligated subject that integrates the economic group, whether or not supervised by the supervisory body, as well as exposing what measures will be implemented so that this does not happen.

3. The linkage existing between the obligated subjects that make up the economic group, whether or not supervised by the supervisory body, including the following information for each of them:

a. Financial statements of the last two (2) fiscal years.

b. Number of workers, suppliers, and attached establishments as of the month prior to the submission of the request.

c. Number of regular and occasional clients as of the month prior to the submission of the request.

d. Service and distribution channels.

e. Number of operations carried out in the previous year, including the medium and form of collection and/or payment.

f. System through which they register operations.

g. Others that the supervisory body and/or UIF-Peru consider pertinent.

4. The list of workers who will be in charge of the corporate compliance officer, as well as the list of corporate coordinators who work in each of the obligated subjects that are part of the economic group, who will be in charge of coordinating directly with the corporate compliance officer on all matters related to the prevention of ML/TF; without prejudice to the fact that the corporate compliance officer maintains responsibility for the AML/CFT system in each of the obligated subjects that are part of the economic group.

5. A sworn statement specifying that the corporate compliance officer will be dedicated exclusively, will have a managerial level in one of the legal entities forming the economic group, and will have the assistance of sufficient personnel.

Article 13.- Confidentiality of the Compliance Officer's Identity

13.1. The obligated subject must safeguard the identity of the compliance officer, in accordance with what is provided in article 10-A of the Law and article 18 of the Regulations. For the proper confidentiality of their identity, the appointment of the compliance officer must not be registered in the records that make up the National System of Public Registries. When the compliance officer is appointed to a managerial, administrative, or directorial position, it corresponds to register in the registry deed of the legal entity, only the pertinent part regarding the appointment to such positions.

13.2. UIF-Peru assigns secret codes, both to the obligated subject and to the compliance officer, alternate compliance officer, and/or corporate compliance officer, if applicable, after verifying the documentation and information presented to UIF-Peru by the obligated subject. All of them must adopt the necessary measures to guarantee the confidentiality of the assigned secret codes.

13.3. UIF-Peru notifies the obligated subject of the appropriateness or not of the appointment of the compliance officer, alternate compliance officer, and/or corporate compliance officer, if applicable. If the respective appointment is appropriate, the secret codes are communicated to the compliance officer, the alternate compliance officer, and/or the corporate compliance officer, as applicable, at the address of the obligated subject indicated in the respective appointment request, in accordance with the General Administrative Procedure Law.

13.4. The codes assigned by UIF-Peru serve only as identification in all communications sent to UIF-Peru, to guarantee the confidentiality of the identity of the compliance officer and the confidentiality of the information sent to UIF-Peru. In the case of a corporate compliance officer, the secret codes are assigned once the respective authorizations from the corresponding supervisory bodies have been obtained.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 11/14

Article 14.- Responsibilities and Functions of the Compliance Officer

The responsibilities and functions of the compliance officer, among others contemplated in the Regulations, are the following:

1. Be the interlocutor of the obligated subject before the supervisory body and the SBS, through UIF-Peru, on matters related to their function.

2. Monitor the adequate implementation and functioning of the ML/TF prevention system, including procedures for timely detection and reporting of suspicious operations.

3. Evaluate operations and, if applicable, qualify them as suspicious and communicate them to UIF-Peru on behalf of the obligated subject through a STR (Suspicious Transaction Report), leaving documentary evidence of the analysis and evaluations performed.

4. Keep a record of the evaluated operations that were considered unusual and that, after the respective analysis, were not determined as suspicious.

5. Identify alert signals and keep them available to the supervisory body and UIF-Peru.

6. Verify lists that contribute to the prevention of ML/TF, such as: i) OFAC List: list issued by the Office of Foreign Assets Control of the U.S. Department of the Treasury, which includes countries, persons, and/or entities that collaborate with terrorism and illicit drug trafficking. ii) UN Security Council Terrorist List, particularly the lists on persons involved in terrorist activities (Resolution No. 1267) and those that succeed it. iii) European Union Terrorist List. iv) Lists related to the Financing of Proliferation of Weapons of Mass Destruction: Lists issued by the UN Security Council. Includes at least, the Consolidated List UN Resolution 1718, on the Democratic People's Republic of Korea (North Korea) and the Consolidated List UN Resolution 1737, on Iran. v) List of Non-Cooperative Countries and Territories; vi) List of Resolutions of the UN Security Council. vii) Others indicated by the Superintendency.

7. Permanently review the lists of the UN Security Council on persons or entities designated linked to the financing of terrorism.

8. Verify, with due follow-up, the immediate execution of freezing measures dictated by the SBS, in accordance with Resolutions of the UN Security Council on terrorism and its financing, as well as the financing of the proliferation of weapons of mass destruction.

9. Verify, with due follow-up, the immediate execution of national freezing measures of funds or assets dictated by the SBS in cases linked to ML/TF crimes, in accordance with subsection 11 of article 3 of the Law.

