SBS Resolution No. 01741-2026: Amending Market Conduct and Commissions Regulations

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Lima, July 01, 2026

SBS RESOLUTION No. 01741-2026

The Superintendent of Banking, Insurance and Private Pension Fund Administrators

CONSIDERING:

That, through SBS Resolution No. 3274-2017, the Regulation on Market Conduct Management of the Financial System was approved, with the aim that companies have adequate market conduct management, reflected in the practices they adopt in their relationship with users, in the offer of financial products and services, in information transparency, and in complaint management;

That, through SBS Resolution No. 3748-2021, the Regulation on Commissions and Expenses of the Financial System was approved, which establishes the categories, denominations, and concepts, respectively, of the commissions and expenses that companies in the financial system may apply, as well as the procedure, deadlines, and requirements that these companies must follow for their approval;

That, considering the current functioning of credit products offered by companies in the financial system, as well as the existence of various payment channels for obligations made available to users by the credit-holding companies, including those operated through third parties, it is necessary to strengthen the transparency of information to the user regarding the charges applicable in these operations and the limitations that may exist in these channels to accept payments;

That, companies will ensure that the design of their products and services is consistent with the characteristics of users, that they are marketed according to the target audience, and that relevant and clear information is disseminated, as well as being easily accessible and appropriate for the marketing channel;

That, it is relevant that companies in the financial system complement their communication strategies with users when events of business continuity, cybersecurity, or others occur that affect the products and/or services contracted by them, allowing them to adopt measures to mitigate their consequences, in accordance with the provisions established in the Regulation for Business Continuity Management, approved by SBS Resolution No. 877-2020 and its amendments;

That, pursuant to what is established in Law No. 32327, it is necessary to establish the provisions for the issuance and/or making available to users of the certificate of regularization of payment of overdue debts;

That, pursuant to what is established in Law No. 31601, it is necessary to establish the provisions so that users have a personal attention alternative when the provider offers automated attention systems, as applicable;

That, considering the aspects mentioned above and in order to achieve adequate compliance with the G20/OECD High-Level Principles for Financial Consumer Protection, in light of the recommendations provided by the OECD as a result of its evaluation in the matter of financial consumer protection, within the framework of Peru's accession process to said organization, modifications are proposed in the Regulation on Market Conduct Management of the Financial System and in the Regulation on Commissions and Expenses of the Financial System;

That, in order to collect opinions from the general public, the regulatory project was published through SBS Resolution No. 00013-2026, in the Official Gazette El Peruano and on the Superintendence's digital site, in accordance with what is established in the Thirty-Second Final and Complementary Provision of the General Law and in Supreme Decree No. 009-2024-JUS;

Being in accordance with the opinion of the Adjunct Superintendencies of Banking and Microfinance, and of Regulation and Legal Affairs, as well as the Departments of Market Conduct and Financial Inclusion and of Risks; and,

In exercise of the powers conferred by numerals 7 and 9 of article 349 of the General Law of the Financial System and of the System of Insurance and the Organic Law of the Superintendence of Banking and Insurance, Law No. 26702 and its modifying norms.

RESOLVES:

Article First.- Modify the Regulation on Market Conduct Management of the Financial System, approved by SBS Resolution No. 3274-2017 and its modifying norms, according to the following:

1. Modify paragraph 3.2 of article 3, numeral 4 of paragraph 29.1 of article 29, the third paragraph of article 41-A, numeral 7 of paragraph 43.2 of article 43, paragraph 49.1 and the second paragraph of paragraph 49.2 of article 49, according to the following texts:

“Article 3. Market conduct principles (...) 3.2 The business practices that companies apply to their users, regarding the offer of products and services, seek to involve: i) the design of these considering the target audience to which they are directed, defined as the set of users with similar characteristics and interests according to the company's criteria; respect for the rights recognized to users; what is established by the current regulatory framework; and policies and procedures in matters of market conduct; ii) marketing mechanisms that do not induce error regarding the characteristics of products and services; iii) compliance with agreed conditions; iv) requirements to users, consistent with the nature of the products and services offered and contracted; and v) that the channels made available must be accessible and easy to use for users, as well as must have an option for human contact or personal attention, when applicable, in accordance with what is provided by Law No. 31601. (...)

