Superintendent Resolution No. 142-2025-SMV/02

PERU Ministry of Economy and Finance

SMV
Securities Market
Superintendence
“Decade of Equal Opportunities for Women and Men” “Year of recovery and consolidation of the Peruvian economy” 1 Electronic document digitally signed under the framework of Law No. 27269, Law on 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. 142-2025-SMV/02 Lima, November 14, 2025 The Superintendent of the Securities Market SEEN:
File No. 2025023227 and Report No. 1644-2025-
SMV/10.2 dated November 14, 2025, issued by the General Superintendence of Entity Supervision, with the favorable ruling of the Deputy Superintendent of Prudential Supervision; CONSIDERING:
That, through Letter No. 3671-2025-SMV/10.2 (hereinafter, LETTER 3671), the General Superintendence of Entity Supervision declared that the gentlemen Yésica Ysabel Del Carpio, Nicole Alexandra Espinoza Rengifo, Evely Herrera Peña, Esperanza Teresa Livelli Bacigalupo, Julio Ángel Peraltilla Fernández Baca, Diego Jesús Rodríguez Torres, Miguel Ángel Rodríguez Vargas and Enma Dabida Rojas Pomahuali (collectively, EVALUATED SHAREHOLDERS), who represent 71% of the shares of the social capital of Diviso Bolsa Sociedad Agente de Bolsa S.A. (hereinafter, DIVISO SAB), do not have economic solvency. The aforementioned LETTER 3671 is final as it has not been challenged by DIVISO SAB; That, according to Superintendent Resolution No. 076-2025- SMV/02 1 dated July 4, 2025 (hereinafter, RESOLUTION 076), it was stated that because LETTER 3671 declared that the EVALUATED SHAREHOLDERS did not have economic solvency, it was appropriate to suspend the operating authorization of DIVISO SAB for a period of thirty (30) business days; That, on July 4, 2025, through a material event, DIVISO SAB reported the transfer of the entire participation of Mrs. Enma Dabida Rojas Pomahuali (8%) in said company to Mr. Daniel Abraham Romero Burgos; That, through Superintendent Resolution No. 097-2025-SMV/02 dated August 21, 2025 (hereinafter, RESOLUTION 097), the suspension of the operating authorization established by RESOLUTION 076 was extended for an additional thirty (30) business days; That, DIVISO SAB has submitted an authorization request through which Mr. Julio César Kanashiro Tome (hereinafter, MR. KANASHIRO) would acquire 28% of the shares of the brokerage company 2 and Mrs. Catalina Rabinovich Woloshin (hereinafter, MRS. RABINOVICH), 34% of

1 Corrected by Superintendent Resolution No. 079-2025-SMV/02 dated July 9, 2025.
2 MR. KANASHIRO would acquire the shares of Esperanza Teresa Livelli Bacigalupo (10%), Janina Rosalinda Castro Núñez (9%) and Miguel Ángel Rodríguez Vargas (9%), which, added to the 10% he already owns, would total 38% of the shares of DIVISO SAB.

PERU Ministry of Economy and Finance

SMV
Securities Market
Superintendence
“Decade of Equal Opportunities for Women and Men” “Year of recovery and consolidation of the Peruvian economy” 2 Electronic document digitally signed under the framework of Law No. 27269, Law on 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 said shares (hereinafter, AUTHORIZATION REQUEST) to 7 of the 8 shareholders mentioned in the first consideration of this resolution; That, through Superintendent Resolution No. 118-2025-SMV/02 dated October 2, 2025 (hereinafter, RESOLUTION 118), the suspension of the operating authorization of DIVISO SAB, established by RESOLUTION 076 and RESOLUTION 097, was extended for an additional thirty (30) business days, unless said company credibly demonstrates the economic solvency of its shareholders; That, on November 10, 2025, DIVISO SAB submitted documentation in order to remedy observations regarding the AUTHORIZATION REQUEST; That, to date, DIVISO SAB maintains as its shareholder Mrs. Yésica Ysabel Del Carpio, who holds 10% of the social capital of the brokerage company and does not have economic solvency, according to what is established in LETTER 3671; That, it has been verified that, to date, Diviso SAB has not fulfilled the requirement to substantiate the remediation of observations regarding its shareholders, which gave rise to the suspension of its operating authorization established by RESOLUTION 076, RESOLUTION 097 and RESOLUTION 118; That, according to what is established in article 3, numeral 14, literal ii), of the Unified Text of the Organic Law of the Superintendence of the Securities Market, Legislative Decree No. 26126 and its amendments (hereinafter, ORGANIC LAW), the Superintendent of the Securities Market is empowered to automatically suspend the operating authorization granted to legal entities under its supervision and control, without it being necessary to initiate an administrative sanctioning procedure. This, among other circumstances, when any of its shareholders incurs in an impediment or fails to comply with the requirements established by the regulations. Likewise, in the event that the non-compliance that originates the suspension persists, the Superintendent of the Securities Market may revoke the operating authorization without it being necessary to initiate an administrative sanctioning procedure; That, in accordance with article 11-A of the Common Norms for entities that require authorization for organization and operation of the SMV, approved by SMV Resolution No. 039-2016-SMV/01 and its amendments, all shareholders of entities, such as brokerage companies, must have, at all times, to the satisfaction of the SMV, economic solvency; That, according to what is established in article 27, literal a) of the Regulation of Intermediation Agents, shareholders of brokerage companies must have, at all times, to the satisfaction of
the SMV, economic solvency. This requirement arises from the need to have an implicit backing of the capital of said 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, 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 comply with the minimum conditions and requirements to be shareholders of a brokerage company and, if applicable, obtain the authorization for the corresponding share transfers; and, Being in accordance with what is established in article 3, numeral 14, literal ii), of the ORGANIC LAW, as well as article 12, numeral 6, of the Regulation on Organization and Functions of the SMV, approved by Supreme Decree No. 216-2011-EF; RESOLVES:
Article 1.- Extend the period of suspension of operating authorization of Diviso Bolsa Sociedad Agente de Bolsa S.A. established by Superintendent Resolution No. 076-2025-SMV/02, Superintendent Resolution No. 097-2025-SMV/02 and Superintendent Resolution No. 118-2025-SMV/02. This, in accordance with article 11-A of the Common Norms for entities that require authorization for organization and operation of the SMV, and by virtue of what is established in 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 thirty (30) additional business days, following the period established in Superintendent Resolution No. 118-2025-SMV/02, unless Diviso Bolsa Sociedad Agente de Bolsa S.A. proves that its shareholders have economic solvency.
Article 3.- Diviso Bolsa Sociedad Agente de Bolsa S.A. must fulfill the obligation to inform the Securities Market Superintendence, on 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 from it.
Article 4.- What is established in articles 5 to 7 of Superintendent Resolution No. 076-2025-SMV/02 remains 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 will enter into force on the day of its notification to Diviso Bolsa Sociedad Agente de Bolsa S.A.
Article 7.- Transcribe this resolution to Diviso Bolsa Sociedad Agente de Bolsa S.A., to CAVALI S.A. ICLV, 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