Resolution SBS No. 486-2008: Approving the Standard for the Prevention of Money Laundering and Terrorist Financing, of General Application to Obliged Subjects Supervised by the UIF-Peru

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 Lima, March 05, 2008

Resolution S.B.S.
No. 486-2008

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

CONSIDERING:

That, through Law No. 27693 and its modifying norms, the Financial Intelligence Unit of Peru (UIF-Peru) was created, charged with receiving, analyzing, processing, evaluating, and transmitting information for the detection of money laundering and terrorist financing, for which purpose the list of obliged subjects required to report suspicious operations was established;

That, according to what is established in letters c) and d) of article 10.2.3 of Law No. 27693 and its modifying norms, the UIF-Peru has the status of supervisory body with respect to those obliged subjects required to report to it that do not have one, corresponding to it to sanction them for non-compliance with the obligations provided for in said law or its regulations;

That, in accordance with article 17 of the Regulation of Law No. 27693, approved by Supreme Decree No. 018-2006-JUS, it corresponds to the supervisory bodies of the obliged subjects to report, to exercise the supervision function of the system for the prevention of money laundering and terrorist financing, for which they must issue the norms that are necessary in order to establish requirements and clarifications to the principles, obligations, and other scopes established in the Law that creates the UIF-Peru and its regulation, considering the particular characteristics of each of the obliged subjects;

That, through Law No. 29038, the incorporation of the UIF-Peru into the Superintendence of Banks, Insurance, and Private Pension Fund Administrators (SBS) was ordered, as a specialized unit, so that the SBS, in addition to its own functions, has assumed the competencies, attributions, and functions that corresponded to said institution;

That, consequently, it is necessary to approve the Standards for the Prevention of Money Laundering and Terrorist Financing, applicable to natural and legal persons considered as obliged subjects to report to the UIF-Peru, which lack supervisory bodies;

That, likewise and based on the particular characteristics of the obliged subjects under the supervision of the UIF-Peru, it is necessary to establish the parameters for the registration of operations referred to in article 6 of the Regulation of Law No. 27693;

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 Having heard the opinion of the Financial Intelligence Unit of Peru and the Adjunct Superintendence of Legal Advice;

In exercise of the powers conferred by Law No. 29038 and Law No. 26702, and in concordance with Law No. 27693 and its modifying norms;

RESOLVES:

Article First.- Approve the Standard for the Prevention of Money Laundering and Terrorist Financing of general application to obliged subjects to report that lack supervisory bodies, in accordance with what is provided in letter c) of article 10.2.3 of Law No. 27693, which forms an integral part of this Resolution.

Article Second.- Through specific provisions, special regulations may be approved taking into account the particular characteristics of certain obliged subjects to report that lack supervisory bodies.

Article Third.- This Resolution will enter into force the day following its publication in the Official Gazette El Peruano. However, an adaptation period of sixty (60) calendar days is granted, calculated from the day of the entry into force of this resolution.

Register, communicate, and publish.

FELIPE TAM FOX
Superintendent of Banks, Insurance, and
Private Pension Fund Administrators

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 STANDARD FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING OF GENERAL APPLICATION TO OBLIGED SUBJECTS TO REPORT UNDER SUPERVISION OF THE FINANCIAL INTELLIGENCE UNIT OF PERU

TITLE I
OF GENERAL PROVISIONS

Article 1.- Scope 1
This standard is applicable to persons considered as obliged subjects to report to the Financial Intelligence Unit of Peru (UIF-Peru), as provided in article 3 of Law No. 29038, that do not have supervisory bodies, as indicated below:

A. Legal persons that:

1. 2

B. Natural and legal persons dedicated to:
2. The purchase and sale of vehicles.
3. The purchase and sale of foreign currency.
4. The trade of coins, postage stamps 3
.
5. The trade of jewelry, metals, and precious stones.
6. The trade of art objects.
7. 4
8. 5
9. The construction activity, the real estate activity, or both.
10. 6
11. The marketing or rental of machinery and equipment included in National Subheadings No. 84.29, No. 85.02, and No. 87.01 of the National Tariff Classification, according to the Annex containing the list of machinery and equipment.

The Superintendence may modify, reduce, or expand the list of obliged subjects to provide information to the UIF-Peru.