Article 29. Early payment and advance of installments 29.1 Users have the right to make payments above the required installment in the period, considering for this effect the following: (...) 4. Companies must make available to them, for carrying out early payment and advance of installments operations, at minimum, the same own channels used for the payment of installments or credit card obligations, without additional procedures or requirements being exigible to the user. (...)

Article 41-A. Document of non-debt and lifting of guarantee (...) In the case that a movable vehicle or mortgage guarantee has been constituted, and this does not guarantee other obligations, the document containing the unilateral declaration of release of the guarantee must additionally be included. The latter must allow its formalization through a public notary for its registration in the Public Registries.

Article 43. Guidelines for the presentation of formulas and simulations (...) 43.2 In the case of active products under the installment system, the document containing the result of the simulation must include the following information: (...)

7. The total amount to be paid upon fulfillment of the term of the offered credit, disaggregating the amount of capital, interest, commissions, and expenses; the cost of the insurance premium that is a condition for contracting, the user's right to contract it directly and/or to endorse it in favor of the company up to the amount of the outstanding balance, and the cost of the desgravamen insurance premium offered by the company, if applicable. (...)

Article 49. Contracting of financial products 49.1 In the contracting of financial products and services, through their different channels, companies must consider the following:

1. Reveal the steps and requirements necessary for contracting, as well as specify the available channels or devices required to complete them.

2. The information made available must be accessible, easy to understand, and adequate to the marketing channel. It may include the use of explanatory notes for technical terms.

3. The necessary and product/service-linked information that the user is contracting. The contracting of different products must be carried out independently, except for desgravamen insurance, when it is a condition for contracting. Independence in contracting is configured through mechanisms that guarantee transparency, the user's freedom of choice, and the traceability of their consent. Integrated contracting flows for different products may be used to the extent that clear, precise, and timely information is available; differentiated consents; and authentication mechanisms consistent with the operations carried out within the same flow.

4. Checkboxes linked to the characteristics of a product and/or service must be presented without prior selection and inform if the checkbox is mandatory or optional. The choice of optional checkboxes must not condition the contracting of the product and/or service.

5. Verify the client's identity and record the acceptance of the contract, which includes the summary sheet or information booklet and any other corresponding information, as well as any operation carried out during its execution. Identity verification may apply to multiple contractings carried out within the same flow, provided there is traceable and individualized evidence of the acceptance of each product and/or service contracted.

In contracting through digital channels, additionally, companies must consider the following:

6. The colors, text size, and images used must not induce error to users.

7. At the time of contract acceptance, the company must show for active products the information established in numerals 1, 2, and 3 of paragraph 25.2 and that referred to the amount of interest, amount of commissions and expenses, the number of installments and their periodicity; and in the case of passive products, the company must show the information established in numerals 1, 2, 3, 4 of paragraph 26.2 of article 26 of the Regulation.

8. For the celebration of the contract and during its execution, the company must apply what is established in the current regulations on information security and cybersecurity. (...)

The means used by the company for the delivery and/or making available of the contract, in accordance with what is provided in the previous numeral, must be informed to the user. Likewise, companies must ensure that the contracting channel employed adapts to the target audience to which the products and services are directed. (...)”

2. Incorporate paragraph 19.3 to article 19, article 41-B, articles 55, 56, and numeral 27 to Annex No. 3, according to the following texts:

Article 19. Dissemination of interest rates, commissions, expenses, products, and services (...) 19.3 In any operation of payment of obligations, even when it is carried out in a company other than the credit holder, the company receiving the payment must inform the user, prior to the execution of the operation and through the channel used, the concept and amount of the applicable commission, if any.

Article 41-B. Debt regularization certificate Once the payment of a pending debt that has fallen into default has been regularized, and provided that the user is up to date in their obligation, at their request, companies must issue and/or make available to them within a period not exceeding seven (7) business days, counted from the date of said request, the certificate that accredits the payment and regularization of the debt, at no cost.

