Superintendent Resolution No. 103-2026-SMV/02

PERÚ Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equality of Opportunities for Women and Men" "Year of Hope and Strengthening of Democracy" 1 Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml Superintendent Resolution No. 103-2026-SMV/02 Lima, October 13, 2026 The Superintendent of the Securities Market SEEN:
The File No. 2025023227 and Report No. 1636-2026-SMV/10.2 dated October 12, 2026, issued by the General Superintendence of Supervision of Entities, with the favorable ruling of the Deputy Superintendent of Prudential Supervision; CONSIDERING:
That, pursuant to Articles 1 and 2 of Superintendent Resolution No. 076-2025-SMV/02 (hereinafter, RESOLUTION 076), Superintendent Resolution No. 097-2025-SMV/02, Superintendent Resolution No. 118-2025-SMV/02, Superintendent Resolution No. 142-2025-SMV/02, Superintendent Resolution No. 001-2026-SMV/02, Superintendent Resolution No. 007-2026-SMV/02, Superintendent Resolution No. 041-2026-SMV/02, and Superintendent Resolution No. 078-2026-SMV/02; the operating authorization granted to Diviso Bolsa Sociedad Agente de Bolsa S.A. (hereinafter, DIVISO SAB) was suspended; That, the aforementioned suspension period would remain in effect until DIVISO SAB demonstrates that it had shareholders with economic solvency in accordance with the Common Standards for entities requiring authorization for organization and operation of the SMV, approved by SMV Resolution No. 039-2016-SMV/01 and its amendments (hereinafter, COMMON STANDARDS) and Article 3, numeral 14, literal ii), of the Unified Text of the Organic Law of the Securities Market Superintendence, Legislative Decree No. 26126 and its amendments (hereinafter, ORGANIC LAW); That, through File No. 2025037304, DIVISO SAB submitted on August 21, 2025, a request for authorization of a share transfer (hereinafter, REQUEST FOR AUTHORIZATION), pursuant to which the shareholder Catalina Rabinovich Woloshin (hereinafter, MS. RABINOVICH), and the shareholder Julio César Kanashiro Tome (hereinafter, MR. KANASHIRO), would increase their shareholding in the capital of DIVISO SAB, which was subsequently modified by informing of additional transfers that would increase the intended participation to forty-nine percent (49%) and forty-three percent (43%), respectively; That, through the document submitted on February 19, 2026, DIVISO SAB filed an administrative appeal regarding negative silence concerning its REQUEST FOR AUTHORIZATION; That, pursuant to Articles 1 and 2 of Deputy Superintendent Resolution SMV No. 021-2026-SMV/10 dated April 6, 2026, the appeal filed by DIVISO SAB was declared unfounded and the REQUEST FOR AUTHORIZATION was denied, because such brokerage society did not demonstrate that MR. KANASHIRO and MS. RABINOVICH had the necessary economic solvency to be shareholders of DIVISO SAB. Such resolution exhausted the administrative route; That, according to the information provided by DIVISO SAB to the Public Registry of the Securities Market – RPMV, the shareholders it declares having as of the date of this resolution are the following, despite not having the respective authorization regarding MR. KANASHIRO and MS. RABINOVICH:
SHAREHOLDER PARTICIPATION
RABINOVICH WOLOSHIN CATALINA 49%
KANASHIRO TOME, JULIO CÉSAR 43%
ROMERO BURGOS, DANIEL ABRAHAM 8%
That, as established in Article 3, numeral 14, literal ii), of the ORGANIC LAW, the Superintendent of the Securities Market is authorized to automatically suspend the operating authorization granted to legal entities under its supervision and control, without the need to initiate an administrative sanctioning procedure; That, in accordance with Article 11-A of the COMMON STANDARDS, all shareholders of entities, such as brokerage societies, must always, to the satisfaction of the Securities Market Superintendence - SMV, have economic solvency; That, according to Article 27, literal a) of the Regulation of Intermediation Agents, approved by SMV Resolution No. 034-2015-SMV-01 and its amendments (hereinafter, RAI), shareholders of brokerage societies must always, to the satisfaction of the SMV, have economic solvency. This requirement is due to the need to have support for the capital of the aforementioned entities in case they face adverse economic situations and it is required that shareholders make capital contributions to absorb losses or comply with relevant prudential limits; That, if a correction period had been granted, and if upon its expiration the non-compliance with the conditions and/or requirements that shareholders of a brokerage society must permanently meet remains, the Superintendent of the Securities Market may extend the suspension of the operating authorization of the aforementioned entity, and if the non-compliance persists, may revoke such authorization; That, consequently, the suspension measure can only be lifted when DIVISO SAB demonstrates that its shareholders have the necessary economic solvency, to the satisfaction of the SMV, and meet the minimum conditions and requirements to be shareholders of a brokerage society, and, if applicable, obtain authorization for the corresponding share transfers; and, Being in accordance with Article 3, numeral 14, literal ii), of the ORGANIC LAW, as well as Article 12, numeral 6, of the Regulation of Organization and Functions of the SMV, approved by Supreme Decree No. 216-2011-EF and its amendments; RESOLVES:
Article 1.- Extend the suspension period of the operating authorization of Diviso Bolsa Sociedad Agente de Bolsa S.A., ordered by Superintendent Resolution No. 078-2026-SMV/02. This, in accordance with Article 11-A of the Common Standards for entities requiring authorization for organization and operation of the SMV, and pursuant to Articles 27, literal a); and 30-A of the Regulation of Intermediation Agents.
Article 2.- The extension of the suspension of the operating authorization will be for sixty (60) additional business days, following the period established in Superintendent Resolution No. 078-2026-SMV/02, unless Diviso Bolsa Sociedad Agente de Bolsa S.A. demonstrates that its shareholders have economic solvency.
Article 3.- Diviso Bolsa Sociedad Agente de Bolsa S.A. must comply with informing the Securities Market Superintendence, the day following the execution of the measure ordered in Article 1 of this resolution and under responsibility, the information that the Securities Market Superintendence requests.
Article 4.- The provisions of Articles 5 to 7 of Superintendent Resolution No. 076-2025-SMV/02 remain in force.
Article 5.- Publish this resolution on the Institutional Website of the Securities Market Superintendence on the Unique Digital Platform of the Peruvian State (www.gob.pe/smv).
Article 6.- This resolution enters into force on the day of its notification to Diviso Bolsa Sociedad Agente de Bolsa S.A.
Article 7.- Transmit this resolution to Diviso Bolsa Sociedad Agente de Bolsa S.A., to CAVALI S.A. I.C.L.V., to the Lima Stock Exchange S.A., and to Mr. Julio César Kanashiro Tome.
Register, communicate, and publish.
Zósimo Juan Pichihua Serna
Superintendent of the Securities Market