PERÚ Ministry of Economy and Finance
SMV
Superintendency of the Market in Securities

“Decade of Equal Opportunities for Women and Men” "Year of the Bicentennial, of the consolidation of our Independence, and of the commemoration of the heroic battles of Junín and Ayacucho"

SMV Resolution No. 008-2024-SMV/01

Lima, 4 July 2024

WHEREAS:

File No. 2024027045 and Joint Report No. 836-2024-SMV/06/10/11 of 21 June 2024, issued by the Office of Legal Counsel, the Deputy Superintendency of Prudential Supervision and the Deputy Superintendency of Market Conduct Supervision;

CONSIDERING:

That, in accordance with Investment Project with code No. 2293177 “Improvement of the Services of Promotion, Supervision and Regulation of the Securities Market of the Superintendency of the Securities Market in the District of Miraflores, Province and Region of Metropolitan Lima”, which is included in the investment portfolio of the Multiannual Investment Program of the Economy and Finance Sector, the construction of the new headquarters of the Superintendency of the Securities Market – SMV will be carried out, at Avenida Santa Cruz No. 315, Miraflores;

That, in order to carry out the aforementioned in the preceding recital, in the coming weeks the total demolition of the building in which the SMV currently operates, located at Avenida Santa Cruz No. 315, Miraflores, will begin and therefore, temporarily, the Superintendency of the Securities Market must rent premises in which to provide its services until the construction of its new headquarters is completed;

That, for these reasons, the SMV will implement an electronic platform, as it did during the national state of emergency and the health state of emergency produced by the Covid-19 pandemic, which will allow the use of the floor by the administered persons in a non-face-to-face manner, and therefore it is necessary to establish the procedure for the exercise of said right, as well as to receive the testimonies of the persons that the SMV may require, in the exercise of its powers;

That, said electronic platform will also allow the bodies or organic units of the SMV to summon the administered persons to a non-face-to-face hearing for the purposes of taking statements within or outside investigation processes, within the framework of their powers. This hearing will be recorded, in accordance with the provisions of the last paragraph of subsection 6 of article 3 of the Single Ordered Text of the Organic Law of the SMV, approved by Decree Law No. 26126 and such recording will form part of the corresponding minutes;

That, the procedural rules that are approved with this Resolution will be in force from 08 July to 30 September of this year, considering that by that date it is expected to have premises

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duly implemented in which the SMV temporarily carries out its functions in person and can receive the oral reports of the administered persons;

That, this resolution also approves the minimum technical specifications of the equipment and communications that the administered person must have in order to exercise the use of the floor or make their statement in a non-face-to-face manner on the electronic platform. Likewise, the Office of Information Technologies will be responsible for providing support and technical assistance in case of technical inconveniences with the use of the platform by the administered person;

That, on 3 July 2024, the Technical Secretariat of the Multisectoral Commission for Regulatory Quality has communicated to this Superintendency that the Multisectoral Commission for Regulatory Quality, under the provisions of numeral 18 of subsection 28.1 of article 28 of the Regulation that develops the Institutional Framework that governs the Regulatory Quality Improvement Process and establishes the General Guidelines for the application of the Ex Ante Regulatory Impact Analysis, approved by Supreme Decree No. 063-2021-PCM, has declared that it is not appropriate for the entity to carry out the Ex Ante Regulatory Impact Analysis for the approval of the Project;

That, prior publication in public consultation of this norm is not required, by virtue of the provisions of subsections a) and c) of article 3 of the Policy on dissemination of draft norms, general legal norms, regulatory agenda and other administrative acts of the SMV, approved by SMV Resolution No. 014-2014-SMV/01 and its amendments, which state that the publication of the draft norm may be dispensed with when public consultation could compromise the effectiveness of the measure and is unnecessary, respectively. In this context, this resolution seeks to safeguard the full exercise of the right of defense of the administered persons, enabling them to use the floor in a non-face-to-face manner in administrative sanctioning procedures followed before the SMV, among others; and,

In accordance with the provisions of literal a) of article 1 and literal b) of article 5 of the Single Concorded Text of the Organic Law of the Superintendency of the Securities Market – SMV, approved by Decree Law No. 26126 and its amendments, as well as what was agreed in the Board Session of 25 June 2024;

IT IS RESOLVED:

Article 1.- To approve the Provisions for the exercise of the use of the floor that will be carried out through the electronic platform by the administered persons, in the processing of administrative sanctioning procedures and others:

Provisions for the exercise of the right to speak to be carried out through the electronic platform by the administered parties, in the processing of administrative sanctioning procedures and others

