SBS Resolution N° 4349-2016: Norm on Functions and Positions Occupied by Politically Exposed Persons (PEP)

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 Lima, August 11, 2016 S.B.S. Resolution N° 4349 -2016

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators

CONSIDERING:
That, through article 8 of Law N° 27693 and its amendatory norms, as well as article 3 of Law N° 29038, it is established who are the obligated subjects to inform those responsible for implementing a system for the prevention of money laundering and terrorist financing which involves, among other aspects, reporting on operations that result suspicious and designating a compliance officer duly accredited before the Financial Intelligence Unit of Peru (UIF-Peru), responsible for receiving, analyzing, processing, evaluating and transmitting information for the detection of money laundering and terrorist financing; That, in accordance with the provisions of article 3° of Law N° 27693, modified by the first complementary modificatory provision of Legislative Decree N° 1106, Legislative decree for effective fight against money laundering and other crimes related to illegal mining and organized crime, it is the function and power of the Superintendency of Banking, Insurance and Private Pension Fund Administrators, through the UIF-Peru, to regulate the guidelines, requirements and other aspects referred to the prevention systems of the subjects obligated to report; That, in this context, it is necessary to approve a norm on functions and positions of politically exposed persons (PEP) in matters of prevention of money laundering and terrorist financing in accordance with the regulations on prevention and/or management of risks of money laundering and terrorist financing in force, in accordance with the international recommendations of the Financial Action Task Force International Group – FATF, which establishes international standards in this matter; That, for the purpose of collecting the opinions of the public in general regarding the normative proposals, the pre-publication of the normative project was ordered on the electronic portal of the Superintendency, under the provisions of Supreme Decree N° 001-2009-JUS and its amendatory norms; With the approval of the Deputy Superintendencies of Private Pension Fund Administrators, Insurance, Banking and Microfinance, of Risks, Legal Advisory and the UIF-Peru; and, In use of the powers conferred by Law N° 26702, Law N° 27693 and its amendatory norms and Law N° 29038;

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 RESOLVES:
Article 1.- Approve the Norm on functions and positions
occupied by politically exposed persons (PEP) in matters of prevention of money laundering and terrorist financing, according to the following text:
NORM ON FUNCTIONS AND POSITIONS OCCUPIED BY POLITICALLY EXPOSED PERSONS (PEP) IN MATTERS OF PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

Article 1.- Scope
This Norm is applicable to the obligated subjects to inform referred to in the Law that creates the Financial Intelligence Unit of Peru - UIF-Peru, Law Nº 27693 and its amendatory norms and Law N° 29038, under the supervision and/or regulation of the Superintendency, which in accordance with the norms on prevention of money laundering and terrorist financing, must establish due diligence measures in relation to politically exposed persons (PEP).
Article 2.- Politically Exposed Persons (PEP)
Politically exposed persons (PEP) are natural persons, national or foreign, who hold or who in the last two (2) years have held prominent public functions, or prominent functions in an international organization, either in the national territory or abroad, and whose financial circumstances may be subject to public interest. Likewise, the direct collaborator of the highest authority of the institution is considered as PEP.1 PEPs are subject to the application of the reinforced regime of due diligence in the knowledge of the client.2
Article 3.- List of positions and functions occupied by PEP
The Annex containing a list of those functions and positions occupied by PEP, which the obligated subjects must consider to perform due diligence in the knowledge of the client, is an integral part of this norm. The obligated subjects, based on ML/TF risks, develop and implement procedures to identify those clients that coincide with the definition of PEP referred to in article 2 of this norm, to whom they must apply the reinforced regime of due diligence in the knowledge of the client.3 The Superintendency publishes on its institutional web, as well as on the Portal for the Prevention of Money Laundering and Terrorist Financing (plaft.sbs.gob.pe), the referred list. The Superintendency publishes the update or modification of the referred list, if applicable. 1 Article modified by SBS Resolution N° 02868-2025 effective from August 17, 2025. 2 Article modified by SBS Resolution N° 00199-2025 effective from January 23, 2025. 3 Article modified by SBS Resolution N° 00199-2025 effective from January 23, 2025.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239
Article 2.- The definition of politically exposed
persons considered in article 2 of the Norm on functions and positions occupied by politically exposed persons (PEP) in matters of prevention of money laundering and terrorist financing approved by article 1 of this resolution, replaces the definitions of politically exposed persons considered in:
− Subparagraph k) of article 2 of the Norm for the Prevention of Money Laundering and Terrorist Financing, of general application to the obligated subjects to inform that lack supervisory bodies, approved by SBS Resolution N° 486-2008 and its amendatory norms. − Subparagraph o) of article 3 of the Special Norms for the Prevention of Money Laundering and Terrorist Financing applicable to Notaries approved by SBS Resolution N° 5709-2012 and its amendatory norms. − Subparagraph u) of article 2° of the Norm for the Prevention of Money Laundering and Terrorist Financing applicable to Customs Agents and Owners, Consignees or Consignors authorized to operate as Customs Dispatchers, approved by SBS Resolution N° 2249-2013 and its amendments.
Article 3.- This resolution enters into force on the day
following its publication in the Official Gazette El Peruano.
Register, communicate and publish.
JAVIER MARTÍN POGGI CAMPODÓNICO
Superintendent of Banking, Insurance and
Private Pension Fund Administrators (acting)

