On June 1, the Securities Market Superintendence (SMV, for its acronym in Spanish) issued Resolution No. 048-2020-SMV/02 modifying the regulations applicable to the Alternative Securities Market (MAV, for its acronym in Spanish) and supervision service contributions, in order to counteract the exceptional measures adopted during the State of Emergency liable to affect companies’ operations, particularly non corporate ones. The resolution has already entered into force.

The resolution states that companies active in the MAV are not required to pay the SMV for contributions earned during March, April, May, June, July and August 2020.

Concerning supervision service contributions, the resolution says that monthly payments by Collective Funds Management Companies are to be temporarily kept at zero tax units corresponding to March, April, May, June, July and August 2020.