Actualidad Peru

Legal framework for the regulation of investment banks

SBS resolution nº 3544-2015, Regulation of Investment Banks

Under SBS Resolution 3544/2015, the Supervisor of Banking, Insurance and Private Pension Fund Administrators ("SBS") approved the Regulation of Investment Banks (hereinafter, the Regulation).

It seeks to focus the supervision of investment banks more on their specific line of business. Thus, it ensures oversight of issues such as their corporate purpose, requirements on how they must be constituted and their operating licences, permitted transactions, and the prudential measures that they must report to the supervisor, as well as other matters pertaining to investment banking in the country.

Adapting the existing regulation related to the requirements highlighted in this area, the Resolution amends the Chart of Accounts for Financial Institutions, the Internal and External Audit Guidelines and the SBS Disciplinary Regulation, so that investment banks are now subject to specific standards over and above those governing banking in general.