Lima, 8 July 2015

S.B.S. Resolution No. 4007-2015

The Superintendent of Banking, Insurance and
Private Pension Fund Administrators

WHEREAS:

That, in accordance with article 318 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 amendments, hereinafter General Law, insurance and/or reinsurance companies are empowered to carry out all operations, acts and contracts to extend risk coverage;

That, by SBS Resolution No. 514-2009 the Regulation for the negotiation and accounting of financial derivative products in insurance companies was approved, with the purpose of regulating operations with such instruments and guaranteeing adequate management of the risks they generate in the companies;

That, in order to generate efficiencies in supervisory work, it is necessary to adjust the aforementioned Regulation in order to eliminate the obligation to submit in physical form the documentation related to operations with financial derivative instruments for hedging purposes;

With the approval of the Deputy Superintendencies of Insurance, Risks, Economic Studies and Legal Advisory; and,

In use of the powers conferred by numerals 7, 9 and 13 of article 349 of the General Law; and, in accordance with the exception conditions set forth in numeral 3.2 of article 14 of Supreme Decree No. 001-2009-JUS;

RESOLVES:

Article One.- To amend the last paragraph of article 15 of the Regulation for the negotiation and accounting of financial derivative products in insurance companies, approved by SBS Resolution No. 514-2009, in accordance with the following text:

"(...) A copy of the referred documentation must be submitted to the Superintendency within a maximum period of five (5) business days from the registration of the financial derivative product for hedging purposes, in

SUPERINTENDENCY OF BANKING, INSURANCE AND AFP Republic of Peru

electronic version, attaching the corresponding spreadsheets. The Superintendency shall inform the company of the channel through which said documentation must be submitted."

Article Two.- This resolution enters into force as of the day following its publication in the Official Gazette "El Peruano".

Register, communicate and publish

DANIEL SCHYDLOWSKY ROSENBERG
Superintendent of Banking, Insurance and
Private Pension Fund Administrators