Resolution SBS No. 435-2005: Approves Title IX of the Compendium of Standards for the Private Pension Fund System Regarding Accounting Manuals for Pension Fund Administrators and Managed Portfolios

Lima, March 15, 2005
Superintendent Resolution
No. 435-2005
The Superintendent of Banking and Insurance

CONSIDERING:

That Supreme Decree No. 054-97-EF and its amendments, which approved the Single Consolidated Text of the Law of the Private System for the Administration of Pension Funds, establishes the operations that may be carried out by private pension fund administrators;

That an adequate accounting record of such operations allows reflecting the true economic and financial situation of private pension fund administrators and the portfolios they manage, facilitating the supervision work of this regulatory body;

That it corresponds to this Superintendency to establish the standards for adequate recording of the operations carried out by supervised companies;

Having heard the opinions of the Adjunct Superintendencies of Private Pension Fund Administrators, Legal Advice, and Risks, as well as the Economic Studies and Organization and Systems Directorates; and,

In exercise of the powers conferred by numbers 9 and 13 of Article 349 of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendent of Banking and Insurance - Law No. 26702 and its amendments, and subsection d) of Article 57 of the Single Consolidated Text of the Law of the Private System for the Administration of Pension Funds;

RESOLVES:

Article 1.- Replace the provisions set forth in Title IX of the Compendium of Regulatory Standards of the Superintendent of the Private System for the Administration of Pension Funds, approved by Resolution No. 144-98-EF/SAFP and its amendments, with the Accounting Manual for Private Pension Fund Administrators and the Accounting Manual for Managed Portfolios, which form an integral part of this Resolution.

Article 2.- The financial statements of Private Pension Fund Administrators and Managed Portfolios, as well as the notes to said financial statements and the complementary information thereto, must be submitted to this Superintendency in printed form. The trial balances of Private Pension Fund Administrators and Managed Portfolios must be submitted to this Superintendency through the External Capture and Validation Submodule (SUCAVE).

Article 3.- This Resolution shall enter into force on the first day of the month following the expiration of ninety (90) calendar days from its publication.

Register, communicate, and publish

JUAN JOSÉ MARTHANS LEÓN
Superintendent of Banking and Insurance