PERU Law and Practice Contributed by: Luis Ernesto Marín and Andrés Kuan-Veng, Rubio Leguía Normand
Crowdfunding In Peru, crowdfunding is regulated by the SMV through Resolution SMV No 021-2017-SMV/01. This regulation establishes the requirements for crowdfunding platforms to operate legally in Peru and sets out the obligations of both the platforms and the issuers seeking funding through them. Under the regulation, crowdfunding platforms must register with the SMV and meet certain requirements related to their corporate govern - ance, risk management, and operational pro - cedures. They must also provide investors with clear and accurate information about the invest - ment opportunities available on the platform, including the risks associated with investing in them. Issuers seeking funding through crowdfunding platforms must also comply with certain require - ments, including the disclosure of relevant infor - mation about their business and the investment opportunity, as well as the use of funds raised through the platform. Overall, the crowdfunding regulation in Peru seeks to promote the development of alternative sources of financing for small and medium-sized enterprises, while protecting investors from fraud and other risks associated with investing in these types of opportunities. Digital Banking Digital banking activities are subject to the same provisions as traditional banking. As a result of an amendment introduced to the Banking Law in 2022, companies in the financial system (which includes banks) are allowed to carry out digitally any of the operations for which they are author - ised.
Payments The BCRP has instituted a range of rules and guidelines to ensure the proper operation and security of payment systems in Peru, including the Payment System and Securities Settlement Law ( Ley de los Sistemas de Pagos y de Liqui- dación de Valores ) and its accompanying regu - lations. The Payment System and Securities Settlement Law applies to Payment and Securities Settle - ment Systems, System Administrators, Partici - pants, Settlement Agents, guarantees within the system’s framework, as well as entities providing technological support. Additionally, it applies to Payment Agreements and Settlement Agree - ments and Securities Settlement Agreements that have not been recognised as Payment or Securities Settlement Systems. This law empowers the BCRP to establish rules, regulations, principles, and standards applica - ble to payment agreements and payment ser - vice providers, as well as oversee their com - pliance. The law defines payment agreements as arrangements or procedures for transferring funds among participants, involving at least three entities, with a minimum of one being a part of the financial system. Payment agreements include the Electronic Money Payment Agreement, which is a set of agreements or procedures for processing elec - tronic money transfer orders and carrying out electronic money clearing, as well as settling obligations between electronic money issuers resulting from the clearing process. Additional - ly, the BCRP has established the card payment agreement, which is a collection of agreements or procedures for executing card payment ser - vices under the rules and regulations set by pay -
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