Article 2.- Definitions 7

Article modified by Resolution SBS No. 14998-2009 of November 12, 2009, and subsequently modified by Resolution SBS No. 6729-2014 of October 9, 2014.
Subparagraph repealed by Resolution SBS No. 369-2018 of February 3, 2018.
Subparagraph modified by Resolution SBS No. 369-2018 of February 3, 2018.
4 Subparagraph repealed by Resolution SBS No. 4463-2016 of August 20, 2016.
Subparagraph repealed by Resolution SBS No. 369-2018 of February 3, 2018.
Subparagraph repealed by Resolution SBS No. 369-2018 of February 3, 2018.
7 Article modified by Resolution SBS No. 14998-2009 of November 12, 2009.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 For the purposes of the application of this standard, the following shall be understood:

a) BENEFICIAL OWNER: Any natural person who, without necessarily having the status of client, is the owner or recipient of the good or service provided by the obliged subject, or is authorized or empowered to dispose of it.

b) GOOD JUDGMENT.- The discernment or judgment formed, at least based on knowledge of the client and the market. It encompasses the experience, training, and commitment of the obliged subject and its workers, in the prevention of money laundering and terrorist financing.

c) TERRORIST FINANCING.- Crime typified in letter f) of article 4 of Legislative Decree No. 25475 and its modifying norms.

d) ECONOMIC GROUP: The set of two or more legal persons, national or foreign, in which one of them exercises control over the others, or when control over the legal persons corresponds to one or more natural persons acting as a decision-making unit.

e) MONEY LAUNDERING.- Crime typified in Law No. 27765, Criminal Law against Money Laundering, and its modifying norms.

f) LAW.- Law No. 27693 - Law that creates the Financial Intelligence Unit of Peru and its modifying norms.

g) OFAC List.- List issued by the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC), which includes countries, persons, and/or entities that, in the opinion of the USA, collaborate with terrorism and illicit drug trafficking.

h) MANUAL.- Manual for the Prevention of Money Laundering and Terrorist Financing.

i) UNUSUAL OPERATIONS.- Those whose amount, particular characteristics, and periodicity do not relate to the client's economic activity, fall outside the parameters of normality current in the market, or have no evident legal basis.

j) SUSPICIOUS OPERATIONS.- Those unusual operations carried out or intended to be carried out, of a civil, commercial, or financial nature, that have an unusual magnitude or speed of rotation, or conditions of unusual or unjustified complexity, which, based on the information collected, in accordance with the norms on "client knowledge," are presumed to proceed from some illicit activity, or that, for any reason, do not have an apparent economic or lawful basis; and that could be linked to money laundering or terrorist financing.

k) POLITICALLY EXPOSED PERSONS (PEP).- Those natural persons who hold or have held prominent public functions in the last two (2) years, either within the national territory or abroad, and whose financial circumstances may be subject to public interest. Includes their relatives up to the second degree of consanguinity, second degree of affinity, and spouse or concubine.

l) REGULATION.- Regulation of the Law that creates the UIF-Peru, approved by Supreme Decree No. 018-2006-JUS.

m) OBLIGED SUBJECTS.- All those natural and legal persons obliged to report to the Financial Intelligence Unit of Peru, who are dedicated to any of the activities provided for in subparagraphs 3.1 and 3.2 of article 3 of Law No. 29038 and lack a supervisory body for the activities they perform.

n) SUPERINTENDENCE.- Superintendence of Banks, Insurance, and Private Pension Fund Administrators.

o) WORKER.- Any individual who, regardless of the labor regime in which they are, develops permanent activities, without prejudice to the labor or contractual link with the obliged subject.

p) UIF-Peru.- Financial Intelligence Unit of Peru, specialized unit of the Superintendence.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239
Article 3.- System for the Prevention of Money Laundering and Terrorist Financing

The System for the Prevention of Money Laundering and Terrorist Financing is composed of the policies and procedures established by the obliged subjects in accordance with the Law, the Regulation, and other provisions on the matter; which must be applied by the obliged subject itself, its personnel, as well as by shareholders, partners or associates, directors, legal representatives, and special attorneys in case the obliged subject is a legal person, according to the functions that correspond to them, having in mind for this purpose the Code of Conduct and the Manual approved for said effect, in accordance with this standard and other provisions on the matter.

