Resolution SMV No. 014-2024-SMV/01

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" 1 Electronic document digitally signed 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 Resolution SMV No. 014-2024-SMV/01 Lima, December 26, 2024 SEEN:
File No. 2024048785, Joint Report No.
1706-2024-SMV/06/10/11/12 dated December 18, 2024, issued by the Legal Advisory Office, the Adjunct Superintendence of Prudential Supervision, the Adjunct Superintendence of Market Conduct Supervision and the Adjunct Superintendence of Investigation, Development and Innovation; as well as the draft modification of Article 18 of the Sanctions Regulation, approved by Resolution SMV No. 035-2018-SMV/01 (hereinafter, the Project); CONSIDERING:
That, in accordance with Article 1 of the Consolidated Text of the Organic Law of the Securities Market Superintendence, approved by Law Decree No. 26126 and its amendments (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, according to subsection a) of Article 1 of the Organic Law of the SMV, it has among its functions to issue legal norms that regulate matters of the securities market and collective fund system, among others; That, subsections b) and d) of Article 5 of the Organic Law of the SMV, establish that the SMV Board of Directors has the attribution to approve the regulations of the securities market, product market and collective fund system and those to which natural or legal persons subject to its supervision must adhere; as well as to typify the infringing conduct of those who participate in the securities market, collective fund system, and other matters under its competence; That, by Resolution SMV No. 035-2018-SMV/01 the SMV Sanctions Regulation was approved, which, among others, regulates the exercise of the sanctioning power attributed to the SMV; That, during the validity of the Sanctions Regulation modifications were made to said regulation, due, among others, to the changes produced in Law No. 27444, General Administrative Procedure Law (hereinafter, LPAG); That, through Articles 3° and 4° of Legislative Decree No. 1683, Legislative Decree that establishes the deadlines for the attention of administrative appeals presented in high-complexity administrative sanctioning procedures of the Securities Market Superintendence (hereinafter, DLEG 1683), longer deadlines were established than those established in the LPAG, for the attention

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 Electronic document digitally signed 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 of administrative appeals presented in high-complexity administrative sanctioning procedures under the responsibility of the SMV; That, the Project adapts the Sanctions Regulation to what is provided in DLEG 1683, specifying the deadlines for the attention of administrative appeals in accordance with the referred legislative decree and LPAG and specifying the opportunity to request the use of the floor by the regulated parties. Likewise, in order for the appeal procedure to be more agile and to be able to meet the deadlines granted by these norms, it specifies the timing of the presentation of the request for the use of the floor, the suspension of the counting of the deadline in case of granting the use of the floor and the elimination of the notification of the report containing the opinion regarding the appeal; That, on December 11, 2024, the Technical Secretariat of the Multisectoral Commission for Regulatory Quality communicated to this Superintendence, that the Multisectoral Commission for Regulatory Quality, under the authority of what is provided in numeral 18 of subsection 28.1 of Article 28 of the Regulation that develops the Institutional Framework that governs 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, had declared that it does not correspond to carry out the Ex Ante Regulatory Impact Analysis by the entity for the approval of the normative project; That, according to what is provided in the "Policy on dissemination of normative projects, legal norms of a general nature, 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 legal norms of a general nature, resolutions and normative 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 Unique Digital Platform of the Peruvian State (www.gob.pe/smv), for a period of twenty (20) calendar days, counted from the day following the date of publication of this resolution, in order for the public to be able to send their suggestions or comments to the proposal; and, Being in accordance with what is provided by subsection a) of Article 1 and subsection b) of Article 5 of the Consolidated Text of the Organic Law
of the Securities Market Superintendence, approved by Law 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; as well as what was agreed by the Board of Directors in its session of December 20, 2024; IT IS RESOLVED:
Article 1°.- Authorize the dissemination of the draft project
of modification of Article 18 of the Sanctions Regulation, approved by Resolution SMV No. 035-2018-SMV/01.
Article 2°.- Provide that the project indicated in the
preceding article be disseminated for public consultation on the Institutional Page of the Securities Market Superintendence on the Unique Digital Platform of the Peruvian State (www.gob.pe/smv).

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" 3 Electronic document digitally signed 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
Article 3°.- The deadline for interested persons to
send to the Securities Market Superintendence their comments and observations on the project indicated in the previous articles is twenty (20) calendar days, counted from the day following the date of publication of the present resolution in the Official Gazette El Peruano.
Article 4°.- The comments and observations referred to in
the previous article may be sent to the following email address: proysanc@smv.gob.pe.
Register, communicate and publish
Zósimo Juan Pichihua Serna
Superintendent of the Securities Market