Article 55. Communications regarding events and/or incidents that affect users 55.1 Companies must communicate to users any event that generates harm to the client in their balance or credit line, as well as those events related to business continuity or cybersecurity that, having been classified as significant, have an impact on said users, in accordance with what is provided in the Regulation for Business Continuity Management, approved by SBS Resolution No. 877-2020 and its amendments, and the Regulation for Information Security and Cybersecurity Management, approved by SBS Resolution No. 504-2021 and its amendments, respectively.

55.2 Companies must establish criteria to determine when it corresponds to issue communications through the mass dissemination media determined by the company. At minimum, said criteria must consider: (i) if the event or incident has received negative coverage in mass media; (ii) if its management has required the participation of senior management or departments; (iii) if there are formal information requirements from authorities regarding the management of the event. The criteria must be incorporated into the company's policies and procedures in matters of incident, event, and/or crisis management.

55.3 Likewise, they must use direct communication means when the event generates harm to the client in their balance or credit line, or if it is a significant cybersecurity incident affecting the user.

Article 56. Deadline for communication regarding events and/or incidents that affect users 56.1 Communication to users through mass dissemination media must be carried out within twenty-four (24) hours from when the company becomes aware of the event or incident, and in accordance with what is established in the Regulation for Business Continuity Management, approved by SBS Resolution No. 877-2020 and its amendments, and the Regulation for Information Security and Cybersecurity Management, approved by SBS Resolution No. 504-2021 and its amendments, when applicable.

56.2 Direct communication to clients must be carried out within ten (10) business days counted from the next business day from when the company becomes aware of the possible affectation. Said communication must include information about the fact occurred and the actions adopted by the company for each user. Exceptionally and for justified cause, the communication deadline may be extended for a maximum of ten (10) additional business days.

ANNEX No. 3 EXAMPLES OF CHARGES THAT DO NOT ADHERE TO THE CRITERIA OF THE REGULATION TO HAVE THE QUALITY OF COMMISSIONS OR EXPENSES. (...) 27. In the credit-holding company, charges for the payment of credit obligations that are carried out through own channels made available to users. (...)

3. Replace numeral 1 of article 4, numeral 4 of article 20, article 21, and the title of Chapter IV of Title V, according to the following texts:

“Article 4. Market conduct management (...)

1. Policies that incorporate market conduct and its principles in the organizational culture of companies and in their corporate governance structure. (...)

Article 20. Information dissemination mechanisms (...) 4. Information provided by persons in charge of the offer of products and services.- The own or subcontracted personnel of the companies are obliged to inform the EAA (Effective Annual Cost) or EAR (Effective Annual Rate), applicable to active or passive products, as applicable, that would be applicable to the client, as well as explain the composition of said rates. In the case of revolving system credits, an explanatory example must be provided according to what is indicated in Annex No. 1-A of the Regulation. Only at the client's request may additional information be provided regarding the effective cost rate applicable in other periodicities.

Company personnel must be capable of providing and explaining to users the information contained in this article and other provisions included in the Regulation.

Article 21. Information dissemination channels 21.1. Information referred to compensatory and default interest rates, commissions and expenses, and the characteristics of financial products and/or services, must be disseminated through the channels made available to users, taking into consideration the following:

1. Website.- To comply with the obligation of constant dissemination regarding the products and services offered to users, companies must present on their website the lists or tariffs, contractual forms, as well as disseminate the benefits, risks, and conditions applicable, considering, at minimum, the information detailed in Annex No. 4 of the Regulation. In case of modification, the update date must be incorporated into the documents exhibited by the company.

Additionally, companies must disseminate the steps and requirements for contracting and cancellation of the products and/or services they offer, as well as specify the channels or devices required to complete them.

In case companies issue credit cards, they must present in a comparative manner the characteristics of the cards they offer based on client profiles, their interests, as well as the applicable tariffs. The Superintendence, through a multiple letter, may determine the form of dissemination of this information.

The dissemination of said information must be carried out through a link that can be identified on the main website, as part of the information on each financial product and service offered.