In this context, it corresponds to the obliged subjects, their workers, and particularly to the Compliance Officers, to ensure compliance with this standard and other provisions on the prevention of money laundering and/or terrorist financing.

The implementation of this System seeks to prevent and avoid that the activities they develop or the services the obliged subjects provide to the public are used for illicit purposes linked to money laundering or terrorist financing, allowing the detection of unusual operations and suspicious operations carried out or attempted to be carried out, to report them to the UIF-Peru, within the legal deadline established.

Article 4.- Communications to the UIF-Peru

All reports, records, and other communications that the Compliance Officer must send to the UIF-Peru in accordance with this standard, will be identified only with the code or secret key assigned to it and to the obliged subject, adopting measures that allow the confidentiality of the information and the identity of its senders.

Obliged subjects must be able to attend, within the deadline requested of them, the information requests or expansion of information from the UIF-Peru or another competent authority in accordance with current norms. For this purpose, obliged subjects will provide the required information in accordance with the Law, for investigations or processes that are being carried out related to money laundering or terrorist financing.

The Superintendence may establish the sending to the UIF-Peru of operation records, annual reports, and Suspicious Operations Reports (SOS) by magnetic media or via Internet, which will be communicated to the Compliance Officers, in due course.

The communications to which this standard refers are subject to the duty of confidentiality. Consequently, no one involved in them may make known to third parties that such information has been requested or provided to the UIF-Peru.

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Article 5.- Annual Training 8

Obliged subjects constituted as legal persons must have an annual training program that allows their compliance officers, workers, as well as the General Manager, Managers, Administrator, or whoever acts in their place, to be instructed in matters of prevention of money laundering and terrorist financing, receiving at least one (1) training per year.

The trainings may be given to the workers of the obliged subject and to those who hold any of the positions referred to in the preceding paragraph by the Compliance Officer through any physical or computerized means or modality that it considers convenient. In these cases, the Compliance Officer will issue a Certificate with the character of a Sworn Declaration indicating the date, day, place, and duration of said activity, the names of the participants, positions they hold, and the syllabus. A copy of said certificate will be incorporated into each of the personal files of those who participated.

New workers, members of the Board of Directors or the Executive Board, as appropriate, as well as the General Manager, Managers, Administrator, or whoever acts in their place, must be informed by the Compliance Officer about the scope of the System for the Prevention of Money Laundering and Terrorist Financing of the obliged subject, within thirty (30) days following the date of entry.

When obliged subjects are natural persons, they must receive at least (1) one training per year, which may be given by the Compliance Officer, who in this case will issue the Certificate referred to in the second paragraph of this article, being able to use for such effect, the training modules in this matter that other entities use.

TITLE II
OF THE SYSTEM FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

CHAPTER I
OF CLIENT AND EMPLOYEE KNOWLEDGE

Article 6.- Clients 9

Clients are all natural and legal persons to whom the obliged subject provides any service proper to its business or commercial activity. The Law, the Regulation, and this standard are applicable to all clients of the obliged subject, whether habitual or occasional, national or foreign. For the purposes of information request and registration, in addition to the client, their representative or principal will be considered.

In the case of Public Auctioneers, the natural or legal person who acquires the good or goods subject to auction or public bid will be considered a client, so that client knowledge policies must

8 Article modified by Resolution SBS No. 14998-2009 of November 12, 2009.
9 Article modified by Resolution SBS No. 14998-2009.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 apply to the knowledge of the bidder and/or beneficiary of the good or goods subject to auction or public bid.

It corresponds to the obliged subject to adopt reasonable measures to identify the beneficial owners of the good or service it provides, to the extent that its due diligence allows.

Article 7.- Client Knowledge 10

Client knowledge requires from obliged subjects, the reliable identification of the client, which will be accredited:

1. When the client is a natural person:
   a) In the case of nationals, with the presentation of the national identity document. b) In the case of non-resident foreigners, with the presentation of the passport. c) In the case of resident foreigners, with the presentation of the Foreigner's ID Card.

2. When the client is a legal person:
   a) The name or trade name. b) The Unique Taxpayer Registry number - RUC. c) Legal domicile. d) First and last names of the person acting in said transaction representing the legal person, in which case, in addition, the corresponding identity document will be required, according to subparagraph 1 above.

