Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) has published a draft amendment to the rules governing access to, and continued registration in, the Register of regional or provincial Traffic Accident Funds Associations (AFOCAT). The proposal would require AFOCAT to obtain prior SBS authorisation before registering any amendment to their bylaws with the Public Registries. The draft would introduce an authorisation process for statutory amendments that AFOCAT currently do not have, unlike other systems supervised by SBS. The aim is to ensure that changes to the legal conditions for access to the Register remain aligned with the applicable legal framework, supporting the proper functioning and strengthening of associations and improving supervisory oversight. Comments from industry and the general public are open until 4 April via the SBS website.
Superintendencia de Banca, Seguros y AFP del Peru 2025-03-20
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators consults on requiring prior approval for AFOCAT bylaw amendments
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) has proposed a draft amendment requiring Traffic Accident Funds Associations (AFOCAT) to obtain prior SBS authorisation for bylaw changes. This aims to align legal conditions with the applicable framework and enhance supervisory oversight.