Resolution SMV No. 011-2024-SMV/01 — SMV — PE

PERÚ Ministry of Economy and Finance

File No. 2024048379, Joint Report
No. 1559-2024-SMV/06/10/11/12 dated November 22, 2024, issued by the Legal Advisory Office, the Adjunct Superintendency of Prudential Supervision, the Adjunct Superintendency of Market Conduct Supervision and the Adjunct Superintendency of Investigation, Development and Innovation; as well as the draft "Provisions for the determination of administrative sanctioning procedures under the responsibility of the Securities Market Superintendence (SMV) as being of high complexity" (hereinafter, the Project);

CONSIDERING:
That, pursuant to Article 1 of the Unified Text of the Organic Law of the Securities Market Superintendence – SMV, approved by Legislative Decree No. 26126 and its amendments (hereinafter, Organic Law), the SMV has as its purpose 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, according to paragraph b) of Article 5 of the Organic Law, the Board of Directors of the SMV has the attribute of approving the regulations of the securities market, product market and collective fund system, as well as those to which natural or legal persons subject to its supervision must adhere; That, by means of Legislative Decree No. 1683, Legislative Decree that establishes deadlines for the processing of administrative appeals presented in high-complexity administrative sanctioning procedures of the Securities Market Superintendence, longer deadlines than those established in Law No. 27444, General Administrative Procedure Law, were set for the processing of administrative appeals presented in high-complexity administrative sanctioning procedures under the responsibility of the SMV; That, in this sense, the First Complementary Final Provision of said legislative decree provides as follows:
“The SMV, within a period not exceeding sixty (60) business days from the publication of this Legislative Decree, by means of an SMV Resolution, approved by its board of directors, establishes the criteria of high complexity that must be considered by the body responsible for resolving administrative appeals filed in administrative sanctioning proceedings before the SMV, under reasonable and objective parameters.

PERÚ Ministry of Economy and Finance

SMV
Securities Market
Superintendence
"Decade of Equal Opportunities for Women and Men" "Year of the Bicentennial, of the consolidation of our Independence, and of the commemoration of the heroic battles of Junín and Ayacucho" 2 Electronically signed document within 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 The Resolution issued by the SMV allows for clear and advance knowledge of the circumstances for classifying administrative sanctioning procedures as high complexity. (…)”; That, in order to comply with what is provided by the First Complementary Final Provision mentioned above, it corresponds that the Board of Directors of the SMV issue the norm that establishes the reasonable and objective criteria for determining high-complexity administrative sanctioning procedures; That, for this purpose, the Project establishes the criteria that the SMV administrative authority must take into account to determine if the administrative sanctioning procedure under its responsibility should be classified as high complexity; That, on November 13, 2024, 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 paragraph 28.1 of Article 28 of the Regulation that develops the Institutional Framework governing the Process of Improvement of Regulatory Quality and establishes the General Guidelines for the application of Ex Ante Regulatory Impact Analysis, approved by Supreme Decree No. 063-2021-PCM, has declared that it does not correspond to perform the Ex Ante Regulatory Impact Analysis by the entity for the approval of the regulatory project; That, according to what is provided in the “Policy on dissemination of regulatory projects, general legal norms, early agenda and other administrative acts of the SMV”, approved by Resolution SMV No. 014-2014- SMV/01 and 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, the Project must be disseminated for public consultation, through the Institutional Page of the Securities Market Superintendence on the Single Digital Platform of the Peruvian State (www.gob.pe/smv), for a period of fifteen (15) calendar days, counted from the day following the date of publication of this resolution, in order for the public to submit their suggestions or comments to the proposal; and, Being in accordance with what is provided by paragraph a) of Article 1 and paragraph b) of Article 5 of the Unified Text of the Organic Law of the Securities Market Superintendence, approved by Legislative Decree No. 26126 and its amendments; numeral 2 of Article 9 of the Organization and Functions Regulation of
the Securities Market Superintendence, approved by Supreme Decree No. 216- 2011-EF; the First Complementary Final Provision of Legislative Decree No. 1683; as well as what was agreed upon by the Board of Directors in its session of November 26, 2024; IT IS RESOLVED:
Article 1°.- Authorize the dissemination of the draft
project of "Provisions for the determination of administrative sanctioning procedures under the responsibility of the Securities Market Superintendence (SMV) as being of high complexity".

PERÚ Ministry of Economy and Finance

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