Obliged subjects must reinforce their client knowledge procedures when dealing with non-domiciled companies, politically exposed persons (PEP), and others that, in their judgment, they consider necessary or that the Superintendence determines.

Article 8.- Employee Knowledge 11

Obliged subjects must ensure that their workers have a high level of integrity, gathering information about their personal, labor, and patrimonial backgrounds.

Obliged subjects will keep a personal file for each worker, which will be available to the UIF-Peru when requested, and will contain the following minimum information:

1. Curriculum vitae with recent photograph, which will have the character of a sworn declaration.
2. Copy of the national identity document and, if applicable, of the documents legally established for the identification of foreigners.
3. Sworn Declaration of not having police or criminal records.
4. Sworn Declaration of having taken knowledge of and complying with the Code of Conduct and the Manual for the Prevention of Money Laundering and Terrorist Financing.
5. Copies of the certificates that prove the training referred to in article 5.
6. Sanctions for non-compliance with internal norms imposed by the obliged subject.
7. Others determined by the obliged subject or the Superintendence.

10 Article modified by Resolution SBS No. 14998-2009.
11 Article modified by Resolution SBS No. 14998-2009 of November 12, 2009.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239
CHAPTER II
OF THE REGISTRATION OF OPERATIONS

Article 9.- Of the Registration of Operations (ROP) 12

Obliged subjects, for the purpose of controlling the operations they perform, must maintain a register of their clients who carry out operations for amounts equal to or greater than ten thousand US dollars (US$ 10,000.00), its equivalent in national currency or other currencies, if applicable.

Likewise, they will register multiple operations that in total equal or exceed fifty thousand US dollars (US$ 50,000.00), its equivalent in national currency or other currencies, if applicable, when carried out by or for the benefit of the same person during a calendar month, in which case they will be considered as a single operation. The exchange rate applicable to fix the equivalent in national currency or other currencies will be obtained by averaging the daily selling exchange rates, corresponding to the month prior to the operation, published by the Superintendence.

The registration of the operation does not imply that the client has carried out an unusual or suspicious operation, nor that it must be reported to the UIF-Peru.

For the case of the following obliged subjects, the thresholds for the registration of operations indicated below are established:

12 Article modified by Resolution SBS No. 14998-2009 of November 12, 2009.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 The registration can be carried out through manual or computerized systems and will contain the minimum information referred to in Annex No. 2 - Form for the Registration of Operations (ROP), which may be used for such effect by the obliged subjects. Nevertheless, by exception, the UIF-Peru may determine the cases in which obliged subjects may replace this registration, in whole or in part, with another official administrative register that they are obliged to keep.

The amounts established in the first paragraph of this article may vary based on the particular characteristics of the obliged subject, as expressly determined by the Superintendence. The Superintendence may request the obliged subject to send partial or total ROP, when it deems necessary, through the means determined by it.

For the purposes of operation registration, the obliged subject, according to its good judgment, may set thresholds lower than those it is required to apply in accordance with what is provided in this article.

Article 10.- Conservation and Availability of the Registration of Operations

Obliged subjects must keep the Registration of Operations updated chronologically from the day the operation was carried out and for a period of five (5) years, adopting the necessary measures to guarantee its conservation, including a backup copy on magnetic media that allows its easy recovery.

In any case, the Registration of Operations will be available to the UIF-Peru, within the deadline and form determined by it.

Article 11.- Non-Exclusion from the Registration of Operations

Obliged subjects may not exclude any client from the registration of operations, regardless of the habitual nature and knowledge of the same.

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

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CHAPTER III
ON THE COMMUNICATION OF SUSPICIOUS OPERATIONS

Article 12.- Report of Suspicious Operations (ROS) 13

Without prejudice to the amounts involved, obligated subjects must communicate to the UIF-Peru operations detected in the course of their activities, which have been carried out or attempted to be carried out, that in their good judgment are considered suspicious, within a period not exceeding thirty (30) calendar days from their detection.

An operation is considered detected as suspicious when, having previously identified an operation as unusual (outside the client's usual pattern), after the analysis and evaluation performed by the Compliance Officer, they may presume that the funds or goods used proceed from some illicit activity, or that, for any reason, they do not have an apparent economic or lawful basis. The Compliance Officer must leave documentary evidence of the analysis and evaluations performed to qualify an operation as suspicious or not.