2. Mobile applications.- When companies allow the contracting of products and/or services through this channel, they must disseminate the information of the lists or tariffs applicable to said products, as well as their benefits, risks, and conditions. This information must contain, at minimum, what is detailed in Annex No. 4 of the Regulation.

3. ATMs.- Companies that issue credit and/or debit cards and are also holders or operators of ATMs, must ensure that, once an ATM operation is requested, the user is provided with information on screen and with prior character to the operation being carried out, the exact value of the applicable charge.

In case the credit-holding or ATM-operating companies are different from the companies that issue the credit and/or debit cards and it is not possible to comply with what is required in the previous paragraph, the latter must ensure that the former provide the user, on screen and with prior character to the operation being carried out, the exact value of the applicable charge for its use, specifying that the payment instrument issuing company could effect additional charges, if applicable.

Once said information is provided, the ATM must offer the user the possibility to approve or reject the requested operation. If the referred information is not included on the ATM screen, charges for its use cannot be transferred to the user.

21.2. Companies must adapt the information on products and/or services to the environment of the channels and/or to the types of devices that will be used by users. Additionally, in cases where companies use links to other channels, direct access to the information must be allowed, complying with what is stated in this numeral.

CHAPTER IV INFORMATION TO BE SENT TO USERS (...)”

4. Repeal numerals 5 and 6 of article 20.

Article Second.- Modify the Regulation on Commissions and Expenses of the Financial System, approved by SBS Resolution No. 3748-2021 and its modifying norms, according to the following terms:

1. Modify the description of the included services of the commissions “Use of complementary channels” and “Counter operation”, as well as the name of the category “Use of channels” of literals A) Credit Card, B) Mortgage and Consumer Credits, C) Savings and Checking Account, and D) Time Deposit; and the description of included services of the commission called “Transfer from another entity”, of the category “Transfers”, of literal E) related to Transversal Services of Annex No. 1, according to the following text:

“ANNEX No. 1 A) CREDIT CARD (...) CATEGORY DENOMINATION DESCRIPTION OF INCLUDED SERVICES

1. Use of complementary channels Charge for the use of complementary channels1, to carry out withdrawals, queries, and/or movements, among other operations other than the payment of credit obligations. Use of own channels Comprises the operational management associated with the service.

2. Counter operation Charge for the carrying out of withdrawals2, balance queries, and/or movements, among other operations other than the payment of credit obligations. Comprises the operational management associated with the service. (...) B) MORTGAGE AND CONSUMER CREDITS (...) CATEGORY DENOMINATION DESCRIPTION OF INCLUDED SERVICES Use of own channels

3. Use of complementary channels Charge for the use of complementary channels3 to carry out queries and/or movements, among other operations other than the payment of credit obligations. Comprises the operational management associated with the service. 1 ATM and establishments of basic operations of companies in the financial system. 2 Whenever there is a cost-free channel. 3 ATM and establishments of basic operations of companies in the financial system.

4. Counter operation Charge for the carrying out of balance queries and/or movements, among other operations other than the payment of credit obligations. Comprises the operational management associated with the service. (...) C) SAVINGS AND CHECKING ACCOUNT (...) CATEGORY DENOMINATION DESCRIPTION OF INCLUDED SERVICES

5. Use of complementary channels Charge for the use of complementary channels4 to carry out withdrawals4, queries and/or movements, among other operations other than the payment of credit obligations. Use of own channels Comprises the operational management associated with the service.

6. Counter operation Charge for the carrying out of withdrawals5, deposits, balance queries, and/or movements, among other operations other than the payment of credit obligations. Comprises the operational management associated with the service. (...) D) TIME DEPOSIT (...) CATEGORY DENOMINATION DESCRIPTION OF INCLUDED SERVICES 4 Whenever there is a cost-free channel and/or a number of monthly withdrawals without cost, determined by the company.

Use of own channels 2. Counter operation Charge for the carrying out of withdrawals5, balance queries, and/or movements, among other operations in the counter. Comprises the operational management associated with the service. (...) E) TRANSVERSAL SERVICES TO THE PRODUCTS LISTED IN THIS ANNEX (...) CATEGORY DENOMINATION DESCRIPTION OF INCLUDED SERVICES Transfers 3. Trans