Resolution SMV No. 007-2026-SMV/01

PERÚ Ministry of Economy and Finance

SMV Securities Market Superintendence "Decade of Equality of Opportunities for Women and Men" "Year of Hope and Strengthening of Democracy" 1 Electronic document digitally signed under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and modifications. 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. 007-2026-SMV/01 Lima, April 6, 2026

SEEN: The file No. 2026014763 which contains the Joint Report No. 509-2026-SMV/06/10/12 of March 31, 2026 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 Regulation of Mutual Funds for Investment in Securities and their Managing Companies, approved by CONASEV Resolution No. 068-2010-EF/94.01.1;

CONSIDERING: That, in accordance with what is established in article 1 of the Unified Text of the Organic Law of the Securities Market Superintendence, approved by Legislative Decree No. 26126 and its modifications (hereinafter, Organic Law), the Securities Market Superintendence - SMV aims to ensure the protection of investors, the efficiency and transparency of the markets under its supervision, the correct formation of prices and the dissemination of all information necessary for such purposes, through regulation, supervision and promotion;

That, in accordance with article 1°, letter a), of the Organic Law, the SMV is authorized to issue the legal norms that regulate matters of the securities market;

That, according to what is established by article 5°, letter b), of the Organic Law, the Board of Directors of the SMV has the attribution to approve the regulations of the securities market, product market and collective fund system, as well as those to which natural and legal persons subject to the supervision of the SMV must be subject;

That, by Conasev Resolution No. 068-2010-EF/94.01.1, the Regulation of Mutual Funds for Investment in Securities and their Managing Companies (hereinafter, Mutual Funds Regulation) was approved;

That, according to what is established by subsection ac) of article 2° of the Mutual Funds Regulation, distributors are Intermediation Agents, managing companies and Investment Fund Managing Companies, multiple operation companies referred to in article 16 subsection A of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendence of Banking and Insurance, which are registered in the Registry, and others that the SMV establishes by general provision;

That, articles 166-A and 166-C of the Mutual Funds Regulation attribute to the Distributor the functions of promotion and placement of the participation quotas of the mutual funds and establish the minimum conditions that legal persons acting as such must have;

PERÚ Ministry of Economy and Finance

SMV Securities Market Superintendence "Decade of Equality of Opportunities for Women and Men" "Year of Hope and Strengthening of Democracy" 2 Electronic document digitally signed under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and modifications. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

That, Private Pension Fund Administrators (AFP) and Investment Banks have a functioning authorization issued by the SBS and comply with prudential norms of solvency, infrastructure and regulatory compliance, therefore these entities have the necessary support to additionally comply with the obligations and responsibilities that come with being a distributor of mutual funds;

That, the incorporation of AFPs and Investment Banks as new distributors would generate positive synergies with the mutual fund industry, expanding their customer base and promoting investment in these products;

That, according to what is established in numeral 19.1 of article 19 of the Regulation that establishes provisions on publication and dissemination of general legal norms, resolutions and regulatory projects, approved by Supreme Decree No. 009-2024-JUS, drafts of general legal norms must be published in the digital headquarters of the Public Administration entities responsible for their elaboration or in another medium, ensuring their proper dissemination and easy access;

That, likewise, subsection c) of numeral 20.1 of article 20 of the Regulation mentioned in the preceding paragraph, provides that the deadline for receiving comments, contributions or opinions must not be less than fifteen (15) calendar days counted from the day following its publication, unless a higher-ranking regulatory provision establishes otherwise; and,

Being in accordance with what is established by letter a) of article 1 and letter b) of article 5 of the Unified Text of the Organic Law of the Securities Market Superintendence, Legislative Decree No. 26126 and its modifications; numeral 2 of article 9 of the Regulation of Organization and Functions of the Securities Market Superintendence, approved by Supreme Decree No. 216-2011-EF; articles 19 and 20 of the Regulation that establishes provisions on publication and dissemination of general legal norms, resolutions and regulatory projects, approved by Supreme Decree No. 009-2024-, as well as what was agreed by the Board of Directors of the SMV held in its session of March 31, 2026;

IT IS RESOLVED:

Article 1.- Authorize the dissemination of the Draft modification of the Regulation of Mutual Funds for Investment in Securities and their Managing Companies, approved by Conasev Resolution No. 068-2010-EF/94.01.1.

Article 2.- Provide that the project mentioned in the preceding article be disseminated on the Institutional Page of the Securities Market Superintendence - SMV on the Unique Digital Platform of the Peruvian State (www.gob.pe/smv).

Article 3.- The deadline for interested persons to send comments and observations to the Securities Market Superintendence regarding the project mentioned in the previous articles is fifteen (15) calendar days, counted from the day following the date of publication of this resolution in the Official Gazette El Peruano.

PERÚ Ministry of Economy and Finance

SMV Securities Market Superintendence "Decade of Equality of Opportunities for Women and Men" "Year of Hope and Strengthening of Democracy" 3 Electronic document digitally signed under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and modifications. 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 4.- The comments and observations referred to in the previous article may be sent to the following email address: proyrfm@smv.gob.pe.

Register, communicate and publish.

Zósimo Juan Pichihua Serna Superintendent of the Securities Market