SBS Resolution No. 1959-2026: Modifies Articles 1 and 2 of the Corporate Governance and Comprehensive Risk Management Regulations, approved by SBS Resolution No. 272-2017 and its amendments

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 Lima, August 03, 2026 S.B.S. Resolution No. 01959-2026

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators
WHEREAS:
That, in accordance with numeral 13 of article 132 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, hereinafter the General Law, the consolidated supervision of financial or mixed conglomerates constitutes a way to mitigate risks for the saver; That, article 138 of the General Law, indicates the general criteria governing the consolidated supervision of financial and mixed conglomerates, constituting it as a complementary mechanism for the supervision of companies in the financial and insurance systems; That, by means of SBS Resolution No. 11823-2010 and its amending regulations, the Regulations for the Consolidated Supervision of Financial and Mixed Conglomerates were approved, with the purpose that the Superintendency of Banking, Insurance and Private Pension Fund Administrators, hereinafter the Superintendency, carry out the evaluation of the risks faced by supervised companies for being part of a financial or mixed conglomerate, also considering the activities of unsupervised companies when they may impact the financial soundness of the supervised entities; That, by means of SBS Resolution No. 272-2017 and its amendments, the Corporate Governance and Comprehensive Risk Management Regulations were approved, which require supervised companies to have a solid and transparent governance structure, as well as comprehensive risk management that guarantees responsible decisions, effective controls and regulatory compliance; That, in order to strengthen consolidated supervision and align it with international standards, it is necessary to modify the aforementioned Corporate Governance and Comprehensive Risk Management Regulations so that supervised companies ensure that the entities that make up their financial group or consolidable group incorporate corporate governance and comprehensive risk management practices compatible with those provided in said Regulations;

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000 That, in order to gather public opinions on the proposed regulatory modification, SBS Resolution No. 1331-2026 ordered the publication of the draft resolution on the Superintendency's electronic portal, under the provisions of the Thirty-Second Final and Complementary Provision of the General Law, and Supreme Decree No. 009-2024-JUS; Having the approval of the Assistant Superintendencies of Banking and Microfinance, Insurance, and Regulation and Legal Affairs, as well as the Risk and Economic Studies Managements; and, In use of the powers conferred by numerals 7 and 9 of article 349 of the General Law; RESOLVES:
Article First.- Modify the Corporate Governance and Comprehensive Risk Management Regulations, approved by SBS Resolution No. 272-2017 and its amendments, in the terms indicated below:

1. Incorporate into article 2 of the Corporate Governance and Comprehensive Risk Management Regulations, approved by SBS Resolution No. 272-2017 and its amendments, the following text: "ss) Consolidable group: In accordance with the definition established in subsection h) of article 2 of the Regulations for the Consolidated Supervision of Financial and Mixed Conglomerates. tt) Financial group: In accordance with the definition established in subsection j) of article 2 of the Regulations for the Consolidated Supervision of Financial and Mixed Conglomerates. uu) Regulations for the Consolidated Supervision of Financial and Mixed Conglomerates: Regulations for the Consolidated Supervision of Financial and Mixed Conglomerates, approved by SBS Resolution No. 11823-2010 or the norm that replaces it."
2. Incorporate as the last paragraph of article 1 of the Corporate Governance and Comprehensive Risk Management Regulations, approved by SBS Resolution No. 272-2017 and its amendments, the following text:
   "Article 1. Scope
   (...)
   When the Superintendency exercises consolidated supervision within the framework established in the Regulations for the Consolidated Supervision of Financial and Mixed Conglomerates, the company responsible for submitting consolidated information shall ensure that the entities that are part of its financial group or consolidable group incorporate the corporate governance and comprehensive risk management standards of these Regulations, which are compatible with their nature, size, the complexity of their operations and services, and the applicable regulatory framework."

Los Laureles Nº 214 - Lima 27 - Peru Tel.: (511) 6309000
Article Second.- This Resolution enters into force on July 1, 2027.
Register, communicate and publish.
SERGIO JAVIER ESPINOSA CHIROQUE
SUPERINTENDENT OF BANKING, INSURANCE AND AFPs