Annex No. 1 titled "Alert Signals" contains a list of this type of signals that obligated subjects must take into account for the purpose of detecting suspicious operations, considering unusual operations or conduct of clients and workers of the obligated subject; this does not exempt them from communicating other operations they consider suspicious according to their money laundering and terrorist financing prevention system, and in particular, taking into account operations or situations related to the business or activity of the obligated subject. Without prejudice to this, the UIF-Peru may provide obligated subjects with additional information or criteria that contribute to the detection of unusual or suspicious operations.

The Report of Suspicious Operations (ROS) must contain the minimum information referred to in Annex No. 3 of this standard, which obligated subjects may use for the respective communication to the UIF-Peru.

CHAPTER IV
ON THE MANUAL AND CODE OF CONDUCT FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

Article 13.- Manual for the Prevention of Money Laundering and Terrorist Financing 14

The Manual will contain the policies, mechanisms, and procedures established for the prevention of money laundering and terrorist financing, in compliance with the Law, its Regulations, and other provisions issued on the matter, and will contain at least the information indicated in Annex No. 4 - "Basic Content of the Manual for the Prevention of Money Laundering and Terrorist Financing". The "Alert Signals" developed by the obligated subject based on what is established in Annex No. 1 of this standard must be incorporated into the manual.

13 Article modified by SBS Resolution No. 14998-2009 of November 12, 2009.
14 Article modified by SBS Resolution No. 14998-2009 of November 12, 2009.

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The Manual must be disseminated among the personnel of the obligated subject, including themselves if the subject is a natural person, and among its shareholders, partners, associates, directors, managers, administrators, attorneys, or legal representatives, if the obligated subject is a legal entity; its update is permanent and will be available to the UIF-Peru when so required.

In the case of a legal entity, the Manual must be approved by the Board of Directors or the Executive Board, as applicable; by the General Manager, Manager, Proprietor-Manager, or Administrator, as applicable, provided that the legal entity is not obliged to have a Board of Directors. In the case of a natural person, the approval of the Manual falls to the holder of the activity.

Article 14.- Code of Conduct

Obligated subjects must necessarily approve a code of conduct aimed at ensuring the proper functioning of the Money Laundering and Terrorist Financing Prevention System, which contains, among other aspects, the guiding principles, values, and policies that must be applied to manage the risk of exposure to money laundering and terrorist financing.

The code of conduct must highlight the mandatory nature of the procedures that integrate the Money Laundering and Terrorist Financing Prevention System in accordance with current regulations on the matter and specify, if applicable, those particular details to which officials and employees must adhere in accordance with the operationality or business of the entity.

CHAPTER V
ON THE SUPERVISION OF THE MONEY LAUNDERING AND TERRORIST FINANCING PREVENTION SYSTEM

Article 15.- Compliance Officer 15

In exercising the control and supervision labor of the money laundering and terrorist financing prevention system, the Superintendency, through the UIF-Peru, will use not only its own supervision mechanisms but also, additionally, will rely on the Compliance Officer and, if applicable, on internal auditors and external audit firms, provided that obligated subjects have them.

The Compliance Officer is the natural person responsible for monitoring the adequate implementation and functioning of the money laundering and terrorist financing prevention system of the obligated subject. The Compliance Officer may be the obligated subject itself when it is a natural person.

When the Compliance Officer is a person distinct from the obligated subject, it is required that they be of their absolute trust, depend laborally on the obligated subject, and enjoy autonomy and independence in the exercise of the responsibilities and functions assigned to them for such effect by the Law, the Regulations, and this standard, without prejudice to complying with the requirements referred to in Article 16, which must be accredited before the obligated subject. When the obligated subject is a legal entity, the designation of the Compliance Officer must be carried out by the Board of Directors or the Executive Board, as applicable; if the legal entity is not obliged to have a Board of Directors, the Compliance Officer will be designated by the General Manager, Manager, Proprietor-Manager, Administrator, or equivalent bodies, as applicable.

