Resolution SBS No. 3880-2016: Amending Article 4 of the Rule Regulating the Procedure for Handling Requests for Lifting of Bank Secrecy Approved by Resolution SBS No. 1132-2015

Los Laureles No. 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239

Lima, July 14, 2016.

S.B.S. Resolution
No. 3880-2016

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators (e)

WHEREAS:

That, as established in Article 140 of Law No. 26702, General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance (General Law), bank secrecy implies the prohibition on financial system companies (companies), as well as their directors and employees, from providing any information on passive operations with their clients, unless there is written authorization from them or it is one of the cases set forth in Articles 142 and 143 of the same law;

That, pursuant to Article 143 of the General Law, bank secrecy does not apply and may be lifted when the information is required by Judges and Courts in the regular exercise of their functions and with specific reference to a determined process, in which the client of the company to which the request refers is a party; by the Attorney General of the Nation, in cases of presumption of illicit enrichment of public officials and servants or of those who administer or have administered State resources or of agencies to which the State provides economic support; likewise, by the Attorney General of the Nation or the government of a country with which a convention to combat, suppress and sanction illicit drug trafficking or terrorism is in force, or in general in the case of suspicious movements of asset laundering; by the President of an Investigative Commission of the Legislative Branch, with the agreement of the Commission in question and in relation to facts that compromise the public interest; by the Superintendent of the Superintendency of Banking, Insurance and Private Pension Fund Administrators (Superintendency), in the exercise of its supervisory functions, as well as within the framework of the powers established in Article 6 of the Law for the Strengthening of the Supervision of the Securities Market, Law No. 29782;

That, by SBS Resolution No. 1132-2015, the rule regulating the procedure for handling requests for lifting of bank secrecy made by authorized authorities was approved, which must be followed by companies that capture public resources under the scope of regulation and/or supervision of the Superintendency, whether or not they channel it through the Superintendency;

That, it is necessary to amend the aforementioned rule in order to specify the information required for handling requests for lifting of bank secrecy;

Los Laureles No. 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 2/2

With the approval of the Financial Intelligence Unit of Peru, the Deputy Superintendency of Banking and Microfinance and the Deputy Superintendency of Legal Affairs;

In use of the powers conferred by Law No. 29038 and Law No. 26702, in accordance with Law No. 27693, its amending and regulatory provisions;

RESOLVES:

Article One.- Amend Article 4 of the Rule regulating the procedure for handling requests for lifting of bank secrecy, approved by SBS Resolution No. 1132-2015, in the following terms:

"Article 4.- Receipt and processing of requests for lifting of bank secrecy and sending to companies

Requests for lifting of bank secrecy, in accordance with the provisions of Article 143 of the General Law, are submitted through a duly substantiated written communication, to which the documentation supporting the request is attached.

The communication from the competent authority must specifically indicate:

a) The full name or corporate name of the natural or legal persons, national or foreign; and/or the account number, with respect to which the lifting of bank secrecy is requested.

The type and number of the identity document or RUC shall be indicated; nationality and/or country of issuance of the identity document of foreign persons, in cases where this information is available.

b) The information requested, the offense under investigation and the identification of the case, investigation or process for which it is requested; as well as the specific period of the passive operations with respect to which information is required and the updated address to which the requested information will be sent.

When the request is channeled through the Superintendency, it sends the requirement to the corresponding companies, within a period no greater than seven (7) business days.

Article Two.- This resolution enters into force on the day following its publication in the Official Gazette El Peruano.

Register, communicate and publish.

JAVIER POGGI CAMPODONICO
Superintendent of Banking, Insurance and
Private Pension Fund Administrators (e)