TITLE: Peru's Banking and Insurance Superintendence Proposes New Product Marketing Mechanisms for Supervised Entities
BODY:
On July 22, 2026, the Superintendencia de Banca, Seguros y AFP (SBS) published a regulatory proposal to expand the channels through which users can access financial products and services, promoting greater competition and innovation in their commercialisation.
The proposal permits multiple operations companies, investment banks, insurance companies, and fund management companies (empresas administradoras de fondo—EAF) to commercialise financial products and services of third parties, whether or not supervised by the SBS. The initiative also enables EAF to use third parties to commercialise their own products and services, broadening their distribution channels and facilitating access for more people. Supervised entities may establish trust commissions, commercial alliances, contractual arrangements, or similar mechanisms while maintaining responsibility for adequate risk management arising from these agreements. The proposal requires supervised entities to implement mechanisms to manage associated risks, prevent conflicts of interest, comply with market conduct rules, and adequately supervise services managed by third parties to protect users and ensure operational continuity.
The regulatory project also proposes modifying the insurance product commercialisation regulation to expressly incorporate investment banks and EAF. Additionally, the proposal permits EAF to commercialise voluntary contributions without pension purposes through third parties, expanding access to savings mechanisms and bringing more people into the pension system.
The SBS aims to promote modern commercialisation schemes, expand user options, and facilitate access to a wider variety of financial products and services while maintaining adequate risk management standards. The proposal is published on the SBS institutional portal and remains available until August 10, 2026, for industry and public comments and suggestions.