On Wednesday, April 11th, the Superintendency of Securities Market (SMV) published, in public consultation, a preliminary bill that modifies the regulation of mutual funds for investment in securities and its management companies. These mutual funds are a set of investments formed by stocks and bonds administered by a company. Among other modifications, the bill will allow fund management companies to expand the investments and operations currently allowed.
Alongside this document, the SMV brought to public consultation another preliminary bill that will regulate the funds from abroad. The bill facilitates the recognition of foreign funds that have been registered or authorized by the supervisor of the securities market of other countries members of the Pacific Alliance, so that the shares of these funds can be distributed more easily.
In addition, a third preliminary bill was published. It establishes fines procedures for people and legal institutions. The initiatives are available for public consultation and reception of contributions in the website of the SMV (http://www.smv.gob.pe/). Once the consultation process is finished, the bills will be published in the coming months as resolutions of the SMV.