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 ANNEX4 LIST OF FUNCTIONS AND POSITIONS OCCUPIED BY POLITICALLY EXPOSED PERSONS (PEP) IN MATTERS OF PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

1. PEPs are natural persons, national or foreign, who hold or who in the last
   two (2) years have held prominent public functions, or prominent functions in an international organization; either in the national territory or abroad, and whose financial circumstances may be subject to public interest. 5
2. The following are in the category of politically exposed persons who hold or have
   held, in accordance with the provisions of this norm, the following functions and positions, in the national territory or abroad:6 a. Presidents, heads of state or similar positions. b. President of the council of ministers, ministers, vice ministers and secretaries general of the Executive Power.
   c. Regional governors and mayors or highest authority of regional and
   local governments, regional vice governors, councilors and managers of regional and local governments. d. Congressmen, members of parliament or similar positions; members of the chief office of the Congress or similar positions. e. President of the Judicial Power and president of the Supreme Court of Justice; supreme judges, superior judges, specialized or mixed judges, general manager, secretary general and equivalent position in the military jurisdiction.7 f. Nation Prosecutor, supreme prosecutors, supreme deputy prosecutors, superior prosecutors, provincial prosecutors; the general manager and the secretary general of the Public Ministry; as well as equivalent positions in the military jurisdiction (prosecutors in charge of military justice). g. General Commander of the Navy, General Commander of the Air Force, General Commander of the Army and Director General of the National Police, or similar positions of the armed forces and of the public security forces. h. 8
   i. The highest authority, directors, members of collegiate bodies, secretaries general
   and heads of cabinet of advisors of public entities, public regulatory bodies and/or specialized supervisors, executors and constitutionally autonomous bodies. 9 4 Annex published on 08/19/2016. 5 Numeral modified by SBS Resolution N° 02868-2025 effective from August 17, 2025. 6 Numeral modified by SBS Resolution N° 00199-2025 effective from January 23, 2025. 7 Subparagraph modified by SBS Resolution N° 02868-2025 effective from August 17, 2025. 8 Subparagraph repealed by SBS Resolution N° 00199-2025 effective from January 23, 2025. 9 Subparagraph modified by SBS Resolution N° 02868-2025 effective from August 17, 2025.

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 j. Ambassadors.10 k. Officials of the body in charge of contracts and acquisitions, within the framework of the applicable regulations on State contracts of all public entities. Likewise, the heads of the areas of treasury, budget, finance and logistics of the public sector. 11
l. The highest authority of the international organization in the execution of the policies and
decisions of the board of directors; and its directors or similar positions. International organizations shall be understood as those entities established through official political agreements between the different States, which have the status of international treaties, their existence is recognized by law in their own States and that said organizations can be differentiated from the country where they are located12 . m. Founders, members of the governing bodies, legal representatives, accountant and treasurer of political parties or electoral alliances, as well as their candidates to popular election positions.13
3. Likewise, the direct collaborators of the persons indicated
in the previous list are considered as PEP, provided they are the highest authority of the institution to which they belong, understanding by "direct collaborators" those persons who follow these in the chain of command and have decision-making capacity. 10 Subparagraph modified by SBS Resolution N° 02868-2025 effective from August 17, 2025. 11 Subparagraph modified by SBS Resolution N° 02868-2025 effective from August 17, 2025. 12 This category includes, among others, the United Nations Organization and the programs, funds and specialized agencies of the United Nations, which are listed on their website: http://www.un.org/. 13 Subparagraph modified by SBS Resolution N° 02868-2025 effective from August 17, 2025.