The Compliance Officers of the obligated subjects referred to in this standard may be part-time, sufficient for this being an express communication to the Superintendency, through the UIF-Peru, in which the designation of the person who will act as such must be recorded; however, given the characteristics of their operations, the Superintendency, through the UIF-Peru, may determine the particular cases in which the Compliance Officer must be full-time, taking into consideration, among other aspects, the size of the organization, its complexity, level of operational, administrative, and legal risks, as well as the average volume of transactions or operations, number of staff, asset movement, in addition to the particular characteristics of the obligated subject. In these cases, the Superintendency, through the UIF-Peru, will require the necessary complementary information and will communicate such decision by resolution. The designation of the Compliance Officer does not exempt the obligated subject, nor its workers, directors, shareholders, partners, associates, managers, nor representatives or legal attorneys, from the obligation to apply the policies and procedures of the money laundering and terrorist financing prevention system, respectively.

The General Manager, Proprietor-Manager, Administrator, or whoever acts in their place as provided by the social statutes of the obligated subject, or the obligated subject itself in the case of a natural person, by letter addressed to the Assistant Superintendent of the UIF-Peru, within a period not exceeding five (5) business days from the occurrence of the designation of the Compliance Officer, will communicate it attaching the supporting documentation referred to in Article 16 of this standard, as well as a copy of the Board of Directors or Executive Board meeting minutes, if applicable. In the case of removal, the communication will indicate the reasons justifying the measure. The vacancy situation cannot last more than ten (10) calendar days.

For the proper reservation of their identity, the designation of the Compliance Officer must not be inscribed in the registries that make up the National System of Public Registries. When the Compliance Officer is designated in a managerial, administrative, or directorial position, it will correspond to inscribe in the Registry Deed of the legal entity, only the pertinent part regarding the designation in the respective position.

Article 16.- Requirements of the Compliance Officer 16

The Compliance Officer must meet, at least, the following requirements:

a) Have a minimum experience of one (1) year in the activities of the subject, accredited in their Resume, duly documented. This restriction will not be applicable in the case of Public Auctioneers with less than one (1) year since assuming the position.

b) Not have been convicted for the commission of intentional crime(s).

c) Not have been dismissed from public office or dismissed from it for serious fault.

d) Not be or have been an internal auditor of the obligated subject, during the six (6) months prior to their designation.

e) Not have overdue debts for more than one hundred twenty (120) days in the financial system or in judicial collection.

15 Article modified by SBS Resolution No. 14998-2009 of November 12, 2009.

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f) Not have been declared bankrupt.

g) Others established by the Superintendency.

The minimum requirements referred to in this article may be accredited with sworn statements, with the exception of the requirement established in item a), which must have due support.

Article 16-A.- On the Corporate Compliance Officer 17

Obligated subjects that form part of the same economic group may appoint a single Corporate Compliance Officer, for which they must have the express approval of the Superintendency, and if applicable, of the heads of the supervisory bodies of the other obligated subjects that make up the economic group, which are not supervised by the Superintendency. The Compliance Officer is the only responsible for the prevention system of each of the obligated subjects that form part of the economic group.

For the approval of the position of Corporate Compliance Officer, obligated subjects must present an authorization request addressed to the Assistant Superintendent of the UIF-Peru, attaching the following information:

1. The list of companies that make up the economic group.

2. The Report that supports the viability of having a Corporate Compliance Officer for the entire economic group, based on the money laundering and terrorist financing risks they face, and that it will not harm or endanger compliance with current regulations and the correct application of the prevention systems of the obligated subjects that make up said economic group.

3. Undocumented Resume of the Corporate Compliance Officer, as a sworn statement.

4. Sworn Statement indicating that the appointment of the Corporate Compliance Officer has the approval of each of the obligated subjects that make up the economic group.

5. If any of the obligated subjects that make up the economic group is supervised by an organism other than the Superintendency, a copy of the authorization or authorizations issued by the competent supervisory organisms must be attached, so that those under their supervision have a Corporate Compliance Officer. A copy of the submission charges of said requests may be attached to prove that they are in process. In any case, the Superintendency will not rule until the presentation of the respective authorizations.

6. Documentation accrediting the requirements referred to in Article 16 of this standard.

The Assistant Superintendent of the UIF-Peru will resolve the request based on the information presented, the reports issued by the competent areas of the Superintendency, if applicable, the authorizations of the other supervisory organisms, if applicable, and their own evaluation carried out by virtue of the information on their database.

