SPLAFT: registration of companies and individuals that carry out financial or currency exchange operations.

On February 26 was published the Regulation of the Registry of Companies and Persons that carry out Financial or Currency Exchange Operations, supervised by the FIU-Peru in matters of prevention of money laundering and financing of terrorism.

Here are some relevant points:

Who must register?

Exchange Houses, loan and/or pawnshops, under FIU supervision for the prevention of money laundering and financing of terrorism.

• Exchange house: natural person with business or legal entity engaged in the purchase and sale of foreign currency or foreign currency of legal tender, in person or electronically through a technological platform. It does not include cryptoassets or cryptocurrencies.
• Loan and/or pawn company: natural person with business or legal entity engaged in granting loans of money with own funds, in favor of a natural or legal person (client), being able to receive as collateral a movable and/or immovable property, granted by the client or a third party, including collateral on jewelry or other objects of gold or silver, as well as gold bullion. The activity is performed in person or electronically through a technological platform.

What are the characteristics of the registry?

It is unique, mandatory, public and is administered by the SBS.

When should the registration be made?

It must be prior to the beginning of its activities and to the communication of the designation of the Compliance Officer before FIU-Peru.

What are the requirements for registration?

The application for registration must be submitted to the SBS. Registration is free of charge.

When is the registration cancelled?

1. If the condition of regulated entities is lost.
2. When they have the status of definitive or ex officio cancellation in SUNAT.
3. In case false information has been submitted to the SBS.
4. If a name, corporate name or technological platform other than the one registered in the Register is used.
5. If they advertise their activities using the SBS logo or indicate that they have the authorization, license, endorsement or similar from the SBS.
6. If it performs activities that require authorization or registration from the SBS and this has not been granted.

If you would like further guidance on this standard or other obligations related to Prevention Systems, please contact us here: compliance@cpb-abogados.com.pe