Resolution SMV No. 006-2025-SMV/01

PERU Ministry of Economy and Finance

SMV
Superintendency of the Securities Market
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 1 Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

Resolution SMV
No. 006-2025-SMV/01
Lima, February 26, 2025

SEEN:
The File No. 2024026933 and the Joint Reports No. 835-2024-SMV/06/10/12 and 266-2025-SMV/06/10/12 of June 21, 2024 and February 24, 2025, respectively, issued by the Legal Advisory Office, the Adjunct Superintendency of Prudential Supervision and the Adjunct Superintendency of Investigation, Development and Innovation; as well as the draft modification of the Rules for the Prevention of Money Laundering and Financing of Terrorism, approved by CONASEV Resolution No. 033-2011-EF/94.01.1 and its amendments, (hereinafter, the Project);

CONSIDERING:

That, through Law No. 27693, the Financial Intelligence Unit of Peru (UIF-Peru) was created, an entity responsible for receiving, analyzing, treating, evaluating and transmitting information for the detection of money laundering and financing of terrorism, as well as to assist in the implementation by the obligated subjects of the system to detect suspicious operations of money laundering and financing of terrorism;

That, article 3, numeral 9, of Law No. 27693, modified by Legislative Decree No. 1106, specifies that, for the case of obligated subjects under the supervision of the Superintendency of Banks, Insurance and Private Pension Fund Administrators (SBS) and the Superintendency of the Securities Market (SMV), the function of regulating the general and specific guidelines, requirements, and other aspects related to the prevention systems of the obligated subjects to report, the reports of suspicious operations, the Operations Register, among others, corresponds to these entities and is exercised in coordination with UIF-Peru;

That, by CONASEV Resolution No. 033-2011-EF/94.01.1, the Rules for the Prevention of Money Laundering and Financing of Terrorism (NPLAFT) were approved; and by SMV Resolution No. 007-2013-SMV/01, Superintendent Resolution No. 073-2018-SMV/02 and Superintendent Resolution No. 108-2020-SMV/02, modifications were made to various articles of the NPLAFT, with the purpose of harmonizing them with the recommendations of the Financial Action Task Force International (FATF), under the approach based on risks associated with money laundering and financing of terrorism;

That, the Financial Action Task Force of Latin America (GAFILAT) carried out an evaluation on the implementation of the 40 FATF Recommendations and the level of effectiveness of the Peruvian system for the prevention of money laundering and financing of terrorism;

That, based on said evaluation, the Mutual Evaluation Report of Peru was published in February 2019, which contains the results on the compliance with the criteria that form part of the 40 FATF Recommendations and aspects of the regulations on the prevention of money laundering and financing of terrorism that require adjustments in various entities, including the SMV, to comply with FATF criteria;

That, among other modifications, the Project specifies the obligation of obligated subjects who manage and/or administer trusts or autonomous estates to retain information on service providers provided to the trust or autonomous estate, as part of the knowledge of providers applicable to all obligated subjects under the scope of the NPLAFT;

That, on the other hand, it specifies the obligation of obligated subjects to carry out due diligence in a continuous manner of their existing clients, to be understood as all their clients;

That, on January 3, 2025, the Technical Secretariat of the Multisectoral Commission for Regulatory Quality communicated to this Superintendency that the Multisectoral Commission for Regulatory Quality, under the provisions of numeral 18 of clause 28.1 of article 28 of the Regulation that develops the Institutional Framework governing the Regulatory Quality Improvement Process and establishes the General Guidelines for the application of Ex Ante Regulatory Impact Analysis, approved by Supreme Decree No. 063-2021-PCM, declared that it does not correspond to carry out the Ex Ante Regulatory Impact Analysis by the entity for the approval of the Project;

That, the Project was disseminated for public consultation on the Institutional Page of the Superintendency of the Securities Market on the Single Digital Platform of the Peruvian State (www.gob.pe/smv), for thirty (30) calendar days, in accordance with what is established by SMV Resolution No. 01-2025-SMV/01, published on January 10, 2025 in the Official Gazette El Peruano, period during which comments and suggestions were received on the published normative proposal; and,

Being in accordance with what is established by literal a) of article 1° and literal b) of article 5° of the Unified Concorded Text of the Organic Law of the SMV, approved by Legislative Decree No. 26126 and modified by Law No. 29782, numeral 9 of article 3 of Law No. 27693 and its modifying norms, as well as what was agreed by the Board of Directors of the SMV held in its session of February 25, 2025;

IT IS RESOLVED:

