PERU Ministry of Economy and Finance
SMV
Superintendency of the Market of 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. 010-2024-SMV/01

Lima, 10 October 2024

SEEN:

File No. 2024035498 and Joint Reports No. 1077-2024-SMV/06/10/12 and No. 1307-2024-SMV/06/10/12 of 19 August and 4 October 2024, issued by the Office of Legal Counsel, the Deputy Superintendency of Prudential Supervision and the Deputy Superintendency of Research, Development and Innovation;

CONSIDERING:

That, in accordance with the provisions of article 1 of the Single Concorded Text of the Organic Law of the Superintendency of the Market of Securities, approved by Decree Law No. 26126 (hereinafter, Organic Law of the SMV), the SMV has the purpose of ensuring the protection of investors, the efficiency and transparency of the markets under its supervision, the correct formation of prices and the dissemination of all information necessary for such purposes, through regulation, supervision and promotion;

That, literal b) of article 5 of the Organic Law of the SMV establishes as an attribution of the Board of Directors of the SMV the approval of the regulations of the securities market, as well as those to which natural and legal persons subject to the supervision of the SMV must adhere;

That, through Legislative Decree No. 1372 (hereinafter, the Law), the obligation of legal persons and/or legal entities to report the identification of their beneficial owners is regulated;

That, article 6 of the Law provides that legal persons and/or legal entities must implement an internal procedure that includes reasonable mechanisms to obtain and preserve information about their beneficial owners, for which purpose they are obliged to reveal their identity and provide the data indicated in said Law and those established by supreme decree; legal persons and/or legal entities must verify such data presented in a supported manner, as well as keep said information updated;

That, in accordance with the provisions of literal a) of numeral 7.1 of article 7 of the Regulation of the Law, approved by Supreme Decree No. 003-2019-EF (hereinafter, the Regulation), in order to access the identification of the beneficial owner, legal persons and/or legal entities must implement the annexed format of the Regulation, in which the beneficial owners must record their identification data and, if applicable, the information referred to the cases of chain of ownership. Said format may be physical, in which case it must have the signature

Electronic document digitally signed within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulation and amendments.
The integrity of the document and the authorship of the( s) sign ature( s) can be verified at https://apps.fi rmaperu.gob.pe/web/validador.xhtml

PERU Ministry of Economy and Finance
SMV
Superintendency of the Market of 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"

certified notarially or consularly of the beneficial owners, or be recorded in other means, provided that they allow the beneficial owner to be reliably identified in accordance with what SUNAT establishes, by superintendency resolution;

That, through Superintendency Resolution No. 000236-2023/SUNAT, an alternative means to the physical format that contains the information of the beneficial owner is regulated and the deadline for the submission of the declaration of the beneficial owner of legal entities established in Superintendency Resolution No. 000041-2022/SUNAT is modified;

That, through Superintendency Resolution No. 00140-2024/SUNAT, the deadline established in literal b) of the first paragraph of article 2 of Superintendency Resolution No. 000041-2022/SUNAT is modified so that legal entities submit the declaration of the beneficial owner, with the purpose of facilitating compliance with said obligation;

That, in order to facilitate legal persons and/or legal entities obtaining the information of their beneficial owner, through Superintendency Resolution No. 000236-2023/SUNAT the possibility is recognized that the format containing the information of the beneficial owner be in an electronic document digitally signed by said beneficial owner;

That, without prejudice to the provisions of the preceding recital, numeral 4.2. of article 4 of Superintendency Resolution No. 000236-2023/SUNAT states that in the case of obligated parties supervised by the Superintendency of the Market of Securities or by the Superintendency of Banking, Insurance and Administrators of Pension Funds, the electronic document in which the format containing the information of the beneficial owner is recorded may dispense with the digital signature of the beneficial owner, to the extent that said subjects use any of the mechanisms that, in accordance with the provisions of said superintendencies, they implement to interact with their users, provided that those allow the beneficial owner to be reliably identified;

That, in that framework, this norm incorporates alternative means to the digital signature of the beneficial owner in the electronic document that entities with authorization of operation granted by the SMV, which administer legal entities, can use for the purposes of verifying the identity of the beneficial owner;

That the foregoing will allow greater flexibility for the signing of the format containing the information of the ultimate beneficiary of legal entities, while maintaining the obligation to perform due diligence for their proper identification, in accordance with the Law and the Regulation;

That, on 29 August 2024, the Technical Secretariat of the Multisectoral Commission for Regulatory Quality informed 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 governing 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

Electronic document si gned digitally under the framework of Law No. 27269, Law on Di gital Signatures and Certificates, its Regulation and amendments.
The integrity of the document and the authorship of the( s) si gnature( s) can be verified at https://apps.fi rmaperu.gob.pe/web/validador.xhtml

carry out the Ex Ante Regulatory Impact Analysis by the entity for the approval of the draft regulation;