10. Verify the adequate conservation and custody of documents related to the Acquired AML/CFT system.

11. Attend to information requests requested by competent authorities.

12. Attend to information requests, including those periodic information requests, formulated by UIF-Peru.

13. Those others that are necessary or established by the SBS, to monitor the functioning and level of compliance of the Acquired AML/CFT system.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511) 6309000 Fax: (511) 6309239 12/14

Article 15.- Suspicious Transaction Report (STR)

15.1. The obligated subject has the obligation to communicate to UIF-Peru, through its compliance officer, the operations detected in the course of its activities, carried out or attempted to be carried out, that are considered suspicious, regardless of the amounts involved. The communication must be made immediately and sufficiently, that is, within a period that in no case must exceed twenty-four (24) hours from when the operation is qualified as suspicious. The period to qualify an operation as suspicious is subject to its nature and complexity.

15.2. The compliance officer, on behalf of the obligated subject, qualifies the operation as suspicious and proceeds with its communication to UIF-Peru, leaving documentary evidence of the analysis and evaluations performed, for the qualification of an operation as unusual or suspicious, as well as the reason why an unusual operation was not qualified as suspicious and reported to UIF-Peru, if applicable.

Article 16.- Conservation of Documents

16.1. Obligated subjects must conserve the information and documentation related to the Acquired AML/CFT system for a period of no less than five (5) years, which comprises the documentary support of the analysis and evaluations performed, for the qualification of an operation as unusual or suspicious.

16.2. For the conservation of documents, computer media are used that allow easy recovery of the information for consultation and internal or external reporting to competent authorities in accordance with the Law, and must be available to the supervisory body and UIF-Peru.

Article 17.- Loss of Status as Obligated Subject

17.1 In the event that the obligated subject loses such status because it ceases to exercise the activity or because it has a final resolution that cancels or revokes the authorization for the exercise of the function or activity, it must communicate this in writing as a sworn declaration to the supervisory body, within a period of no more than thirty (30) days from the occurrence of the event or from notification to the obligated subject of the final resolution.

17.2 Within fifteen (15) days following the receipt of such communication, the supervisory body verifies the loss of such status and communicates: 1) to the obligated subject to proceed with the delivery of the documentary archive on ML/TF, within a period of no more than thirty (30) days of receiving the communication from the supervisory body after verifying the loss of such status; and, 2) to UIF-Peru to proceed with the cancellation of the secret codes assigned to the obligated subject and the compliance officer, within a period that must not exceed ten (10) days of receiving the communication from the supervisory body after verifying the loss of such status by the obligated subject.

Article 18.- Duty of Confidentiality and Exemption from Liability

18.1 The communications, operations, and other information of the Acquired System for the Prevention of ML/TF referred to in this standard have a confidential character and all those involved are prevented from informing any person, entity, or organism, under any means or modality, that such information has been requested and/or provided to UIF-Peru, except judicial body or competent authority in accordance with the Law, under the corresponding administrative, civil, and criminal responsibilities.

18.2 In accordance with article 13 of the Law, the obligated subject and its workers are exempt from criminal, civil, and administrative responsibility, as applicable, derived from the due compliance with current regulations on the prevention of ML/TF.

Article 2.- Obligated subjects who, on the date of entry into force of the Standard for the prevention of money laundering and terrorist financing, applicable to obligated subjects under the acquired system for the prevention of money laundering and terrorist financing, have authorization to have a corporate compliance officer, must adapt to what is provided in the aforementioned standard, within a period of sixty (60) business days counted from its entry into force, in order to maintain the respective authorization valid. If they meet the requirements established in said standard, a sworn declaration to that effect must be sent to the supervisory bodies and to UIF-Peru; otherwise, the respective supporting documentation and/or the new appointment must be sent, if applicable; this, without prejudice to the ex officio evaluation carried out by UIF-Peru.

Obligated subjects nationwide, whose requests for authorization to have a corporate compliance officer, which on the date of entry into force of this standard are pending, must present the supporting documentation that accredits compliance with the requirements established in this standard.

Article 3.- The Regulation of Infractions and Sanctions in the matter of prevention of money laundering and terrorist financing, approved by Resolution SBS No. 8930-2012 and its modifying norms, is applicable to obligated subjects under the scope of the Standard for the prevention of money laundering and terrorist financing, applicable to obligated subjects under the acquired system for the prevention of money laundering and terrorist financing.

Article 4.- This Resolution enters into force the day after its publication in the Official Journal El Peruano, date from which the following obligated subjects are excluded from the scope of article 1 of the Standard for the Prevention of Money Laundering and Terrorist Financing approved by Resolution SBS No. 486-2008:

“Article 1.- Scope

(…)

A. Legal persons that:

1. Receive donations or contributions from third parties, provided they are not supervised by APCI or the Council of Supervision of Foundations.

B. Natural and legal persons who dedicate themselves to:

(…)

4. The trade of antiques.

(…)

8. The management of interests in public administration, according to Law No. 28024.

(…)

10. Public auctioneers.

(…)”.

Register, communicate, and publish.

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