Article 1°.- Modify clause iv) of numeral 7.1, literal b) of numeral 7.4 and the first paragraph of numeral 7.8 of article 7, numeral 11.2 of article 11, literal l) of numeral 25.1 of article 25 of the Rules for the Prevention of Money Laundering and Financing of Terrorism, approved by CONASEV Resolution No. 033-2011-EF/94.01.1, in accordance with the following texts:

PERU Ministry of Economy and Finance

SMV
Superintendency of the Securities Market
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 2 Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

«Article 7.- Application by the Obligated Subject, of the due diligence regarding its client.
7.1 Obligated subjects, under responsibility, must:
(...)
(iv) Carry out due diligence in a continuous manner of the commercial relationship with their existing clients and examine the operations carried out or that have been attempted to be carried out throughout that relationship, so that those are consistent with their knowledge of the client, the business and their risk profile, including the source of the funds, when necessary. (...)
7.4 Obligated subjects, based on the information obtained through their policies and procedures for the adequate knowledge of their clients and with a risk-based approach, must identify those situations in which it is appropriate to intensify their due diligence procedures in client knowledge, among which they must consider:
(...) b) Clients who receive transfers from countries or jurisdictions identified by the FATF as non-cooperative due to their risk related to money laundering and financing of terrorism, with little banking supervision, or from countries included in the OFAC list. Obligated subjects must review the list of countries or jurisdictions identified as non-cooperative by the FATF, which is published or disseminated on the Institutional Page of the SMV on the Single Digital Platform of the Peruvian State (www.gob.pe/smv) and/or on the FATF website (www.fatf-gafi.org). (...)
7.8 When for causes not attributable to the obligated subject, it cannot comply with the due diligence measures in client knowledge, it must proceed as follows: i) not initiate commercial relationships, not carry out the operation and/or terminate the initiated commercial relationship; and ii) evaluate whether it corresponds to carry out a report of suspicious operations (ROS) regarding the client.
(...)»

« Article 11.- Conservation and availability of the Operations Register of the Money Laundering and Financing of Terrorism Prevention System and of the Client Due Diligence documentation

PERU Ministry of Economy and Finance

SMV
Superintendency of the Securities Market
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 3 Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

(...)
11.2 Obligated subjects must additionally retain, during the period indicated in the preceding paragraph, the documentation and information obtained in the application of client due diligence which includes the result of the evaluation that the obligated subject and the Compliance Officer have carried out on them. Likewise, for the same period, the policies, procedures and all information referred to compliance with the obligations established in the Regulation must be retained.
(...)»

«Article 25.- Functions of the Compliance Officer
25.1 The functions of the Compliance Officer are the following:
(...) l) Verify, at the beginning and during the commercial relationship with the client, the list of countries or non-cooperative jurisdictions identified by the FATF, which is published or disseminated on the Institutional Page of the SMV on the Single Digital Platform of the Peruvian State (www.gob.pe/smv) and/or on the FATF website (www.fatf-gafi.org), as well as the OFAC List, which can serve as a consultation tool to measure the client's risk exposure. (...)»

Article 2°.- Incorporate article 7A and a final paragraph to article 36 to the Rules for the Prevention of Money Laundering and Financing of Terrorism, approved by CONASEV Resolution No. 033-2011-EF/94.01.1, in accordance with the following text:

«Article 7A.- Countermeasures on countries or high-risk jurisdictions Obligated subjects must apply to the transactions they may carry out with countries or jurisdictions, the countermeasures established by norm with the rank of law, when the FATF makes a call in that sense.»

«Article 36.- Knowledge of providers
(...)
Obligated subjects who manage and/or administer trusts or autonomous estates must retain the information of service providers to the trust or autonomous estate, including advisors or investment managers, accountants and tax advisors, for ten (10) years from when the management and/or administration activity of the trust or autonomous estate ceases by the obligated subject.»

PERU Ministry of Economy and Finance

SMV
Superintendency of the Securities Market
"Decade of Equal Opportunities for Women and Men" "Year of recovery and consolidation of the Peruvian economy" 4 Electronically signed document in the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

Article 3°.- Publish this resolution in the Official Gazette El Peruano and on the Institutional Page of the Superintendency of the Securities Market – SMV on the Single Digital Platform of the Peruvian State (www.gob.pe/smv).

Article 4°.- This resolution will enter into force the day after its publication in the Official Gazette El Peruano.

Register, communicate and publish.

Zósimo Juan Pichihua Serna
Superintendent of the Securities Market