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Article 1.- Rules for the exercise of the right to speak in a non-face-to-face manner in administrative sanctioning procedures

The administered parties who, in the course of the administrative sanctioning procedures initiated, request the right to speak, may exercise said right subject additionally to the provisions contained in the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01, to the following rules:

a) In the case of administrative procedures in first instance or in single instance:

i) During the instruction phase or the sanctioning phase, the administered party, upon requesting the right to speak from the General Intendant of Compliance or the Deputy Superintendent, as applicable, must identify the persons who will attend the hearing on their behalf, if applicable, indicating their full name and their identity document number.

ii) Upon receipt of the request for the right to speak, the Intendant or the Deputy Superintendent, as applicable, shall convene a non-face-to-face hearing, notifying the administered party of the day and time at which said hearing will take place, as well as the access credentials to the SMV electronic platform through which the hearing will be conducted and the minimum technical specifications.

iii) It is the responsibility of the administered party to inform their representatives about the holding of the hearing, if applicable.

iv) A tolerance of ten (10) minutes will be granted for the start of the non-face-to-face hearing, after which, if the persons previously accredited for the use of the right to speak have not connected, the hearing will be deemed concluded, leaving record thereof in the respective minutes.

v) The participation in the non-face-to-face hearing of the administered party, their legal representative or the persons they accredit, will imply submission to these provisions.

vi) In order to start the non-face-to-face hearing, the administered party and/or their representatives accredited for the use of the right to speak must activate the video and audio of the electronic platform.

vii) In the minutes of the hearing, record shall be left of the day, time and names of the persons participating therein. Before the conclusion of the non-face-to-face hearing, the minutes are read by one of the SMV representatives participating therein. The minutes are signed by all the persons who, on behalf of the SMV, have participated in the hearing and shall form part of the administrative file, being at the disposal of the administered party.

b) In the case of reconsideration appeals against sanctions imposed in first instance or in single instance, the administered party, upon requesting the Deputy Superintendent for the right to speak, must identify the persons who will attend the hearing on their behalf, if applicable, indicating their full name and their identity document number.

It is the responsibility of the administered party to inform their representatives about the holding of the hearing, if applicable.

Upon receipt of the request, the Deputy Superintendent shall proceed in accordance with the provisions of numeral ii) of the preceding letter. The non-face-to-face hearing shall be conducted in accordance with the provisions of numerals iv), v), vi) and vii) of the preceding letter, as applicable.

c) In the case of appeal resources processed in second administrative instance:

i) The administered party, upon requesting the right to speak before the Superintendent of the Securities Market, must identify the persons who will attend the hearing on their behalf, if applicable, indicating their full name and their identity document number.

ii) The Office of the Board Secretariat and Institutional Relations of the SMV shall notify the administered party of the day and time at which the non-face-to-face hearing will take place, as well as the access credentials to the SMV electronic platform through which the hearing will be conducted and the minimum technical specifications.

It is the responsibility of the administered party to inform their representatives about the holding of the hearing, if applicable.

The non-face-to-face hearing shall be conducted in accordance with the provisions of numerals iv), v), vi) and vii) of letter a) of this article, as applicable.

The administered party and the persons accredited by them for the use of the right to speak are responsible for verifying that their equipment and communication systems comply with the minimum technical specifications to be able to access the electronic platform through which the hearing for the use of the right to speak will be conducted. The SMV shall disseminate, on the Institutional Page of the Superintendent of the Securities Market on the Single Digital Platform of the Peruvian State (www.gob.pe/smv), said minimum technical requirements prior to the entry into force of this norm.

Article 2.- Notifications for natural and legal persons who are not obligated to have MVNET

Administrados who are not obligated to use the MVNet system must indicate in their request to speak, in addition to what is set forth in the preceding article, an email address to which the response to their request will be communicated in accordance with the provisions of the previous article, as applicable.

Article 3.- Other cases of remote hearing

The SMV, through its respective bodies or organizational units, may convene a remote hearing for the purposes of taking statements within or outside investigation processes, within the framework of its powers, for which the

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rules set forth in article 1, as applicable. This hearing will be recorded and such recording is part of the minutes.

Article 2.- Order the publication of this resolution in the Official Gazette El Peruano and the Institutional Page of the Superintendency of the Securities Market on the Single Digital Platform of the Peruvian State (www.gob.pe/smv).

Article 3.- Approve the technical specifications for the application of the Provisions approved by this resolution, which are contained in the attached Annex, which is part of this resolution.

Article 4.- This resolution will enter into force on 08 July 2024 and will be in force until 30 September 2024.

Register, communicate and publish.

Zósimo Juan Pichihua Serna
Superintendent of the Securities Market

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