That, as provided in SMV Resolution No. 009-2024-SMV/01, published in the official newspaper El Peruano, on 4 September 2024, the draft was submitted to a public consultation process for ten (10) calendar days, through the Institutional Page of the Superintendency of the Securities Market on the Single Digital Platform of the Peruvian State (www.gob.pe/smv), so that interested persons could submit comments on the draft regulation, and various comments and suggestions were received that have allowed the regulatory proposal to be enriched; 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 Legislative Decree No. 26126 and its amendments; by numeral 2 of article 9 of the Regulation of Organization and Functions of the Superintendency of the Securities Market, approved by Supreme Decree No. 216-2011-EF, as well as what was agreed by the Board of Directors in its session of 09 October 2024;

IT IS RESOLVED:

Article 1.- Approve the Provisions that regulate the mechanisms for the signing of the Format containing the information of the ultimate beneficiary of Legal Entities, the text of which is as follows:

Provisions that regulate the mechanisms for the signing of the Format containing the information of the ultimate beneficiary of Legal Entities

Article 1.- Scope

This regulation applies to entities with operating authorization granted by the SMV, which administer legal entities included in the scope of Legislative Decree No. 1372, Legislative Decree that regulates the obligation of legal persons and/or legal entities to report the identification of ultimate beneficiaries, and its amendments.

Article 2.- Terms and Definitions

For the purposes of this regulation, the terms and definitions indicated have the following scope:

a) Ultimate Beneficiary: natural person included in the scope of article 3, paragraph 3.1, literal a) of Legislative Decree No. 1372, Legislative Decree that regulates the obligation of legal persons and/or legal entities to report the identification of Ultimate Beneficiaries, and its amendments.

b) Legal entities: are those included in the scope of article 3, paragraph 3.1, literal d) of Legislative Decree No. 1372, Legislative Decree that regulates the obligation of legal persons and/or legal entities to report the identification of Ultimate Beneficiaries, and its amendments, and that are administered by entities with operating authorization granted by the SMV.

c) Format: the one referred to in literal a) of paragraph 7.1 of article 7 and paragraph 8.4 of article 8 of the Regulation of Legislative Decree No. 1372.

d) Law: Legislative Decree No. 1372, Legislative Decree that regulates the obligation of legal persons and/or legal entities to report the identification of ultimate beneficiaries, and its amendments.

e) Regulation: Regulation of the Law.

Article 3.- Alternative means to the digital signature of the Format.

The Format may be signed through electronic signature by the Ultimate Beneficiary. In this case, the electronic signature referred to in numeral 31.3 of article 31 of the Common Rules for entities that require organization and operation authorization from the SMV, approved by SMV Resolution No. 039-2016-SMV/01 and its amendments or replacements, is considered a valid electronic signature.

If the Ultimate Beneficiary signs the Format by handwritten signature, and it is converted into an electronic document and digitally signed by the legal representative of the entity, the certification referred to in the second paragraph of subsection a) of numeral 7.1 of article 7 of the Regulation is not required. The signature of the legal representative is intended to attest that the entity has verified that the person who signs the Format by handwritten signature is the person whose information is declared therein.

In any case, the entity must keep the documentation and information in accordance with the provisions of numeral 7.1 of article 7 of the Regulation, as well as comply with the other mechanisms for the identification of the Ultimate Beneficiary, other than the one provided in the second paragraph of subsection a) of numeral 7.1 of article 7 of the Regulation, as established by the Law and the Regulation.

Article 2°.- Publish this resolution in the Official Gazette El Peruano and on the Institutional Website of the Superintendency of the Securities Market – SMV on the Single Digital Platform of the Peruvian State (www.gob.pe/smv).

Article 3°.- This resolution shall enter into force on the day following its publication in the official gazette El Peruano.

Zósimo Juan Pichihua Serna
Superintendent of the Securities Market

Electronic document si gned digitally under the framework of Law No. 27269, Law of Di gital Signatures and Certificates, its Regulations and amendments.
The integrity of the document and the authorship of the( s) si gnature( s) can be verified at https://apps.fi rmaperu.gob.pe/web/validador.xhtml

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

Date: 10/10/2024 15:34:01

Signed by: SALAS MEZA Bruno Alberto FAU 20131310637

Signed by: GARCIA LOPEZ Daniel Alonso FAU 20131310637

Signed by: GUTIERREZ OCHOA Omar Darío FAU 20131310637

Signed by: SOTOMAYOR REDOLET Silvia Grimanesa FAU 20131310637