SBS Resolution No. 1135-2016: Amendment of Article 13 of the Factoring, Discount and Factoring Companies Regulation approved by SBS Resolution No. 4358-2015

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 Lima, March 2, 2016 S.B.S. Resolution No. 1135-2016

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators
WHEREAS:
That Article 16 of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law No. 26702 and its amending provisions, hereinafter the General Law, provides for the establishment of factoring companies, which are defined in numeral 8 of Article 282 of the General Law; That, through the Law amending various provisions to promote financing through factoring and discounting, Law No. 30308, numeral 8 of Article 282 of the General Law was amended, changing the definition of factoring companies within the scope of the General Law; That the Third Final Complementary Provision of the Law amending various provisions to promote financing through factoring and discounting, Law No. 30308, provides that the Superintendency shall issue the provisions establishing the minimum criteria referred to in Article 1 of the aforementioned Law regarding the volume of operations of factoring companies and/or the risk such companies may represent for the stability of the financial system, as well as the regulatory provisions referring to the registry of factoring companies not within the scope of the General Law created in Article 2 of said Law; That, through SBS Resolution No. 4358-2015, the Factoring, Discount and Factoring Companies Regulation was approved, establishing the minimum criteria regarding the volume of operations of factoring companies and/or the risk such companies may represent for the stability of the financial system; That it is considered appropriate to make amendments to the aforementioned regulation regarding the criteria that factoring companies must meet to be within the scope of the General Law; That, in order to gather the opinions of the general public regarding the proposed regulation, the draft resolution on the matter was pre-published on the Superintendency's electronic portal, pursuant to Supreme Decree No. 001-2009-JUS;

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Fax: (511) 6309239 2/2 With the approval of the Deputy Superintendencies of Banking and Microfinance, Risks, Economic Studies and Legal Affairs; and, In use of the powers conferred by numerals 7 and 9 of Article 349 of the General Law, as well as the powers granted in Law No. 30308; RESOLVES:
Article One.- To replace literal b) of Article 13 of the Factoring, Discount and Factoring Companies Regulation approved by SBS Resolution No. 4358-2015, with the following:
"Article 13.- Corporate purpose and supervision by the Superintendency (…) b) It belongs to a financial or mixed conglomerate, which is made up of at least one company within the scope of Article 16 of the General Law. (…)."
Article Two.- 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 (e)