In the case of replacement of the person occupying the position of Corporate Compliance Officer and, provided that the economic group has not changed substantially with respect to that maintained at the time of the initial approval, obligated subjects must inform said replacement to the Assistant Superintendent of the UIF-Peru attaching the documentation detailed in items 3, 4, and 6 of this article.

16 Article modified by SBS Resolution No. 14998-2009 of November 12, 2009.

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Article 17.- Responsibilities of the Compliance Officer 18

The responsibilities of the Compliance Officer are the following:

a. Monitor compliance with the system to detect suspicious operations of money laundering and terrorist financing.

b. Verify the application of policies and procedures implemented for the knowledge of the client and the worker.

c. Define strategies to prevent money laundering and terrorist financing in their sector.

d. Propose alert signals to be incorporated into the Prevention Manual in this matter.

e. Analyze unusual operations detected, for the purpose of determining operations that could be qualified as suspicious and, if applicable, report them to the UIF-Peru through the ROS, keeping control of them.

f. Adopt the necessary actions to ensure their training, that of the personnel, and of the obligated subject, if applicable, in matters of money laundering and terrorist financing prevention.

g. Be the interlocutor of the obligated subject before the UIF-Peru.

h. Issue annual reports on the situation of the prevention system in general and its compliance.

i. Safeguard records and other documents required for the prevention of money laundering and terrorist financing.

j. Periodically review on the FATF website (www.fatf-gafi.org) the list of non-cooperative countries and territories, as well as the OFAC list, adopting the necessary preventive measures.

k. Periodically review on the United Nations website (www.un.org/es), the lists on persons and companies or entities involved in terrorist activities or financing them, especially those issued by the United Nations Security Council, within the framework of Chapter VII of the UN Charter; in case any of them is or has been a client of the obligated subject, they will adopt the necessary preventive measures, informing said cases to the UIF-Peru.

l. Periodically review on the Superintendency website (www.sbs.gob.pe) the list of Politically Exposed Persons (PEP).

m. Those others that are necessary to monitor the functioning and level of compliance of the money laundering and terrorist financing prevention system.

Article 18.- Annual Report of the Compliance Officer

The Compliance Officer will issue an annual report representing the annual evaluation on the adequacy and compliance of the policies and procedures of the obligated subject, containing at least the following:

a. Annual statistics of unusual operations and ROS sent to the UIF-Peru, discriminating information by month, type of operations, and amounts involved, among others they consider significant.

b. Description of new typologies of unusual operations and suspicious operations detected and reported, if any.

c. Client and worker knowledge policies.

17 Article incorporated by SBS Resolution No. 14998-2009 of November 12, 2009.

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d. Number of annual trainings received by the obligated subject (natural person), its workers, and Compliance Officer, in matters of Money Laundering and Terrorist Financing Prevention, including a brief description of the training and the number of workers trained.

e. Detail of activities carried out for the compliance with the Code of Conduct and Manual for the Prevention of Money Laundering and Terrorist Financing, indicating cases of non-compliance and corrective measures adopted and modifications to them.

f. List of the main activities carried out for the compliance with regulations relative to the Operations Register.

g. Maintenance of operation records for the legal period.

h. Verification of personnel files, regarding their content and update.

i. Actions adopted regarding observations that the UIF-Peru may have formulated, if applicable, and the timeliness of these.

j. Others that the Compliance Officer considers relevant.

k. Others determined by the UIF-Peru through communication to the Compliance Officer.

Article 19.- Deadlines for the presentation of Compliance Officer reports

The annual report will be made known to the obligated subject within thirty (30) calendar days following the expiration of the calendar year and sent to the UIF-Peru within fifteen (15) calendar days following the date of the aforementioned communication.

In case the obligated subject is a legal entity, the annual report will be addressed to the Board of Directors and, if it does not have one, to the General Manager, administrator, or whoever acts in their place.

Article 20.- Annexes 19

The following form an integral part of this standard:

Annex No. 1: Alert Signals
Annex No. 2: Form for the Registration of Operations (ROP)
Annex No. 3: Form for the Report of Suspicious Operations (ROS)
Annex No. 4: Basic content of the Manual for the prevention of money laundering and terrorist financing.

18 Article modified by SBS Resolution No. 14998-2009 of November 12, 2009.

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

19 Article modified by SBS Resolution No. 14998-2009 of November 12, 2009.